Federal Appeals Court Rejects Delay, Erasing $11 Billion in Student Loan Debt for Over 170,000 Borrowers

A federal appeals court has rejected the U.S. Education Department's attempt to delay relief for student loan borrowers covered by the Sweet v. McMahon class-action settlement. This ruling will result in the erasure of approximately $11 billion in federal student loan debt for more than 170,000 borrowers who alleged their schools engaged in misconduct, such as misrepresenting employment prospects. The relief is specifically for post-class applicants whose applications were not decided by required deadlines.