(COLUMBUS, Ohio) — Attorney General Dave Yost today announced a multi-state settlement that will provide $6.8 million in debt relief to about 870 former ITT Tech students in Ohio. Nationally, the 43-state settlement will result in debt relief of $168 million for more than 18,000 former students.
The settlement is with Student CU Connect CUSO, LLC (CUSO), which offered loans to finance student tuition at ITT Tech, a failed for-profit college. ITT filed for bankruptcy in 2016 amid investigations by state attorneys general and following action by the U.S. Department of Education to restrict ITT’s access to federal student aid. CUSO’s loan program originated about $189 million in student loans to ITT students between 2009 and 2011.