The Education Department said Thursday it will cancel $150 million in federal student loan debt, despite Secretary Betsy DeVos’ efforts to overhaul the Obama-era policy.
The decision will affect hundreds of borrowers in the Rochester area, including students at the now closed Everest Institute.
When Everest abruptly shut its doors in April 2015, 462 full- and part-time students who had been attending the school on Portland Avenue in Irondequoit were left in limbo — having invested in their future and often going deep in debt.
Students who did not transfer their credits and continue their course of study in a “comparable program” at another school could apply for a closed-school discharge of their federal loans.
