Art Institutes Owner to Forgive Student Loans, Pay $95 Million Settlement

November 17, 2015

By David Walker

Education Management Corporation, an operator of for-profit colleges that include about 50 Art Institute schools across the U.S. and Canada, will forgive 80,000 student loans to bring a consumer fraud investigation to a close, and pay $95.5 million to settle a lawsuit over its recruitment practices, according to the U.S. Department of Justice and various press reports. EDMC had been...

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