PEAKS Trust, a private lender for ITT Tech, the for-profit university that filed for bankruptcy in 2016, will be paying about $330 million in student debt relief to over 35,000 borrowers nationwide who have outstanding balances.
The college had campuses in Wichita and Kansas City, and 290 Kansans will be receiving over $2 million as part of that settlement.
ITT Tech was investigated by state attorneys general and the U.S. Department of Education to restrict access to federal student aid.
This is the 3rd settlement obtained by the office of Kansas Attorney General Derek Schmidt that provides student-loan relief for former students of for-profit colleges in Kansas.
Students with questions may visit www.InYourCornerKansas.org or the call the Consumer Protection Division of the State Attorney General’s Office at (800) 342-2310.