PHOENIX β Authorities say some 2,000 Arizonans who were students of a for-profit college chain will receive $2.7 million in student-loan forgiveness.
The agreement announced Monday is part of a nationwide settlement between the U.S. Attorney's Office and Education Management Corp.
Pittsburgh-based EDMC is the nation's second-largest for-profit college provider and has been under federal scrutiny for almost two years.
The Attorney General's Office says EDMC agreed to forgive more than $102 million nationwide in outstanding student-loan debt for more than 80,000 students who attended EDMC schools around the country.
EDMC operates Argosy University, the Art Institutes, Brown Mackie College and South University.
The schools serve about 100,000 students in 110 locations in the United States and Canada.
Phoenix is home to four EDMC schools and two others are located in Tucson.
