Bridgepoint Education Must Forgive $24 Million in Loans

Thousands of students who took out private loans to attend Ashford University and the University of the Rockies, a pair of for-profit colleges run by Bridgepoint Education, will have their debt forgiven and payments refunded, the Consumer Financial Protection Bureau said Monday.

Publicly traded for-profit colleges have been butting heads with state and federal regulators over allegations of steering students into high-cost loans, misleading consumers about their programs and aggressive marketing tactics.

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