$6.1 billion in student loan debt canceled for enrollees at for-profit Art Institutes [Yahoo! Finance]
GameStop Corporation (GME)
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Source: Yahoo! Finance
left thousands of former students saddled with debts amassed in overpriced courses of study — until this week. On Wednesday, the Biden administration announced that it was canceling $6.1 billion in student loan debt for people enrolled at any Art Institute from January 2004 through October 2017 — 317,000 former students in all, nearly 42,000 of whom are in California. Education Management, known as EDMC, operated multiple Art Institute branches in California, including in Hollywood, Santa Monica and San Bernardino. “This institution falsified data, knowingly misled students, and cheated borrowers into taking on mountains of debt without leading to promising career prospects at the end of their studies,” the White House wrote in a statement. “We will never stop fighting to deliver relief to borrowers, hold bad actors accountable, and bring the promise of college to more Americans.” Abel Hernandez, 44, of San Francisco exemplifies the damage caused by EDMC's tactics. Hernandez s
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GME
Earnings
- 3/26/24 - Miss
GME
Sec Filings
- 5/17/24 - Form 8-K
- 5/17/24 - Form 424B5
- 5/17/24 - Form 8-K
- GME's page on the SEC website