Education Management Corporation (edmc)

210 Sixth Avenue, Pittsburgh, PA 15222

For-profit colleges could forgive millions in student debt under deals with IL, other states

By Vimbai Chikomo | Wednesday, Dec 16, 2015 @ 11:59pm

Illinois Attorney General Lisa Madigan has announced two settlements with for-profit college operator Education Management Corporation (EDMC). The settlements would “significantly reform” recruiting and enrollment practices for the company, forgive over $3 million in loans for Illinois students, and reimburse the state of Illinois for money the education company obtained fraudulently.