Agreement reached to cancel $2.1 million in student debt from Argosy University

Attorneys general from 10 states, including Illinois, announced an agreement Monday to cancel $2.1 million in student debt following the abrupt closing of Argosy University in 2019.

The private university shut down its campuses in 11 states amid allegations of financial mismanagement, giving students mere days to acquire their official transcripts in hopes of transferring elsewhere to finish their degrees and leaving them debt from “predatory private loans,” Illinois Attorney General Kwame Raoul said in a statement Monday.

“Students of Argosy University, through no fault of their own, have been left with debt and even negative credit ratings — but not the degrees they were promised,” Raoul said. “I am pleased with this agreement that provides some relief to those students and holds Argosy accountable to the students abandoned when the school abruptly closed.”

Agreement reached to cancel $2.1 million in student debt from Argosy University (msn.com)

 

Apparently argosy was the name of "a large merchant ship, originally one from Ragusa (now Dubrovnik) or Venice" but to me it always sounded like a mildly irritating skin disorder.