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ITT Loan Servicer Agrees to Forgive $330 Million
Inside Higher Ed: PEAKS Trust, which owned and managed loans for now-defunct ITT Educational Services, has agreed to forgive $330 million in student debt to about 35,000 borrowers in settlements with the federal Consumer Financial Protection Bureau and 47 states and the District of Columbia.
The Deutsche Bank National Trust Company, Deutsche Bank Trust Company Delaware and Deutsche Bank Trust Company Americas, which served as trustees to PEAKS, were also named in the settlement agreement announced Tuesday.
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