On March 1, 2022, the Department of Commerce and Consumer Affairs’ Office of Consumer Protection (OCP) announced an agreement with the current owners of student debt taken out by Argosy University students to cancel outstanding principal and interest for students who attended in the years preceding the schools’ abrupt closure in 2019. A group of ten states joined the agreement, which will be filed in respective state courts and in a federal receivership court. In total, the agreement cancels nearly $2.1 million in “institutional debt” taken out by students at 12 campuses directly from the school. The multistate deal includes relief of $81,668 for students in Hawaii who attended Argosy’s Hawaii campus, in addition to Hawaii students who attended Argosy’s online campus. The agreement also prevents further collection and negative credit reporting against harmed students.

Read the full press release at: https://cca.hawaii.gov/blog/news-release-state-secures-private-debt-relief-for-former-argosy-university/