TBA Law Blog

Posted by: Amelia Ferrell Knisely on Nov 16, 2015

Tennessee Attorney General Herbert H. Slatery III, along with the Tennessee Division of Consumer Affairs, announced a settlement with Education Management Corporation (EDMC) that requires the EDMC to forgive more than $2.1 million in loans for over 1,400 former Tennessee students. Pittsburgh-based EDMC is also required to significantly reform its recruiting and enrollment practices. “This agreement … not only provides some relief to a large number of former students through loan forgiveness, but it also helps ensure that the company will make substantial changes to its business practices for future students,” Slatery said.