Biden Administration Looks to Speed Student-Loan Forgiveness for Defrauded Borrowers

The Biden administration is working to expand forgiveness of student loans of students who successfully claim they were defrauded by schools, a key component of its piecemeal approach to reducing educational debt.

For-profit colleges worry that the administration could make it too easy to apply for and obtain loan forgiveness, potentially damaging the schools’ reputations and forcing some to close.

President Biden’s Education Department has canceled, or discharged, around $2 billion in federal debt held by tens of thousands of former students of for-profit colleges using a regulation known as...