PITTSBURGH — Former students of the now-closed Everest Institute in Pittsburgh could soon be reimbursed for their loans because of the college’s questionable business practices.
Pennsylvania Attorney General Josh Shapiro announced Thursday a proposed settlement with Aequitas Capital Management. The agreement with the former investment firm will give $6.7 million in debt relief to about 1,200 students who attended “for-profit colleges,” including Everest.
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“Aequitas and Corinthian Colleges engaged in predatory practices that preyed upon students trying to better themselves through education,” Shapiro said in a news release.
Corinthian Colleges operated Everest before selling it to Zenith Education Group in 2014.
Once a court has approved the settlement, students will be notified that their debt has been forgiven.
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