Connor noted that the resolution holds public institutions accountable to federal standards.
"It makes clear that the federal government cannot simply disregard borrowers' rights and its own legal obligations without consequence," Connor said.
She further detailed how misleading promises from colleges impacted borrowers' daily lives, leaving many with credentials employers ignored and insurmountable debts.
"Instead, many were left with enormous debts, credentials employers did not respect, credits that would not transfer, and, in some cases, no degree at all," Connor said.
She added that the financial strain spilled over into critical life choices and mental health.
"Borrowers also described panic attacks, anxiety, depression and years of being unable to plan for the future," Connor said.
Connor noted that while average loan balances erased under the agreement exceeded $48,000, specific discharge amounts vary, with eligible borrowers also qualifying for refunds averaging over $15,000.
"Individual amounts vary significantly, however, and many borrowers received substantially more or less," Connor said.
Regarding timelines and qualification scope, Connor clarified that the program remains strictly closed to new applicants.
"It is not something one can newly qualify for today," Connor said. She added that final processing timelines will extend through mid-2027 based on specific case details.
"Under the terms of the settlement, the latest the Education Department can clear an eligible borrower's debt is June 15, 2027," Connor said.
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In response to the court ruling, government representatives maintained that the timeline established by the court was impractical for administrative processing.
