COLORADO SPRINGS — The U.S. Department of Education proposed to settle a major lawsuit that would forgive student loan debt for those who were swindled into taking out student loans and enrolling in low-quality programs. This includes hundreds and thousands of veterans.

Universities have specifically targeted veterans by convincing them to receive their GI Bill benefits through their schools. Veterans were then deceived into enrolling in low-quality programs and taking out costly loans that accrue “mountains of debt,” according to Veterans Education Success.

“This debt relief is sorely needed, and is the minimum due to veterans who will never get back lost time wasted at bad schools,” said Will Hubbard, a Marine Corps Veteran and vice president of Veterans Education Success for veterans & military policy.

Veterans nationwide such as, Army veteran Jarrod Thoma of Colorado Springs, expressed relief at the news.

“I’ll finally be out from under this nightmare,” said Thoma, who had been weighed down by $50,000 in loans from DeVry University.

The proposed settlement, once finally approved by a federal judge, will allow Thoma and other veterans to overcome the often crushing amount of student loan debts.

“Thousands of veterans were cheated out of their GI Bill benefits and saddled with student loans by low-quality schools,” added Hubbard. “… It’s a step to helping veterans and other students get their financial lives back on track.”

Despite the relief veterans will receive from these loan discharges, there remains no legal mechanism in place to restore hard-earned GI Bill benefits after students are defrauded. Veterans Education Success urges Congress to correct this continued challenge.

The Department of Education said in its settlement that it would look favorably on new filings for loan relief as well as forgiving those who had already applied.

Veterans Education Success has helped hundreds of student veterans apply for loan relief and is available without charge to assist other veterans to navigate their student loan debt.