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Education Secretary Miguel Cardona speaks in December 2020. Photo: Joshua Roberts/Getty Images

The Biden administration has canceled $55.6 million in student loan debt for victims of a for-profit college fraud, the Department of Education announced Friday.

Why it matters: The Department of Education said it canceled the loan payments for 1,800 borrowers who attended Westwood College, Marinello Schools of Beauty and the Court Reporting Institute.

  • The Biden administration has canceled $1.5 billion in debt for nearly 92,000 borrowers who claim they were defrauded, including students from ITT Technical Institute and Corinthian Colleges. 

The big picture: A majority of the debt, $53 million, will go toward borrowers who attended Westwood College, which closed in 2015. Another $2.2 million from 200 complaints will go toward students from Marinello and $340,000 in debt was forgiven for 18 borrowers from the Court Reporting Institute.

  • The debt is being forgiven under the Borrower Defense to Repayment, a policy that allows students who were defrauded by their college to seek debt relief.

What they're saying: Education Secretary Miguel Cardona said in a statement that the department will “continue doing its part to review and approve borrower defense claims quickly and fairly so that borrowers receive the relief that they need and deserve.”

  • “We also hope these approvals serve as a warning to any institution engaging in similar conduct that this type of misrepresentation is unacceptable,” Cardona said.

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Pelosi says it's her "plan" to appoint GOP Rep. Kinzinger to Jan. 6 committee

House Speaker Nancy Pelosi (D-Calif.) said Sunday that it is her "plan" to appoint Rep. Adam Kinzinger (R-Ill.) to the House select committee investigating the deadly Jan 6. Capitol riots.

Why it matters: Pelosi's statement to ABC's "This Week" comes after she rejected two of the five Republican appointments offered by House Minority Leader Kevin McCarthy (R-Calif.).

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Bezos beats Branson in space billionaires' battle for attention

Photo illustration: Aïda Amer/Axios. Photo: Imtiyaz Shaikh (Anadolu Agency), Drew Angerer/Getty Images

Jeff Bezos' flight into space generated more interest from the public than Richard Branson's, and both billionaires overshadowed their respective space companies.

Why it matters: Data shows an outsized public interest in the personalities at the center of the space trips, compared to the companies behind them — which could reinforce public suspicion that the ventures were partly vanity plays.