ITT Tech student loans won't be collected due to lawsuit settlements with states

CHICAGO (WLS) -- Former students of the now-defunct ITT Tech in Illinois will receive student loan debt relief thanks to settlements with Attorneys General across the country.

Illinois Attorney General Kwame Raoul announced Tuesday that more than $9.4 million in student loans will not be collected from former students of the failed for-profit college.

ITT Tech students eligible for loan relief in new settlement

In 2016, ITT Tech closed all of its campuses nationwide, leaving nearly 40,000 students without degrees, certifications or transcripts. There were four campuses in Illinois and one in Northwest Indiana.

ITT Tech students search for options after campuses close

Former students don't need to do anything to have their ITT debt canceled. The company that operated the school's loan program will send those students a notice.

From Attorney General Raoul

- Students do not need to do anything to receive the debt relief. PEAKS' notices will explain students' rights under the settlement. Students may direct questions to PEAKS by emailing customerservice@peaksloans.com or calling 866-747-0273.

- Student borrowers who have questions or need assistance can also call the Attorney General's Student Loan Helpline at 1-800-455-2456. Students can also contact the Consumer Financial Protection Bureau at 855-411-2372.