ST. PAUL -- Former students of the Minnesota School of Business and Globe University may be eligible for financial relief under a settlement reached between the schools and Minnesota Attorney General Keith Ellison.

The tentative deal would send millions of dollars back to former students defrauded by the schools from 2009 to 2015.

The agreement requires approval from the U.S. Department of Education and would forgive $23.1-million in federal student loan debt for 920 students, provide $15.6-million in additional cash compensation for students fraudulently enrolled in the schools' criminal justice program, and for students who were issued unlawful loans by the schools.

Minnesota School of Business and Globe engaged in fraud by telling students they could get a career as a police officer or probation officer through their criminal justice programs. However, those degrees, which cost between $40,000 and $80,000, had no value toward pursuing those careers.

The campuses closed in 2017, including the Minnesota School of Business - St. Cloud location at 1201, 2nd Street North in Waite Park.


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