Students who used federal loans to attend ITT Technical Institute as far back as 2005 will automatically get that debt canceled.

The Education Department has announced it will forgive student debt for more than 100,000 borrowers who attended colleges in the now-defunct ITT Technical Institute chain but left before graduating.

The U.S. Education Department says it's erasing student debt for thousands of borrowers who attended a for-profit college chain that exaggerated its graduates’ success in finding jobs.