$3.9 billion in loans will be cancelled for students of the now-defunct college.

Earlier this week, the United States Department of Education announced that the students of the now-defunct ITT Technical Institute would have their student loans cancelled. ITT Technical Institute was a for-profit college that operated from 2005 to 2016 when it was closed on accusations of fraud.

“It is time for student borrowers to stop shouldering the burden from ITT’s years of lies and false promises,” Education Secretary Miguel Cardona said in a statement. “The evidence shows that for years, ITT’s leaders intentionally misled students about the quality of their programs in order to profit off federal student loan programs, with no regard for the hardship this would cause.”

208,000 student loan borrowers will have their debts forgiven, totaling in $3.9 billion of cancelled loans. All students who attended the school and took out a loan, even those who have not submitted a borrower defense claim, will have their loans cancelled, while those who qualify for loan relief programs will receive funds automatically.

This cancellation is the newest in a series of debt cancellations related to controversial for-profit universities, with the most recent example being the cancellation of Corinthian debts several months ago. Following the announcement of the cancellation, the Education Department also announced that DeVry University, another for-profit institution, will need to begin paying for borrower defense applications.