KEY POINTS

>The U.S. Department of Education announced Tuesday that it would cancel the student loans for 208,000 borrowers who attended ITT Technical Institute.

>The relief totals $3.9 billion.

The U.S. Department of Education announced Tuesday that it will cancel all remaining federal student debt taken on by borrowers who were defrauded by ITT Technical Institute since 2005, delivering $3.9 billion in relief to some 208,000 people.

ITT Educational Services was at one point one of the largest operators of for-profit technical schools in the U.S., and shut down in 2016. Borrowers shouldn't have to apply for the relief, the Education Department said.