More than 2,400 Coloradans who attended ITT Technical Institute will have their federal student loan debt erased after the federal government found that the company misrepresented claims about its graduates.

Nearly $46 million worth of Coloradans’ debt will be wiped away amid a broader $9.3 billion loan forgiveness ruling nationally, Colorado Attorney General Phil Weiser announced Tuesday morning.

Colorado and 24 other states, plus Washington, D.C., asked the U.S. Department of Education to forgive ITT Tech’s students’ loans last year, and the department found that the company “misrepresented the value of its education, claiming that students who enrolled would find high-paying jobs upon graduation with a constant rate of earning growth,” Weiser’s office said.

The Education Department wrote on its website that borrowers who took out federal loans to attend ITT Tech between 2005 and September 2016 — when the company filed for bankruptcy — are entitled to forgiveness. In a statement, Weiser praised the agency’s decision and said ITT’s “misrepresentation cost people time and money as well as created significant stress and anxiety.” 

“It is time for student borrowers to stop shouldering the burden from ITT’s years of lies and false promises,” U.S. Secretary of Education 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.”

The agency also said that DeVry University, another for-profit institution, has been formally notified “that it is required to pay millions of dollars for approved borrower defense applications.” 

ITT Technical Institute closed its scores of campuses nationwide and filed for bankruptcy in September 2016 as regulators scrutinized the recruiting and financing practices of various for-profit colleges. 

Weiser’s office said the ITT news is the latest in more than $90 million in refunded or canceled debt, affecting more than 11,000 Coloradans, in the past three years.

Reuters contributed to this report.