I'm not aware of how ITT loan discharge will proceed[1] but they shut down because they didn't want to keep the necessary amount of cash on hand so that if they did shut down they could forgive all the loans their current students were issued.

[1] <https://studentaid.ed.gov/sa/about/announcements/itt/faq>

I was implying that we'll one day have the technology to selectively erase memories with high precision and reliability.