Biden To Cancel , $5.8 Billion in Debt , for Former Corinthian College Students.
Fox News reports that the Biden administration has said it will cancel federal student loans for borrowers who attended the for-profit Corinthian Colleges.
Fox News reports that the Biden administration has said it will cancel federal student loans for borrowers who attended the for-profit Corinthian Colleges.
The decision will reportedly help some 560,000 students who attended the now-defunct school chain.
The decision will reportedly help some 560,000 students who attended the now-defunct school chain.
It is the largest action of its kind in the history of the Department of Education.
As of today, every student deceived, defrauded and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans, Miguel Cardona, Education Secretary, via Fox News.
As of today, every student deceived, defrauded and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans, Miguel Cardona, Education Secretary, via Fox News.
For far too long, Corinthian engaged in the wholesale financial exploitation of students, misleading them into taking on more and more debt to pay for promises they would never keep, Miguel Cardona, Education Secretary, via Fox News.
According to Education Department officials, borrowers will also receive refunds for payments already made on their student loans.
At one time, Corinthian was one of the largest for-profit college companies in the United States.
According to Fox News, the company shut down amid widespread evidence of fraud in 2015.
An investigation under the Obama administration found that numerous campuses were falsifying data on the success of graduates.
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An investigation under the Obama administration found that numerous campuses were falsifying data on the success of graduates.
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Fox News reports that the current move by the Biden administration comes as the president considers taking broader actions on student loan forgiveness.
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Fox News reports that the current move by the Biden administration comes as the president considers taking broader actions on student loan forgiveness.
