
Biden Administration Erases Student Debt For People Who Attended For-Profit Corinthian Colleges
The $5.8B move will impact around 560,000 borrowers who attended the disgraced institution, which operated for about 20 years before dissolving.
June 02, 2022 at 10:16 pm
People with ties to Corinthian Colleges, a for-profit education company that was previously investigated for fraud, will officially have their federal student debt cleared.
The Biden administrator is forgiving all outstanding loans held by students who attended Corinthian Colleges, which — at $5.8 billion — amounts to the largest single action of debt cancellation ever by the federal government.
— Kyle Griffin (@kylegriffin1) June 2, 2022