Hundreds of thousands of students who attended the for-profit Corinthian Colleges chain will automatically get their federal student loans canceled.
WASHINGTON — Hundreds of thousands of students who attended the for-profit Corinthian Colleges chain will automatically get their federal student loans canceled, the Biden administration announced Wednesday, a move that aims to bring closure to one of the most notorious cases of fraud in American higher education.
At its peak, Corinthian was one of the nation’s largest for-profit college companies, with more than 100 campuses across the country and more than 110,000 students at its Everest, WyoTech and Heald schools. The case inspired a federal crackdown on for-profit colleges, and the Obama administration promised to forgive loans for Corinthian students whose programs lied about job placement rates. The administration went on to expand a process known as borrower defense to repayment, which allows any defrauded student to apply for debt cancellation.
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Federal Student Debt For Former Corinthian Students Will Be ForgivenThe Biden administration says it will forgive all remaining federal student debt for former students of the for-profit Corinthian Colleges chain.
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Biden administration will cancel student debt for half a million students from Corinthian CollegesAround 560,000 student loan borrowers who attended Corinthian Colleges will soon get their balances cleared, senior Biden administration officials say.
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Biden administration cancels all remaining student loan debt for 560,000 borrowersThe Biden administration is offering a new round of student loan debt relief for more than half a million borrowers who were students of Corinthian Colleges.
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Federal student debt erased for ex-Corinthian students“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 feder…
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Former Corinthian students get federal student debt erasedHundreds of thousands of students who attended the for-profit Corinthian Colleges chain will automatically get their federal student loans canceled.
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Former Corinthian students get $5.8 billion in student debt erasedUnder the new action, anyone who attended the now-defunct chain once based in Santa Ana from its founding in 1995 to its collapse in 2015 will get their federal student debt wiped clean.
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