Biden To Cancel $5.8 Billion in Debt for Former Corinthian College Students
  • 2 years ago
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. .
An investigation under the Obama
administration found that numerous campuses
were falsifying data on the success of graduates. .
Fox News reports that the current move by the
Biden administration comes as the president considers taking broader actions on student loan forgiveness. .
Fox News reports that the current move by the
Biden administration comes as the president considers taking broader actions on student loan forgiveness.
Recommended