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Former Corinthian students get federal
student debt erased

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Posted By: Imright, 6/1/2022 7:22:32 PM

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.Under the new action, anyone who attended the now-defunct chain from its founding in 1995 to its collapse in 2015 will get their federal student debt wiped clean. It will erase $5.8 billion in debt borrowers, loan discharge in Education Department history, “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


.....Hundreds of thousands....????

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Reply 1 - Posted by: DVC 6/1/2022 7:29:19 PM (No. 1172914)
Horrible, rotten, crooked, corrupt vote buying.
12 people like this.

Reply 2 - Posted by: Rich323 6/1/2022 7:33:53 PM (No. 1172923)
Do I get my investment money back from failed companies subsidized by the government?
14 people like this.

Reply 3 - Posted by: Jesuslover54 6/1/2022 8:08:50 PM (No. 1172947)
Is he saying the money is not owed or that the government (the populace) will pay?
6 people like this.

Reply 4 - Posted by: Venturer 6/1/2022 8:12:23 PM (No. 1172952)
Is it OK if I ask how many of those responsible at this college are in jail?
12 people like this.

Reply 5 - Posted by: The Remnants 6/1/2022 8:25:10 PM (No. 1172965)
I don't mean to be rude, but the people in charge in our government are dumb as posts and they think we are as well. Saw a mam on street today who was wearing a tee-shirt that read, "Sick of It All". My sentiments exactly.
9 people like this.

Reply 6 - Posted by: whyyeseyec 6/1/2022 9:08:34 PM (No. 1173006)
This is precisely why the govt should not be involved in paying for anyone's college tuition. The Feds took over the Student Loan Program by including it in Obamacare in 2010. We taxpayers are now on the hook for a trillion dollars by those 'students' who can't pay back their useless Nothing Studies degrees.
13 people like this.

Reply 7 - Posted by: slipstik 6/1/2022 9:10:52 PM (No. 1173007)
We the people get to pick up the 6 billion dollar redemption of these loans. The story says "Biden-Harris administration..." but that is a lie. We pick up that tab. Us, the taxpayers, not the deadbeats who signed up with an OBVIOUS sham organization who sold them a free lunch. Turns out, the lunch is free to them because WE are going to pay the bill for their stupidity. Lucky us.
9 people like this.

Reply 8 - Posted by: Birddog 6/1/2022 9:15:30 PM (No. 1173012)
"Those who have a remaining balance on their Corinthian debt will also get refunds on payments they have already made, Education Department officials said. BUT the action does not apply to loans that have already been paid off in full."
3 people like this.

Reply 9 - Posted by: mifla 6/2/2022 5:24:35 AM (No. 1173257)
You want your money back, then sue the college. Don't hand me the bill.
1 person likes this.

Reply 10 - Posted by: tootall 6/2/2022 7:23:50 AM (No. 1173350)
This is total bs. And will there be taxes due on these forgiven loans? Slick Willy was at one point involved with one of these schemes. It is still in business and called Laureate University. It is slightly more legitimate in that the majority of its activities are overseas, where pay to learn orgs are more common. I believe they do 16% of their business outside the USA. To be fair, Trump University has taken a bunch of criticism as well ... and rightfully so. Misnamed, it had no accreditation, Federal funding or loan guarantees. It was a high pressure, expensive seminar designed to teach people the secrets of being successful in real estate investing. I learned about that business other ways, but did buy a property management system which was helpful to a degree and probably saved me time.
0 people like this.

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