Obama administration has forgiven $171 million owed by former Corinthian students

[Eugene]

Source: Los Angeles Times

The U.S. Department of Education has agreed to forgive $171 million of debt owed by former students of the bankrupt for-profit school Corinthian Colleges Inc., most of them in California.

The government said Wednesday that it has granted relief to 11,173 students who attended one of the defunct Santa Ana company’s colleges, which included Heald, Everest and WyoTech.

Of the students who have filed claims, nearly 9,700 reside in California -- far more than in any other state – according to a report released Wednesday by the official overseeing the claims. The average amount of relief per student was $15,280.

The number of students receiving debt relief -- and the bill for taxpayers -- probably will rise as government investigators continue to look at thousands of other students’ claims.

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Read more: http://www.latimes.com/business/la-fi-corinthian-loan-forgiveness-20160629-snap-story.html

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By Melody Petersen
JUNE 29, 2016, 5:42 PM

[PSPS]

1. So will they claw back what the "school" stole from the taxpayers?

[Scruffy1]

2. yep. Business as usual. We get screwed and no one goes to jail. n/t.

[Ilsa]

3. I'm glad. There needs to be more of this, even a jubilee.

[welivetotreadonkings]

4. Still much to do for student loan reform, but a good start...

My guess is that these kids would be screwed if we had a President McCain or Romney right now.

[winstars]

5. All that money for the 2 Corinthian's??? LOL

[yourpaljoey]

6. The college where you learn to make rich Corinthian Leather!

Never drive your 1975 Chrysler Cordoba without it!