Corinthian College students in Mass. to get loan help

[unhappycamper]

http://www.bostonglobe.com/business/2016/03/25/corinthian-college-students-get-loan-help/xR2jXUu90sSapfpkXzuOjP/story.html

Corinthian College students in Mass. to get loan help
By Deirdre Fernandes Globe Staff March 25, 2016

Help is on the way for more than 2,000 Massachusetts residents who piled up student loans to attend Corinthian Colleges Inc., a for-profit school that went into bankruptcy last year after running afoul of state and federal regulators.

The US Department of Education on Friday unveiled a program that may forgive about $20 million for students who took courses through the company’s Everest Institute campuses in Brighton and Chelsea. The debt relief is part of a nationwide plan that has already discharged more than $130 million of loans for 8,800 former Corinthian students.

Corinthian was among the largest for-profit school chains before it went bust. Regulators have alleged that the school charged high tuition, misled students about their job prospects after graduation, and encouraged them to lie to get more federal student loan aid.

The US Department of Education has alleged instances of fraud against 100 former Corinthian campuses and fined the company $30 million last year for false claims about job placement rates. Earlier this week, a San Francisco judged ruled that the school had to pay $1.1 billion in student restitution and penalties for unfair and unlawful practices in a case brought by California’s attorney general.