Govt. Erases Some Loan Debt As For-Profit Colleges Decline
The federal government is forgiving the debt of students who attended now-defunct Corinthian Colleges as for-profit universities' popularity drops.By Ben Lawson | June 8, 2015
The Department of Education handed down a major victory to the students of now defunct Corinthian Colleges.
On Monday, Secretary of Education Arne Duncan said the federal government will relieve the student loan debt of tens of thousands of people who attended any of the school's now-shuttered locations.
"This morning, my office filed suit agains Corinthian Colleges in what can only be described as a for-profit college predatory scheme," said California Attorney General Kamala D. Harris in 2013.