White House to announce widespread relief for former Corinthian Colleges students
The Biden administration is planning to administer widespread relief for former Corinthian Colleges students on Thursday, multiple sources told The Hill exclusively, a move that progressives see as inching towards their goal of broader student loan debt forgiveness.
Vice President Harris will attend an event around the announcement during the afternoon, according to two sources directly familiar with the plans.
The impending action could touch several hundred thousand borrowers that attended the now-defunct for-profit chain and could include as much as $10 billion to $20 billion in collective debt, according to an internal estimate by an independent agency.
Corinthian Colleges shut down in 2015 after it faced multiple investigations and lawsuits for defrauding students out of millions in federally backed loans. Since then, advocates like Sen. Elizabeth Warren (D-Mass.) have called on the Education Department to provide relief to former students who faced some form of debt collection.
https://thehill.com/news/administration/3508243-white-house-set-to-announce-loan-forgiveness-for-corinthian-colleges-students/