The Biden administration just canceled $5.8 billion in student loans.
By Morgan Smith, CNBC
The U.S. Department of Education canceled about $5.8 billion in outstanding student loans for more than 560,000 borrowers in the largest single loan forgiveness action taken by the government to date, the department announced Wednesday.
The cancellation applies to all those who attended schools operated by the now-defunct Corinthian Colleges, one of the largest for-profit education companies that filed for Chapter 11 bankruptcy in 2015.
Corinthian Colleges has faced several lawsuits since its founding in 1995 — but perhaps the most notable is from 2013, when Vice President Kamala Harris sued Corinthian while she was attorney general of California for “deceptive and false advertising and recruiting” among other allegations, according to the department.
Recent Posts
To Defeat Trump, Democrats Must Stand With Palestine Protestors
Take Action Now Michigan’s attorney general is posing as an anti-Trump champion. So why is she helping Trump’s FBI to target protesters?By Lewis…
To Resist Trump, The Left Must Change, A Zero Hour Conversation With Norman Solomon
Take Action Now Norman Solomon and RJ Eskow discuss the challenges facing the Democratic Party and the need for a united front against the Trump…
An AI Dragnet Is Sweeping Up Immigrants
Take Action Now The U.S. government is activating a suite of algorithmic surveillance tools, developed in concert with major tech companies, to…
The ADL Has Been Going To Bat For Weapons Manufacturers
Take Action Now The Anti-Defamation League now says criticizing the use of US weapons is ‘antisemitic’.By Eli Clifton, Responsible…