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
The Corporate War On Free Speech, A Zero Hour Conversation With Jeff Cohen
October 8, 2025
Take Action Now Jeff Cohen discusses the way right-wing moguls from Larry Ellison to Mark Zuckerberg are reshaping both traditional and social media,…
Are You Being Lied To? Is Portland “War-Ravaged”?
October 8, 2025
Take Action Now At one point, Trump himself questioned what was going on, asking, “Am I watching things on television that are different from what’s…
Wake Up, America: Democracy Is Disappearing Before Our Eyes
October 7, 2025
Take Action Now America’s democracy is under threat from a velvet-glove authoritarianism. Citizens must act now—beyond the ballot box—to defend…
Palestine Solidarity Protests Continue To Grow Across Europe
October 7, 2025
Take Action Now Record crowds again filled streets across Europe, demanding an end to Israel’s genocide in Gaza and freedom for the Global Sumud…