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
Mamdani’s Massive Victory Should Show Democrats Where The Party’s Future Lies
June 26, 2025
Take Action Now NYC mayoral candidate Zohran Mamdani has thrown the drowning Democratic Party a life vest. Will its leaders use it?By Sam…
India Walton’s Advice For Zohran Mamdani
June 26, 2025
Take Action Now “I think that for him, the race ’til November needs to be staying on message—we can’t start to water it down…
AIPAC Has Too Much Influence On Congress, Says Rep. Ro Khanna
June 25, 2025
Take Action Now The antiwar California House Democrat answers tough questions from Mehdi and a live DC audience about Trump’s attack on Iran.By…
Zohran Mamdani’s Win Is the Beginning Of The End Of The Old Democratic Party
June 25, 2025
Take Action Now Mamdani’s NYC primary victory shows that the old tricks of the political establishment are dying out—and something new is being……