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
83% Of Those Killed In Gaza Are Civilians, Per Israel’s Own Data
Take Action Now Classified intelligence from May reveals Israel believed it had killed some 8,900 militants in its attacks on Gaza, indicating a…
Witnessing A Disappearance, First Hand
Take Action Now More than providing frontline support to people facing deportation, court watch is a necessary primer on growing U.S. fascismBy…
ICE Has Begun Detaining Children Now, Too
Take Action NowElected officials and educators are rallying around public school students who have been abducted by ICE.By Elizabeth…
Dear Journalists: Deaths In Gaza Are Vastly Under-counted
Take Action Now An open letter to Journalists on the Vast Undercount of Deaths & Serious Injuries in GazaBy Ralph Nader, In The Public…