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
Billionaires & Bureaucracy
Take Action Now Why Progressives are Backing Tom Steyer with Jeff CohenBy Nolan Higdon and Jeff Cohen, Gaslight Gazette In this episode of The…
The Pro-Israel Lobby’s Quiet Cash Shuffle
Take Action Now As support for Israel becomes politically toxic, the Better Blue Fund is emerging as a quiet new conduit for AIPAC-linked money in…
Rape, Assault, and Abuse Are Signature Israeli Government Values Toward Palestinians and Internationals
Take Action Now Criminal Abuse Orchestrated and Ordered at the Highest Level of the Israeli GovernmentBy Colonel (Ret) Ann Wright, World BEYOND…
She Faced a Life-Threatening Miscarriage. Under Arkansas’ Abortion Ban, Even Calls to the Governor’s Office Didn’t Help.
Take Action Now Treated as a Liability: Emily Waldorf was denied care for a risky miscarriage due to Arkansas’ abortion ban, even after she met the…