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
How America Hides The Human Toll Of Its Forever Wars, With Norman Solomon
Take Action Now A recent study from the Costs of War Project at Brown University found that the post-9/11 wars have been responsible for some 4.5…
Supreme Court Justices Have Financial Interest In Major Tax Case
Take Action Now John Roberts and Samuel Alito own shares of companies that could score billions in tax relief from the outcome of Moore v. United…
Depleted Uranium In Ukraine Will Only Ensure Long-Term Suffering
Take Action Now As a radioactive material, depleted uranium enters a human body through inhalation or as fragments puncturing the body. by Danaka…
Elected Democrats Are Conformist Enablers Of Biden For 2024
Take Action Now Prominent elected Democrats are either keeping quiet about the grim odds of a 2024 political train wreck or are spouting feel-good…