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
Israel Is Deliberately Targeting Lebanon’s Journalists
Take Action Now The list of civilians deliberately killed by Israel in Lebanon includes journalists trying to report on the invasion. The Union of…
In a Divided Country, U.S. Residents Agree on One Thing: No Data Centers
Take Action Now Across the country, in cities and rural areas, locals are pushing elected officials to introduce data center regulations and pause…
Why Israel Fears a U.S.-Iran Rapprochement Far More Than Conflict
Take Action Now The same policies that sought to guarantee Israel’s survival may now be undermining its futureBy Paul Rogers, Open Democracy The…
As ICE Casts Shadow Over World Cup, Organizers Focus on Keeping Communities Safe
Take Action Now Activists refuse to let the Trump administration stamp out the joy of soccer among immigrant communities.By Sonali Kolhatkar,…