The Biden administration says it will cancel nearly $6 billion in school loans for hundreds of thousands of students who attended Corinthian College.
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"As of today, every student deceived, defrauded and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans,"."For far too long, Corinthian engaged in the wholesale financial exploitation of students, misleading them into taking on more and more debt to pay for promises they would never keep.
At its peak, Corinthian was one of the nation's largest for-profit college companies, with more than 110,000 at 100 campuses across the country. found that scores of campuses were falsifying data on the success of their graduates. In some cases, the schools reported that students had found jobs in their fields of study even though they were working at grocery stores or fast-food chains.
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