You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Biden Administration Cancels $5.8 Billion in Corinthian Colleges Student Loan Debt

HeadlineJun 02, 2022

The Department of Education said Wednesday it will cancel $5.8 billion in student loan debt for borrowers who attended the now-defunct network of for-profit schools known as Corinthian Colleges. It’s the largest one-time discharge of debt ever made by the Department of Education. A report by the legal organization the Project on Predatory Student Lending found that the for-profit school industry “systematically targets prospective Black and Latinx students, encourages them to take out federal student loans, and leaves students with a worthless degree and debt that they are unable to repay.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation