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Victims Of Fraud By Corinthian Colleges Will Get Debt Relief

Students wait outside Everest College, owned by Corinthian Colleges Inc., Tuesday, April, 28, 2015 in Industry, Calif., hoping to get their transcriptions and information on loan forgiveness and transferring credits to other schools. (Christine Armario/AP)
Students wait outside Everest College, owned by Corinthian Colleges Inc., Tuesday, April, 28, 2015 in Industry, Calif., hoping to get their transcriptions and information on loan forgiveness and transferring credits to other schools. (Christine Armario/AP)

It started with 15 students, dubbed the ‘Corinthian 15,’ who refused to pay back federal loans they took out to attend the for-profit Corinthian Colleges. The students argued that Corinthian misled them by providing neither quality education nor promised job counseling and career opportunities.

This week, the federal government agreed, saying all Corinthian students who believe they were victims of fraud – or those whose schools actually closed down – will get the debt relief. Corinthian students had already been granted $480 million in debt relief by the Consumer Financial Protection Bureau in February – but that was only for private loans.

The new ruling could affect 350,000 people who took out $3.5 billion in federal loans. An organization known as the Debt Collective provided the student debt strikers with pro bono advice and helped them organize.

Alexis Goldstein, a member of that collective, joins Here & Now‘s Robin Young to discuss the debt forgiveness.

Guest

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