• Privacy Policy
  • Disclaimer
Viral Sant
  • Home
  • Business
  • Tech

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • Photography
  • Lifestyle
    • All
    • Fashion
    • Health
    Best Gifts for Your Boyfriend

    Best Gifts for Your Boyfriend

    Here's Why You Should Consider Getting a Yoga Teacher Certification

    Here’s Why You Should Consider Getting a Yoga Teacher Certification

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
  • Fashion
  • Travel
  • Law
  • Home Improvement
  • Health
  • Gaming
  • Automobile
  • News
    • All
    • Business
    These 7 Tips Will Help You Increase Your Airbnb Revenue

    These 7 Tips Will Help You Increase Your Airbnb Revenue

    What Are The Top Countries That Produce Gem Diamonds

    What Are The Top Countries That Produce Gem Diamonds

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Real Estate
  • Social Media
  • SEO
  • Digital Marketing
  • Cryptocurrency
  • How To
  • Electronics
  • Software
  • More
    • Featured
    • Styling
    • Product
    • kitchen
    • Art
    • Celebrity
    • News
    • Science
No Result
View All Result
  • Home
  • Business
  • Tech

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • Photography
  • Lifestyle
    • All
    • Fashion
    • Health
    Best Gifts for Your Boyfriend

    Best Gifts for Your Boyfriend

    Here's Why You Should Consider Getting a Yoga Teacher Certification

    Here’s Why You Should Consider Getting a Yoga Teacher Certification

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Review
  • Fashion
  • Travel
  • Law
  • Home Improvement
  • Health
  • Gaming
  • Automobile
  • News
    • All
    • Business
    These 7 Tips Will Help You Increase Your Airbnb Revenue

    These 7 Tips Will Help You Increase Your Airbnb Revenue

    What Are The Top Countries That Produce Gem Diamonds

    What Are The Top Countries That Produce Gem Diamonds

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Real Estate
  • Social Media
  • SEO
  • Digital Marketing
  • Cryptocurrency
  • How To
  • Electronics
  • Software
  • More
    • Featured
    • Styling
    • Product
    • kitchen
    • Art
    • Celebrity
    • News
    • Science
No Result
View All Result
Viral Sant
No Result
View All Result
Home Uncategorized

Biden admin to cancel $5.8B in school loans for former Corinthian College students

by David Malan
June 3, 2022
in Uncategorized
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

[ad_1]

The Biden administration says it will cancel federal student loans for some 560,000 borrowers who attended the for-profit Corinthian Colleges chain. 

Under the new action, hundreds of thousands of students who attended the now-defunct chain will receive $5.8 billion in full loan discharges – the largest of its kind in the Department of Eduction’s history.

FILE: Education Secretary Miguel Cardona speaks during the 2022 National and State Teachers of the Year event in the East Room of the White House in Washington, April 27, 2022. 

FILE: Education Secretary Miguel Cardona speaks during the 2022 National and State Teachers of the Year event in the East Room of the White House in Washington, April 27, 2022.
(AP Photo/Susan Walsh, File)

“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,” Education Secretary Miguel Cardona said in a statement. “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.”

Thousands of former Corinthian students were already eligible for debt cancellation, but they had to file paperwork and navigate an application process that advocates say is confusing and not widely known.

Those who have a remaining balance on their debt will also get refunds on payments they have already made, Education Department officials said. Students who have paid off their school loans will not be eligible.

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.

The company shut down in 2015 amid widespread findings of fraud. The Obama administration 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.

Prospective college students take a tour of the University of Chicago campus in Chicago, on June 24, 2013.

Prospective college students take a tour of the University of Chicago campus in Chicago, on June 24, 2013.
(AP Photo/Jon Elswick)

Hundreds of students told investigators they were pressured to enroll with promises of lucrative employment, only to end up with huge sums of debt and few job prospects. Federal officials also found that the company falsely told students their course credits could be transferred to other colleges.

The case inspired a federal crackdown and the Obama administration promised to forgive loans for Corinthian students whose programs lied about job placement rates. But an explosion in applications for debt forgiveness, along with political battles over the process, created a years-long backlog in the process, leaving many former Corinthian students still awaiting relief.

The Biden administration’s announcement comes as President Biden considers broader student loan forgiveness. On the campaign trail, Biden said he supported forgiving $10,000 in student loans for all borrowers. He later indicated that such action should come through Congress, but the White House has said he is considering whether to pursue it through executive action.

The Associated Press contributed to this report. 

Read more at viralsant.com

[ad_2]

Source link

Previous Post

Biden admin says COVID vaccine may be available to children under 5 by late June

Next Post

10 Tips on Creating Instagram Advertising Campaigns for Your Business

David Malan

David Malan

Related Posts

Uncategorized

White House claims Biden has ‘done the work’ to fix inflation, despite it sitting at 40-year high

by David Malan
October 18, 2022
Uncategorized

Former Clinton staffer Huma Abedin not ruling out run for public office: ‘Never say never’

by David Malan
October 18, 2022
Uncategorized

Lee Zeldin, NY GOP gov. candidate, says two people shot outside his Long Island home with daughters present

by David Malan
October 11, 2022
Uncategorized

Dem gubernatorial nominee Katie Hobbs fumbles question on Latino community in hard-to-watch interview

by David Malan
October 10, 2022
Uncategorized

Longtime Democrat ’embarrassed’ by Oregon politics shakes up race for governor, runs as independent

by David Malan
October 10, 2022
Uncategorized

Head Start educator says she went ‘through hell’ fighting to keep job due to state, federal vax mandates

by David Malan
October 6, 2022
Next Post
10 Tips on Creating Instagram Advertising Campaigns for Your Business

10 Tips on Creating Instagram Advertising Campaigns for Your Business

What Are the Most Popular Types of Boats?

What Are the Most Popular Types of Boats?

The Top 5 Florida Boating Destinations

The Top 5 Florida Boating Destinations

How to use MAC Address Lookup - Unique address for each network

How to use MAC Address Lookup - Unique address for each network

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 23.7k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AnimeUltima : Most Popular Anime Online Website

AnimeUltima : Most Popular Anime Online Website in 2022

March 4, 2022
FreeAllMusic : Listen to your Favourite Music for Free and Know Everything About it

FreeAllMusic : Listen to your Favourite Music for Free and Know Everything About it

November 19, 2021
Mia Melano Height, Age, and Other Information

Mia Melano Wiki, Height, Age, Professional and Personal Life

December 16, 2021
GenYoutube ( Gen यूट्यूब) | Downlaod Youtube Videos, Songs,Photos for free in 2022

GenYoutube ( Gen यूट्यूब) 2022 | Downlaod Youtube Videos, Songs,Photos for free

September 27, 2022
Vitamin C for Skin Health

What are the Benefits of Using Vitamin C for Skin Health?

0
Cheap 5G Mobiles

Know Why Buying Cheap 5G Mobiles is not a Good idea

0
6 Best Grilling Hacks

6 Best Grilling Hacks That Will Make You Look Like a Chef

0
technical SEO strategies

5 Important Technical SEO Strategies in 2021

0
Proceeding with Life After an Accident

Proceeding with Life After an Accident

December 19, 2022
These 7 Tips Will Help You Increase Your Airbnb Revenue

These 7 Tips Will Help You Increase Your Airbnb Revenue

December 5, 2022
What Are The Top Countries That Produce Gem Diamonds

What Are The Top Countries That Produce Gem Diamonds

December 5, 2022
Best Gifts for Your Boyfriend

Best Gifts for Your Boyfriend

December 5, 2022

Recent News

Proceeding with Life After an Accident

Proceeding with Life After an Accident

December 19, 2022
These 7 Tips Will Help You Increase Your Airbnb Revenue

These 7 Tips Will Help You Increase Your Airbnb Revenue

December 5, 2022
What Are The Top Countries That Produce Gem Diamonds

What Are The Top Countries That Produce Gem Diamonds

December 5, 2022
Best Gifts for Your Boyfriend

Best Gifts for Your Boyfriend

December 5, 2022
Viral Sant

We at Viral Sant bring you the latest news and updates about everything happening around us. Our aim is to provide informative and correct knowledge to our readers and make our name in words top News Magazine.

Email: [email protected]

Follow Us

Browse by Category

  • Art
  • Automobile
  • Business
  • CBD
  • Celebrity
  • Cryptocurrency
  • Digital Marketing
  • Education
  • Electronics
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • How To
  • kitchen
  • Law
  • Lifestyle
  • Marketing
  • Outdoor
  • Pet
  • Product
  • Real Estate
  • SEO
  • Social Media
  • Software
  • Tech Solution
  • Uncategorized

Contact Us

    • About
    • Advertise
    • Privacy & Policy
    • Contact

    © 2023 Viral Sant. All Rights Reserved

    No Result
    View All Result
    • Home
    • Business
    • Tech
    • Entertainment
      • Photography
    • Lifestyle
    • Review
    • Fashion
    • Travel
    • Law
    • Home Improvement
    • Health
    • Gaming
    • Automobile
    • News
    • Real Estate
    • Social Media
    • SEO
    • Digital Marketing
    • Cryptocurrency
    • How To
    • Electronics
    • Software
    • More
      • Featured
      • Styling
      • Product
      • kitchen
      • Art
      • Celebrity
      • News
      • Science

    © 2023 Viral Sant. All Rights Reserved