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For Now, Education Dept. Won’t Act Against Former Corinthian Students in Default

By  Andy Thomason
July 10, 2015

The U.S. Education Department has agreed not to take legal action against former students of the defunct Corinthian Colleges who have defaulted on their student loans, Reuters reports. The department also won’t attempt to collect the debt owed by former Corinthian students for 120 days. Last month the department

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The U.S. Education Department has agreed not to take legal action against former students of the defunct Corinthian Colleges who have defaulted on their student loans, Reuters reports. The department also won’t attempt to collect the debt owed by former Corinthian students for 120 days. Last month the department announced a plan through which it would allow former Corinthian students to apply to have their debt forgiven. The department has not yet commented on the Reuters report.

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  • Source: Reuters

Corinthian abruptly closed its remaining 28 schools in April and left 16,000 students without classes, becoming the largest failure in for-profit higher education. The company operated more than 120 campuses at its peak. The company filed for bankruptcy in May and soon after the U.S.

Read more at: www.reuters.com

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Andy Thomason
Andy Thomason is an assistant managing editor at The Chronicle and the author of the book Discredited: The UNC Scandal and College Athletics’ Amateur Ideal.
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