Under the new action, anyone who attended the now-defunct chain once based in Santa Ana from its founding in 1995 to its collapse in 2015 will get their federal student debt wiped clean.
| The Associated Press
Tens of 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. Now, the relief will be made automatic and extended to additional borrowers. FILE – In this July 8, 2014 file photo, an Everest Institute sign is seen in an office building in Silver Spring, Md. Hundreds of thousands of students who attended the for-profit Corinthian Colleges chain, including Everest Institute, will automatically get their federal student loans canceled, the Biden administration announced Wednesday, June 1, 2022, a move that aims to bring closure to one of the most notorious cases of fraud in American higher education.
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.
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