Student Debt Strikers Are Demanding Loan Relief, and May Get It
Former and current college students calling themselves the “Corinthian 100” say they are on a debt strike and refuse to pay back their student loans.
Photographer: Manuel Balce Ceneta/AP PhotoThis article is for subscribers only.
Former Corinthian Colleges Inc. students, who have borrowed billions of dollars through the federal student-loan program, may have their debts forgiven if they can show they have been defrauded, the U.S. Education Department said.
The federal agency late Tuesday fined the for-profit college chain $30 million, finding that its Heald business schools had misled students about job-placement rates. In making the announcement, the agency said it was setting up a system to accept fraud claims and requests for forgiveness -- the first time it has done so on a mass scale.