The Collapse of a Huge For-Profit College Company Could Cost Taxpayers $200 Million
What’s Behind the Collapse of Corinthian?
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The abrupt closure of for-profit Corinthian Colleges Inc. may cost U.S. taxpayers more than $200 million in canceled student loans.
Corinthian reached an agreement on Sunday with the Education Department to shutter its 28 campuses serving about 16,000 students. Forgiving their debt, if all students request it, would cost the government about $214 million, according to Denise Horn, an Education Department spokeswoman.