On June 1, 2022, the U.S. Department of Educationannouncedit will automatically discharge all remaining federal student loans for those who attended any campus that Corinthian Colleges owned or operated. Around 560,000 borrowers will get $5.8 billion in 100% loan discharges—the largest student loan forgiveness move in U.S. history.
This discharge includes borrowers who haven't yet applied for a borrower defense discharge (see below).The Department will notify students who attended Corinthian schools of this decision, and discharges will happen in a few months.
Education Department Approves Borrower Defense Discharges for All Corinthian Colleges Students
Again, the Department of Education approved borrower defense to repayment (borrower defense) discharges for all students who took out federal student loans to attend an institution that Corinthian Colleges owned or operated, including Everest, Heald, and WyoTech.
If you attended any campus owned or operated by Corinthian Colleges Inc. from its founding in 1995 through its closure in April 2015, you qualify for the discharge.
How to Get Student Loan Relief Under This Announcement
The Department will contact students who attended Corinthian schools about this decision, and discharges will happen automatically in subsequent months. Borrowers don't have to take any action to get a discharge.
Student Loan Cancellation Under the Biden Administration
Since taking office, President Biden has canceled billions of dollars in federal student loan debt. In addition to the student loan relief discussed in this article, the Biden administration has:
canceled $1 billion of student loans for 72,000 student loan borrowers who attended Corinthian Colleges and ITT Technical Institute and previously had part of their federal student loans canceled under a borrower defense claim
canceled $1.3 billion of student loans for 41,000 borrowers whose federal student loans were forgiven due to total and permanent disability and then reinstated