{"id":1501609,"date":"2022-06-02T16:30:33","date_gmt":"2022-06-02T20:30:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1501609"},"modified":"2022-06-02T16:31:06","modified_gmt":"2022-06-02T20:31:06","slug":"a-milestone-biden-administration-wipes-out-5-8-billion-of-student-loan-debt-from-corinthian-colleges","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-milestone-biden-administration-wipes-out-5-8-billion-of-student-loan-debt-from-corinthian-colleges\/","title":{"rendered":"\u2018A Milestone\u2019: Biden Administration Wipes Out $5.8 Billion Of Student Loan Debt From Corinthian Colleges"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fa-milestone-biden-administration-wipes-out-5-8-billion-of-student-loan-debt-from-corinthian-colleges%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1501609&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Vice President Kamala Harris formally announced Thursday the administration\u2019s decision to cancel federal student loan debt for Corinthian Colleges.<\/p>\n<p>Harris, speaking at the Department of Education in Washington, D.C., highlighted that the announcement is \u201ca milestone.\u201d She noted that she became involved in the issue \u201cnearly a decade ago\u201d when she sued <a href=\"https:\/\/dailycaller.com\/2014\/07\/10\/obama-administration-kills-corinthian-colleges\/\">Corinthian<\/a> in 2013 while serving as the attorney general in California.<\/p>\n<p>\u201cWe won because our investigation discovered that Corinthian had engaged in false and deceptive advertising,\u201d Harris said. \u201cThey promoted programs that they did not offer. They penalized their telemarketers if the telemarketers revealed the truth to prospective students.\u201d<\/p>\n<p>\u201cIn 2016, after we obtained the judgment against Corinthian, I said then that the least we could do was to give everyone Corinthian took advantage of the relief they deserve,\u201d she continued. \u201cI said then that we would do everything in our power to help them.\u00a0Finally \u2013 and sadly it has taken this long \u2013 finally, that promise is fulfilled.\u201d<\/p>\n<div id=\"attachment_7442420\" class=\"wp-caption alignnone\">\n<p id=\"caption-attachment-7442420\" class=\"wp-caption-text\">FILE PHOTO: White House economic adviser Brian Deese speaks during a press briefing at the White House in Washington, U.S., March 31, 2022. REUTERS\/Kevin Lamarque<\/p>\n<\/div>\n<p>The Department of Education found in 2015 that Corinthian, a for-profit education company, \u201cengaged in widespread and pervasive misrepresentations\u201d about potential job opportunities that students would get if they attended the school, NPR previously\u00a0<a href=\"https:\/\/www.npr.org\/sections\/ed\/2015\/11\/17\/456367152\/corinthian-misled-students-on-job-placement-investigation-finds\">reported<\/a>.<\/p>\n<p>The announcement is billed as the the single largest discharge of loan forgiveness in history, as it allows for $5.8 billion of loan forgiveness. This will impact 560,000 borrowers who went to Corinthian Colleges.<\/p>\n<p>\u201cIt means that if you attended Corinthian at any point in its existence, you will receive this relief automatically,\u201d Harris said Thursday. \u201cYou do not need to apply for it. All former students will soon receive notice that Corinthian College federal loans will be cancelled. And this will benefit more than half a million people who still have loans. And it will add up to almost $6 billion in debt relief for former students.\u201d<\/p>\n<p>\u201cThank you for all of you who helped us deliver justice,\u201d Harris added.<\/p>\n<p>The decision from the White House <a href=\"https:\/\/dailycaller.com\/2022\/05\/27\/student-debt-forgiveness-joe-biden-loans-inflation\/\">coincides<\/a> with a larger debate about <a href=\"https:\/\/dailycaller.com\/2022\/05\/31\/wagoner-biden-student-loan-forgiveness-fund-democrats-predatory-lending-schemes\/\">student<\/a> loan cancellation. President Joe Biden hasn\u2019t yet officially decided on how to move forward with student loan cancellation, though recent\u00a0<a href=\"https:\/\/www.washingtonpost.com\/us-policy\/2022\/05\/27\/biden-student-debt-borrower\/\">reports<\/a> indicated that he may cancel $10,000 for each borrower, depending on the individual\u2019s salary. <strong><a href=\"https:\/\/dailycaller.com\/2022\/04\/30\/biden-student-loan-forgiveness\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Biden Considering $10,000 Student Loan Forgiveness Per Borrower)<\/a><\/strong><\/p>\n<p>\u201cNo decisions have been made yet. But as a reminder, no one has been required to pay a single dime of student loans since the president took office,\u201d White House spokesman Vedant Patel <a href=\"https:\/\/www.reuters.com\/world\/us\/biden-administration-plans-cancel-10000-student-debt-per-borrower-report-2022-05-27\/\">told<\/a> Reuters of the reporting.<\/p>\n<p>The announcement also <a href=\"https:\/\/dailycaller.com\/2022\/06\/02\/ro-khanna-joe-biden-inflation-faster-action-baby-formula-shortage\/\">coincides<\/a> with inflation woes. White House National Economic Council director Brian Deese argued Tuesday that cancelling some student loan debts wouldn\u2019t affect inflation in a meaningful way, Reuters <a href=\"https:\/\/www.reuters.com\/markets\/us\/white-house-says-canceling-student-loans-wouldnt-drive-up-inflation-much-2022-05-31\/\">reported<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vice President Kamala Harris formally announced Thursday the administration\u2019s decision to cancel federal student loan debt for Corinthian Colleges.Harris, speaking at the Department of Education in Washington, D.C., highlighted that<\/p>\n","protected":false},"author":125,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1501609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1501609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/125"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1501609"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1501609\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1501609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1501609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1501609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}