Finance
January 1, Biden Administration Cancels $5.8B of Debt
The Biden administration announced that it’s canceling $5.8 billion in federal student loan debt for borrowers who attended the now-defunct for-profit Corinthian Colleges chain.
“As of today, every student deceived, defrauded and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans,” Education Secretary Miguel Cardona said.
“For far too long, Corinthian engaged in the wholesale financial exploitation of students, misleading them into taking on more and more debt to pay for promises they would never keep.”
According to a report, the former Corinthian students were already eligible for debt cancellation, but the process was confusing and not widely known.
-
Featured3 years ago8 Celebrities Charged in Widespread Financial Scheme
-
Featured3 years ago
Wrong Turn Ends in Tragedy: Homeowner Shoots and Kills Woman Searching for Friend’s House
-
Featured3 years agoGoldman Sachs Embraces Gender Pronouns While Facing Discrimination Lawsuit
-
Latest News3 years agoChicago Police Department Responds to Violent Teen Rioting
-
Featured3 years agoStimulus Update: Americans in One State To Receive Extra $500
-
Latest News3 years agoTragic Explosion Kills 18,000 Cows in Texas Dairy Farm
-
Featured3 years agoNationwide Bank to Shut Down Nearly 50 Branches This Summer
-
Featured3 years agoCocaine-Hippo Hit By Car in Columbia (Yeah, You Read That Right)
Unconstittional, he cannot do this!
So, a college that no longer exits, like many colleges and universities stuck it to the kids skated with the government’s money and Biden is skipping their government part. That is a gift to those who got a degree from Corinthian, provided they even applied their trade. Be sure that Biden never, ever gives away anything without a catch. This is a back door to try to let all debts go, even though the majority of Americans disagree with this wasteful spending.