Education Department announces largest-ever cancellation of loans by erasing $5.8 billion in debt for students of Corinthian Colleges

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Jun 01, 2022 Education Department announces largest-ever cancellation of loans by erasing $5.8 billion in debt for students of Corinthian Colleges The Biden administration on Wednesday announced the largest student loan forgiveness step by the Education Department with the cancellation of $5.8 billion in federal loans for hundreds of thousands who attended schools affiliated with Corinthian Colleges. The action will erase debt for about 560,000 borrowers who enrolled in the for-profit Everest, Heald and WyoTech colleges, which Corinthian owned or operated before it folded in 2015 following an investigation by the Education Department. Read More Follow Us Get the NBC News Mobile App Check out all NBC News newsletters here. 30 Rockefeller Plaza New York, NY 10112 View in browser | Unsubscribe | Contact | Privacy