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Round-up: Biden Comments on Student Loan Forgiveness Spark National Reaction - June 2, 2022

June 02, 2022

The Biden Administration continued its efforts to reduce the nation’s student loan debt and unwind years of poorly managed repayment plans yesterday with the forgiveness of $5.8 billion in loan debt for 560,000 former students of the defunct for-profit chain Corinthian Colleges.
The decision covers former students who were enrolled in Corinthian schools — Everest Institute, WyoTech and Heald College — from its founding in 1995 to its closure in 2015. Former students are not required to submit an application and will receive a letter from the Education Department informing them of the pending discharge.
The Washington Post reported: “Corinthian was once a giant in the for-profit sector, enrolling more than 110,000 students at 105 campuses at its peak in 2010. But the company became the poster child for the worst practices in the sector, with high loan defaults and dubious programs. Clouded by allegations of deceptive marketing and lying to the government about its graduation rates, Corinthian lost its access to federal funds in 2014, forcing the company to sell or close its schools.”
A decision on forgiving up to $10,000 per student loan borrower reportedly remains under consideration by the President.
Below is recent media coverage on the student loan issue:
Biden Cancels $5.8 Billion in Student Loans for Former Corinthian College Students
The Wall Street Journal (June 2, 2022)
$5.8 Billion in Loans Will Be Forgiven for Corinthian Colleges Students
The New York Times (June 2, 2022)
Education Dept. to Clear $5.8B in Debt of Corinthian Colleges Students
The Washington Post (June 2, 2022)
U.S. Will Forgive $5.8 Billion of Loans to Corinthian Colleges Students (June 2, 2022)
U.S. Cancels $5.8 Billion in Student Loans, the Most Ever
The Chronicle of Higher Education (June 2, 2022)
$5.8 Billion for Former Corinthian Students
Inside Higher Ed (June 2, 2022)
They Got the Debt, but Not the Degree
The New York Times (June 1, 2022)
Student Loan Forgiveness: 5 Serious Questions for President Biden (June 1, 2022)
On Student Loan Forgiveness, Joe Biden Has Three Options (June 1, 2022)
After Lull, Employers Renew Interest in Helping Workers Repay Student Debt
The Washington Post (May 28, 2022)
Biden Can Still Avoid Offering Wasteful Student Debt Forgiveness
The Washington Post (May 31, 2022)
Blanket Loan Forgiveness, Loan Subsidies, and Failed Job-Training Programs Are Not the Answer to Worker Shortages and Inflation – Commentary
The Heritage Foundation (June 2, 2022)
Beth Akers on Student Loan Forgiveness – Podcast (June 1, 2022)
The Reason President Biden Might Not Be Able to Cancel Student Debt After All - Commentary
The (June 1, 2022)
Student Loan Forgiveness Is Not Enough. We Need Major Reform. – Commentary
The Washington Post (June 1, 2022)
Biden’s About to Make a Big Mistake on Student Loans - Commentary (May 31, 2022)
We’re So Close to a Win Against the Student Debt Crisis – Commentary
The (June 1, 2022)
Student Loan Debt, Equity, and Forgiveness – Commentary
Inside Higher Ed (June 1, 2022)

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