Joe Biden has canceled $5.8 billion in student loan debt for students who used to attend Corinthian Colleges.
On Wednesday, the Department of Education announced it discharged student loan debt for 560,000 borrowers, coming to $5.8 billion in canceled student loan debt. CNN Politics reports that this is now the largest one-time discharge ever made by the department.
The new act will apply to former Corinthian Colleges students who went to the college between its founding in 1996 and its closure in April 2015, CNN Politics reports. Some of the schools included in the Corinthian Colleges are Everest, WyoTech and Herald College.
Back in 2013, when Kamala Harris was the attorney general for California, she filed a lawsuit against Corinthian Colleges, alleging the school was being deceptive and using false advertisements in recruitment. CNN reports. This ultimately led to Corinthian selling most of its campuses, and it eventually closed down completely in 2015.
