Yesterday, the U.S. Department of Education announced it will discharge all remaining federal student loans borrowed to attend any campus owned or operated by Corinthian Colleges Inc. from its founding in 1995 through its closure in April 2015 including its Wyotech automotive and collision repair trade schools.
The announcement will result in 560,000 borrowers receiving $5.8 billion in full loan discharges. This includes borrowers who have not yet applied for a borrower defense discharge, who will have their Corinthian loans discharged without any additional action on their part.
The announcement builds upon conclusions first reached by the Department of
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