Attended one of these schools? You may be eligible for student loan forgiveness
Addy Bink
July 10, 2022
(NEXSTAR) – As Americans await a decision on widespread student loan forgiveness from the Biden administration, some have already been able to have some or all of their debt erased. Among those are roughly 690,000 borrowers that have had $7.9 billion in federal student loans canceled after attending schools that defrauded them.
Federal student loan borrowers who were misled by their school, or attended a school that engaged in misconduct may qualify for borrower defense to loan repayment, otherwise known as borrower defense. According to the Department of Education, this means some or all of your federal student loans would be forgiven.
While any borrower that believes they’ve met the criteria for forgiveness, the Education Department has already approved loan discharges for those who attended certain schools.
The Education Department’s most recent borrower defense discharge canceled $5.8 billion in loans for 560,000 borrowers that had attended Corinthian Colleges. All former students who attended any campus owned or operated by Corinthian Colleges Inc. since the company was founded in 1995 through its closure in 2015 are included in forgiveness.
