Author: McKinley Corbley / Source: Good News Network
Over 15,000 Americans who have been carrying the burden of student loans for schools that have been shut down will soon get notices in the mail saying that their debt will either be repaid or canceled.
The initiative is part of the Department of Education’s newly-enforced “borrower defense rule” which allows students to have their loans repaid if their college was shut down for defrauding its attendants.
According to NPR, half of the people who will be receiving notices of their debt cancellation were former attendants of Corinthian Colleges, a for-profit college chain that closed down in 2014 as a result of its…
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