Biden Distracts From Breaking Campaign Promises With Desperate Positive PR Stunt
June 3, 2022
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8:42Now PlayingBiden Distracts From Breaking Campaign Promises With Desperate Positive PR Stunt
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as posted by the channelThe Biden Administration has just canceled the student debt of hundreds of thousands of students who attended the nowdefunct Corinthian Colleges chain from 1995 to 2015. Education Secretary Miguel Cardona emphasized that this is the biggest single loan discharge in the department’s history due to Corinthian’s exploitation of their students by encouraging them to take on more debt without any hope of help paying it off. Cenk Uygur and Ana Kasparian discuss on The Young Turks. Watch LIVE weekdays 68 pm ET.
Read more HERE:
"Hundreds of thousands of students who attended the for-profit Corinthian Colleges chain will automatically get their federal student loans canceled, the Biden administration announced Wednesday, a move that aims to bring closure to one of the most notorious cases of fraud in American higher education.
Under the new action, anyone who attended the now-defunct chain from its founding in 1995 to its collapse in 2015 will get their federal student debt wiped clean. It will erase $5.8 billion in debt for more than 560,000 borrowers, the largest single loan discharge in Education Department history, according to the agency.
"As of today, every student deceived, defrauded and driven into debt by Corinthian Colleges can rest assured that the Biden-Harris Administration has their back and will discharge their federal student loans," Education Secretary Miguel Cardona said. "For far too long, Corinthian engaged in the wholesale financial exploitation of students, misleading them into taking on more and more debt to pay for promises they would never keep.”"
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