The Source: Should Feds Forgive Loans For Students At Corinthian Colleges And Other Bad Actors?
When the Department of Education started investigating Corinthian Colleges, one of the biggest for-profit college chains in the country, they were following a chain of student stories of fraud and exploitation.
Low-income students fell prey to big promises from Corinthian and other for-profit schools who were seeking access to big federal dollars through the federal student-loan program, also known as FAFSA.
When the feds turned off the tap last year, Corinthian lost access to hundreds of millions of dollars and as of early May has filed for bankruptcy protection.
But the students of Corinthian are still sidled with massive debt and no education, and they are working to get these loans forgiven.
Should the government forgive these debts? What about other bad actors, or bad degree programs? Where should we draw the line?