Student Loan Debt Cancellations Begin to ‘Filter’ Into WA State
Claiming a Northwest and Washington state post-secondary educational system engaged in "deceptive" conduct, WA State Attorney General Bob Ferguson has announced the dismissal of $158 million in student loan charges.
Corinthian College engaged in deceptive practices, claims Ferguson
According to information from the AG's office:
"The U.S. Department of Education discharged $5.8 billion nationwide in student loans for Corinthian College students across the country. Ferguson had been calling for this action from the federal government since 2016. He asserted, and the federal government finally agreed, that every borrower who attended Corinthian was subject to illegal conduct."
Ferguson said Corinthian operated a variety of campuses in WA state, prior to them being sold to Zenith in 2016., and the now-defunct educational entity had its student loans wiped out by the U.S. Department of Education, according to the Washington Post this last week.
However, despite this unique certain situation, some educational and financial experts say this is perhaps a sign of things to come from the Biden Administration. A number of officials believe they should move ahead with more expansive student loan forgiveness programs.
The number of persons affected in WA state by this action is 16,850, with the total amount of loans wiped away totaling $157.9 million.