FOR IMMEDIATE RELEASE: Feb. 8, 2015

CONTACT: Alexis Goldstein, Americans for Financial Reform
alexis@ourfinancialsecurity.org / 202-973-8005

It is good that the Department of Education recognizes the depth of the problems of fraud at too many for-profit institutions of higher education, as evidenced by the formation of the Student Aid Enforcement Unit. But hundreds of thousands of borrowers from the now-bankrupt Corinthian Colleges, Inc. remain on the hook for federal student loans, and continue to accrue interest. This is despite the fact that the illegal actions identified in Department enforcement actions against certain Corinthian schools were endemic throughout the entire chain. The Department must move quickly to discharge the debt of all Corinthian students. We join with the advocates, lawmakers, and law enforcement officials who have all called on the Department use its legal authority to discharge these debts now, without an individual application.