U.S. cancels student loan debts for 12,900 college fraud victims

The U.S. Education Department on Wednesday canceled the student-loan debts of 12,900 people defrauded by defunct Corinthian Colleges, but its announcement that it will give varying amounts of debt relief in the future set off fierce criticism. For-profit higher education provider Corinthian collapsed in 2015 amid government investigations into how many of its graduates found gainful employment. An internal review released this month showed the Education Department had stopped discharging loans of former attendees of Corinthian and other failed for-profit schools once President Donald Trump took office.

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