For-profit loan forgiveness program could see major cut
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January 31, 2018
WASHINGTON (AP) — The Education Department's plan to provide only partial loan forgiveness to some students defrauded by for-profit colleges could reduce overall payments by about 60 percent, according to a preliminary analysis obtained by The Associated Press.
The agency announced in December that it was discontinuing the Obama administration's practice of fully wiping out the loans of students deceived by the now-defunct Corinthian Colleges under the borrower defense rule.
The department said some students will now be getting only partial loan forgiveness to make the process fair and protect...
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