Torres Calls for Relief for Corinthian Students
WASHINGTON, DC – Today, Rep. Norma J. Torres (D-Pomona) sent a letter signed by 15 other Members of Congress to the Department of Education asking for a clear, efficient process for former students of Corinthian Colleges, Inc. to apply to have federal loans forgiven.
"Corinthian's deceptive practices have jeopardized the financial and academic futures of thousands of students," said Torres. "Many were tricked by these institutions into taking out loans for what they thought would be an investment in their future, but they are now left saddled with debt and little to show for it."
Under current law, students can have their federal loans discharged if their school abruptly closes or is found to be in violation of state law. However, there have been reports of delays and misinformation for students seeking relief.
"The 16,000 students whose studies were abruptly cut short as well as thousands more with essentially worthless degrees, have already suffered enough," said Torres. "The Department of Education should do everything they can to make these students whole so that they can move on with their lives ."
Corinthian Colleges, Inc. abruptly closed many of its campuses after filing for bankruptcy and has been fined by the Department of Education $29.6 million for defrauding students by falsifying job placement reports.
Click here to view the letter and complete list of cosigners.