Mounting student debt is not a new topic in the United States, but the government footing the bill is — and for former students of the now obsolete Corinthian Colleges Inc., a total of $171 million in student debt will be written off by the government. Corinthian, once one of the largest for-profit college chains, liquidated in bankruptcy in May 2015 one week after suddenly closing its doors. The schools shut down after claims that they were inflating statistics about graduates’ career success. Although Corinthian denied the allegations, its fate was sealed. Many students were left questioning their degrees or were without a degree at all since the schools shut down suddenly.

July 5, 2016 ・ From Education News