Corinthian Colleges was one of the largest for-profit schools when it collapsed in April 2015 and became a symbol of fraud in the world of higher education and student loans. According to investigators, Corinthian schools charged exorbitant fees, lied about job prospects for its graduates and, in some cases, encouraged students to lie about their circumstances to get more federal aid. In 2019, Corinthian College execs. have been issued subpoenas for their involvement.
As a result, former students can now challenge the Department of Education to seek complete student loan discharge and in some cases get refunded any money paid in the past. The U.S. Department of Education recently announced new student loan relief options for many borrowers who attended Corinthian Colleges (including Everest College, Everest Institute, WyoTech and Heald Colleges). These programs are available for a limited time only and are on a case by case basis. The Attorney General’s Office lead the investigation against Corinthian Colleges, Inc (also known as CCI). The company was large and operated numerous schools including Everest, Heald and Wyotech, all for-profit colleges.
The company came under investigation for their predatory lending practices, misrepresentation of job placement rates, targeting of low-income students and leaving thousands with mountains of debt. Due to these practices, they were forced to shut down their remaining 28 schools over night and kick out over 16,000 students who were enrolled to get their degrees. This left current students and those who had graduated or previously attended one of the schools, in utter dismay. The students were also left scrambling to complete their degrees at other colleges willing to accept their credits.
However, prior to the school’s closure it was announced that CCI was to pay $30 million for misrepresented job placement data along with altered grades and attendance records. A main reason many students and graduates were attending is because of these job placement rates. One of the major factors that allowed the company to enroll so many students during their time in business was the promise of a job straight out of school. Students believed they were not only investing in a college degree but also in a guaranteed job upon completion of their schooling.
However, CCI ended up having to file for bankruptcy soon after the $30 million fine. This has lead many students wondering if they are able to get student loan debt relief.
Luckily for students, programs have been put in place to help aid borrowers in paying their debt from a school that has since closed down. However, programs are limited and are said to be closing soon due to the high number of graduates requesting enrollment. To guarantee your spot and to find out if you are eligible call us today at (877) 502-6655.