“We welcome today’s action by the Biden-Harris Administration to relieve more than 500,000 borrowers who were victims of Corinthian Colleges’ fraud. This long-delayed justice comes after years of advocacy—most importantly by defrauded borrowers themselves. This action fulfills the intent of the borrower defense rule and should serve as a deterrent to institutions that would engage in similar deceptions of their students to profit from student aid programs. Corinthian borrowers have waited far too long for this action, and many other borrowers who deserve relief through the borrower defense rule continue to wait.
“We are grateful to see this relief come to more than a half-million defrauded borrowers, and we redouble our commitment to advocate for a strong borrower defense rule that discourages future abuses and that works in the interest of student borrowers, rather than the institutions that defraud them.”