OAKLAND, CALIF. – Today at a press conference, California Attorney General Xavier Becerra announced a settlement of $67 million in debt relief for former California students of Corinthian Colleges. The for-profit college, which the federal government shut down four years ago, was a higher education predatory institution that targeted African Americans and Latinos.
Attorney General Becerra’s announcement comes as the U.S. Department of Education is rolling back important safeguards to protect students from the student loan debt crisis.
Center for Responsible Lending Government Relations and Policy Associate Ezekiel Gorrocino released the following statement:
Attorney General Xavier Becerra is setting an example of what it means to stand up for struggling students. This relief will make an enormous impact on the lives of these former student borrowers who were defrauded by Corinthian Colleges. With education loan debt and defaults at an all-time high--and the effects of the harmful practices of for-profit colleges like ITT Tech and Corinthian still not fully addressed across the country--it’s good to see states like California set a standard of what it means to put students first. It’s time for the U.S. Department of Education to follow the example of our state Attorneys General and hold abusive for-profit colleges accountable for harming students by putting back in place commonsense safeguards that give people a chance to succeed if they pursue higher education.
For more information or to arrange an interview with a CRL spokesperson, please contact Ricardo Quinto at ricardo.quinto@responsiblelending.org or calling 202-349-1866.