Student Loan Debt Forgiveness Made Easier by New Obama Administration Policy

In a new bout to help students with their student loans, the Obama Administration announced on Monday, June 8, it would forgive federal student loans owed by Americans who can prove they were lured to colleges by fraudulent recruiting. This new policy is one of the most aggressive measures to help students ease their debts and could potentially involve billions of dollars.

The main focus of the new initiative are the former students of Corinthian Colleges Inc., formerly a big for-profit chain, which collapsed into bankruptcy reorganization this spring. As of 2014, the company was accused of lying to prospective students about its graduates’ job success.

One of the most disturbing allegations by Federal Officials involves Corinthian-owned schools paying temp agencies to hire its graduates for as little as 48 hours in order to count them as employed. According to the Education Department, an accounting major in 2011 was counted as being employed in her field of study based on her job as a food-service worker at a Taco Bell.

Corinthian officials didn’t respond to requests for comment.

The forgiveness push, though, would reach far beyond Corinthian and even the for-profit school sector.

One of the Law Firms that specialize in helping students fight back is Student Loan Law Group. They assist borrowers in learning how to consolidate student loans, get out of garnishment, default and more. If you are a student or former student of one of Corinthian-owned schools, or simply facing overwhelming student loan debt in New Jersey, South Carolina, Utah or Ohio, call Student Loan Law Group at 888-843-1706.

Student Loan Law Group has helped many students lower their student loans to a more affordable payment. Before you graduate, learn your rights so you do not pay someone unqualified. Student Loan Law Group can even give you the tools to get out of student loan debt on your own. Call Student Loan Law Group at 888-843-1706.