Debt wiped for Corinthian students as bigger decisions loom

WASHINGTON (AP) — President Joe Biden hasn’t made a decision yet on how he’ll handle the student loan debt issue, but his administration is trying to bring closure to one of the most notorious cases of fraud in American higher education. The Education Department is erasing $5.8 billion in federal debt for more than 560,000 borrowers who attended Corinthian Colleges, a for-profit chain that operated from 1995 to 2015. The company was once one of the largest of its kind, with more than 100 campuses and more than 110,000 students, but it collapsed in scandal. Vice President Kamala Harris says the announcement will “put real money in the pockets of real people.”