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Financial Aid

Students ask Education Department to discharge college debt

More than 3,000 former Corinthian College students will have their college loans erased, the first wave of debt relief tied to the collapse of the for-profit higher education chain. The potential cost to taxpayers if all Corinthian students seek relief: $3.2 billion. So far, almost 12,000 students have asked the federal government to discharge their college loan debt, asserting that their school either closed or lied to them about job prospects, according to a report released Thursday by the Education Department. About 3,100 closed-school claims have so far been approved — totaling about $40 million in student loans, the department said. While unprecedented, the figures represent...

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