BUSINESS INSIDER: Here’s the letter 15 students refusing to pay their federal loans wrote to the Department of Education

Career College Central Summary:

  • Fifteen students are refusing to pay back federal student loans taken out to attend schools owned by Corinthian Colleges Inc., a network of for-profit colleges located across the US and in Canada.
  • The New Yorker reports that Corinthian Colleges – which at one time enrolled more than 100,000 students – has faced a host of problems over the past few years, weathering lawsuits from the Consumer Financial Protection Bureau and the states of Massachusetts and California.
  • In July the Department of Education forced Corinthian to sell or close down its schools.
  • However, that action didn't forgive the loans owed by former Corinthian students. A group of these students – who refer to themselves as the Corinthian 15 – created a website on which they have published a letter they wrote to the Department of Education asking for loan forgiveness.
  • The students call for solidarity among the "tens of millions of students" who are "in more debt than they can ever repay." They're referring to the estimated $1.1 trillion of loans held by Americans, including many who attended for-profit colleges that are arguably a bad investment.
  • Here's the full letter published on the students' website:

    • 19 February, 2015

      • Who are we? We are the first generation made poor by the business of education.
      • We are people living paycheck to paycheck, single mothers, and young people just starting out. We wanted an education because we were driven to learn and to achieve a better life for ourselves and for our families.
      • We trusted that education would lead to a better life. And we trusted you to ensure that the education system in this country would do so. But Corinthian took advantage of our dreams and targeted us to make a profit. You let it happen, and now you cash in.
      • Each month you force us to make payments into an immoral system that profits from our aspirations.
      • We paid dearly for degrees that have led to unemployment or to jobs that don't pay a living wage. We can't and won't pay any longer.

Click through to read the full article.


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