The fourth and final "Borrower Defense Progress Report" was released on Wednesday by the U.S. Department of Education. It cites 26,603 claims for debt relief, of which 87 percent were from former students at the now-defunct Corinthian Colleges Inc., according to the agency. As of June 24, the report says, the department had approved more than 11,000 claims for student-debt relief, for a total of more than $170 million.
This is the last of four reports produced by a special master, Joseph A. Smith Jr.,who was appointed to oversee the discharge of student-loan debt racked up at Corinthian.
Mr. Smith’s report details the status and numbers behind the claims and the department’s attempts to reach students who may be eligible for debt relief based on findings of the colleges’ misconduct.
"All of us at the department are grateful for his diligence in support of our efforts to provide debt forgiveness to students who have been mistreated and defrauded by predatory institutions," said Ted Mitchell, under secretary of education, in a news release.
Read more at The Chronicle of Higher Education: http://chronicle.com/blogs/ticker/special-master-delivers-final-report-on-corinthian-loan-discharge/112523