Mornin’ Politocadoes!
The Biden administration is set to forgive all remaining Federal student loan debt to those who attended Corinthian College. The college is the central figure in one of the most notorious cases of fraud in higher education. Corinthian College was one of the largest for-profit chain of “schools” that ran from 1995 to 2015, taking in hundreds of thousands of students across the country. Working with then-California Attorney General Kamala Harris, the Obama administration had discovered blatant fraud from Corinthian, falsifying data on graduate success rates, or lying to students about being able transfer course credits to and from the schools.
The cancellation of these debts is a long time coming, the Obama administration had intended to forgive these loans in the wake of their crackdown on for-profit colleges. But the sheer volume of applicants for debt forgiveness and the inevitable political battles slowed the process and created a huge backlog. It follows the Biden administration’s process for forgiveness of loan debt, focusing principally on borrowers who had been scammed by blatant fraudsters and con-artists as opposed to the millions of borrowers who were scammed by societal expectations.
The news comes as the Biden administration continues its intention to forgive $10,000 of Federal student loan debt to every borrower. Just enough relief to give some people breathing space, I suppose. Not like it’s gonna encourage me take on any more *different* kinds of debt. Still gonna be paying it down. In any event, Biden has indicated that he wants this action to come from Congress, but as we all know, Congress is where the Biden agenda goes to die and gets a cheap funeral. The action will more than likely come via an Executive Order.
If it goes through, it behooves all of us to continue to bully this nerd, knock his books over, shove him into a locker, and rip his band uniform so he has to pay for it, until he forgives *all* Federal student loan debt.
Welcome to Thursday! Please be excellent to each other in the comments. The Mayor McSquirrel Rule remains in effect. As the Covid-19 pandemic continues, if you have not been vaccinated please consider finding time to get an appointment. If you have had only one dose of the Moderna or Pfizer vaccine, do not forget about the second dose! THIRD DOSES are now available for anyone over the age of 18! You can get any type of shot you like, provided you have already been double vaccinated. Even if you are vaccinated, please continue to maintain social distancing measures, wear masks in public areas in accordance with CDC guidelines in regard to your own vaccination status. EVEN VACCINATED INDIVIDUALS CAN STILL GET AND SPREAD IT.