court judgment against Corinthian Colleges

[clep3705]

College ordered to pay more than $1B for misleading students

[bjcheung77]

Sadly, I don't think anyone will be getting much money back if any. They were one of the big 4 schools I actually wanted to attend because of the advertising they do. But I figured they were way too expensive. Along with AIU and UOP, Devry, ITT they were the most advertised.

[Alpha]

5.8 billion dollars in student debt cancelled
https://www.cbsnews.com/news/student-loa...-colleges/

[bjcheung77]

5.8 billion dollars in student debt cancelled
https://www.cbsnews.com/news/student-loa...-colleges/

Wow, that's amazing. I was thinking, if it was the colleges "paying" back the students, they'll probably get nothing. However, this is great... even better for those who actually "did finish or get a college education" (even though most of their schools were Nationally Accredited", they now have a heavily discounted if not free credential. Is that how I read it if all that debt is gone?

[Alpha]

As you say, a lot of those people did not ever earn a credential, they just incurred the debt.  Those who did earn a credential may have found a way to use it productively, but some of those schools were pretty substandard and a degree from there may not have been worth much.  I think it's interesting that this is happening right at the time when Biden is allegedly considering a larger student loan debt forgiveness program.  There are a lot of strong feelings on all sides of that issue.

[SweetSecret]

One of my previously unhoused clients just had all their student got wiped out by this. There is not someone who I think is more deserving, so I am ecstatic! However the person is under the impression that their credits will not be transferable. I do not believe that's the case though. If anyone knows of which schools will take these credits please let me know.

[rachel83az]

One of my previously unhoused clients just had all their student got wiped out by this. There is not someone who I think is more deserving, so I am ecstatic! However the person is under the impression that their credits will not be transferable. I do not believe that's the case though. If anyone knows of which schools will take these credits please let me know.

Which school? It looks like some Corinthian Colleges were NA and some were RA. https://en.wikipedia.org/wiki/Corinthian...reditation

I would give Excelsior a try. Excelsior accepts both NA and RA credits; they're pretty open with credit acceptance in general. I think that WGU accepts some NA credits sometimes, maybe? If the credits are RA, just about any institution from this board should accept them in some form. It's just a matter of sending the transcripts and seeing what's what.

[bjcheung77]

One of my previously unhoused clients just had all their student got wiped out by this. There is not someone who I think is more deserving, so I am ecstatic! However the person is under the impression that their credits will not be transferable. I do not believe that's the case though. If anyone knows of which schools will take these credits please let me know.

Update us with more details, which institution? The more info the better, it may be worth it to get some credits out of it at least... furthermore, they can try the PLA method as a last resort.