Wyden, Merkley among senators seeking debt relief for Corinthian Colleges students

Wyden, Merkley among senators seeking debt relief for Corinthian Colleges students


By:  Matthew Kish

Thirty-five Democratic U.S. senators, including Oregon's Ron Wyden and Jeff Merkley, have signed a letter to President Barack Obama seeking more relief for students of predatory for-profit colleges.

The list includes Corinthian Colleges, which filed bankruptcy and closed suddenly in 2015.

"These schools have put their pursuit of federal student loan dollars ahead of the best interests of their students, and their abuses undermine the vision you have laid out for higher education in America," the senators said, in the letter.

The U.S. Department of Education recently released a proposal for allowing students of such colleges to clear their student debt. The senators want the proposal to go further, including making it easier for students to access the debt relief.

The proposal does not cover private loans, such as those still held by Aequitas Capital Management, which recently stopped making payments on private notes backed by the loans.