Dems Propose Canceling Corinthian and ITT Student Debt in Next Stimulus

"Top Democratic lawmakers said they will propose forgiving the loans of Corinthian and ITT Tech student loan borrowers, who have claimed they were misled by their institutions, as part of the next coronavirus relief package.

Democratic Senators Sherrod Brown, Dick Durbin and Elizabeth Warren said they will introduce a bill requiring the loans be discharged within 30 days of Congress enacting the next package. Democratic Reps. Mark Takano and Pramila Jayapal said they will propose the same measure in the House. Also included in the bill are borrowers who were covered by various actions by state attorney generals to discharge loans of defrauded borrowers.

Many of the borrowers are among the thousands who have been waiting years for the Education Department to process borrower defense claims, a process in which the department cancels the loans of those who have been defrauded by their institutions." …