On December 13, 2018, the U.S. Department of Education announced that it was automatically discharging the student loans of approximately 15,000 borrowers who attended a college or university that closed between November 1, 2013 and December 4, 2018. The approximate amount of loans that will be automatically discharged is $150 million, of which approximately $80 million is attributable to loans taken out by borrowers who attended schools operated by Corinthian Colleges, Inc. The Department’s seemingly friendly action was actually prompted by a decision from a federal court in Washington, DC that forced the Department to act. The court invalidated the
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