The Education Department has now approved 28,000 claims for $558 million in so-called borrower defense relief from former students of Corinthian Colleges, which liquidated in bankruptcy in 2015. The department didn’t update the tab for closed-school loan discharge applications on Friday. The Education Department last fall completed a rule clarifying what abuses are covered under borrower defense rules. The agency is also beginning to wade through more than 2,500 borrower defense claims it has received so far from former ITT students. About 26,000 of the borrowers whose loan relief claims have been approved haven’t yet had their debt formally discharged.

Source: Wall Street Journal January 13, 2017 20:48 UTC