Senator Durbin Proposes Debt Cancellation For Borrowers Defrauded By ITT Tech And Corinthian – Forbes
Senate Democratic Whip Dick Durbin (D-IL) and other Democratic lawmakers unveiled a plan to provide full debt cancellation for defrauded student borrowers in the next coronavirus relief package. Durbin’s package would specifically target debt relief to students that attended the now defunct ITT Tech and Corinthian College.
The Coronavirus Emergency Borrower Defense (E-BD) Act from Durbin would provide relief to three categories of borrowers. The first two are those students who attended ITT Tech and Corinthian. These schools closed after findings of fraud from investigations by the Department of Education and state attorneys general.
The other category covers borrowers in group discharge applications made by State attorneys general. These applications usually follow investigations by the attorneys general in their respective states and are sent on behalf of a group of borrowers impacted in the cases that initiated the investigations.