One of the things keeping me busy lately is helping the Debt Collective and its work organizing over 100 former and current Corinthian College students into a federal student debt strike.
The Corinthian 100 are students who are striking their federal student loans from the predatory, for-profit Corinthian Colleges, Inc. Corinthian collapsed last year under the weight of over 200 individual lawsuits, including those from state Attorneys General (including California and Massachusetts), and one from the Consumer Financial Protection Bureau (CFPB). Students describe all manner of abuses, from being lied to about job placement, being admitted to College even if they didn't have a high school diploma, to being pulled out of finals to be pressured into handing over their financial aid pin numbers.
On March 31st, 14 strikers and Debt Collective organizers met with Undersecretary Ted Mitchell, the No. 3 official at the Department of Education, at a meeting hosted by the CFPB:
- At that meeting, strikers told their stories, and requested an erasure of all Corinthian debt. Ted Mitchell promised that he'd have a response within 30 days.
- At the same meeting, we submitted 257 individual defense to repayment applications. Defense to repayment is a legal theory that says debts must be erased if the students' school broke state law--which according to at least two State AG offices, they absolutely did.