Loan forgiveness announced for 5K former Corinthian students

Corinthian Colleges, Everest College, Everest Institute
FILE - This July 8, 2014 file photo shows an Everest Institute sign on an office building in Silver Spring, Md. In the two decades since trade schools started popping up on U.S. stock exchanges to maximize profits, allegations of misconduct have been rampant. On July 1, 2015, new rules go into effect for any school with a career-training program. The Education Department estimates it loaned some $3.6 billion in the past five years to Corinthian students before the government forced it to sell or close its campuses. (AP Photo/Jose Luis Magana, File)

PORTSMOUTH, Va. (WAVY) — Attorney General Mark Herring on Tuesday announced that students who were formally enrolled in schools run by Corinthian Colleges, Inc could be eligible for loan forgiveness.

According to a news release from Herring’s office, the U.S. Department of Education found that Corinthian and its subsidiaries nationwide published misleading job placement rates for many programs between 2010 and 2014.

Corinthian filed for bankruptcy last year, and shutdown 28 campuses in April of 2015 for schools.

Herring announced that more than 5,000 Virginia students who were formally enrolled in schools such as Everest, Heald College and WayoTech might be eligible for this forgiveness through the Department of Education.

The Department of Education’s findings included several programs at Everest campuses in Chesapeake and Newport News.

Students who used federal Direct Student Loans to pay for these programs can be eligible for loan forgiveness. Tuesday’s news release stated that students need to fill out a federal loan cancellation application to apply for loan forgiveness.

See a full list of eligible schools and programs at the links below:

Herring stated Tuesday, “In the next few weeks we will be reaching out by email to let potentially qualified students know about the possibility of debt forgiveness. If you think you might be eligible, keep an eye on your inbox and contact us or contact the Department of Education directly if you have any questions.”