Student Loan Strike: What to Know About the Corinthian 100

Government will make it easier to get rid of federal loans.

Government to Make It Easier for Students to Pay Back Debt - Good news for students caught in the middle of fraudulent accusations against Corinthian Colleges, Inc., which was shut down earlier this year. The government has announced that it is streamlining a process to make sure those who attended a now closed school up to a year ago will be have their loans forgiven, the Associated Press reports. BET.com takes a look at the Corinthian 100 debt strike. — Natelege Whaley (@Natelege_)  (Photo: Image Source/Corbis)

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Government to Make It Easier for Students to Pay Back Debt - Good news for students caught in the middle of fraudulent accusations against Corinthian Colleges, Inc., which was shut down earlier this year. The government has announced that it is streamlining a process to make sure those who attended a now closed school up to a year ago will be have their loans forgiven, the Associated Press reports. BET.com takes a look at the Corinthian 100 debt strike. — Natelege Whaley (@Natelege_)  (Photo: Image Source/Corbis)

Remaining Corinthian Colleges Close - As of Sunday, April 26, Corinthian Colleges, Inc. will begin closing its remaining schools, amid being fined by the U.S. Department of Education. The agency is suing the company for failing to address allegations that they lied about data surrounding job placement of their graduates. A total of 28 campuses will close and 16,000 students will be displaced, AP reports. Former students known as the Corinthian 100, are refusing to pay back their student loans because of the scandal. (Photo: AP Photo/Jose Luis Magana, File)

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Remaining Corinthian Colleges Close - As of Sunday, April 26, Corinthian Colleges, Inc. will begin closing its remaining schools, amid being fined by the U.S. Department of Education. The agency is suing the company for failing to address allegations that they lied about data surrounding job placement of their graduates. A total of 28 campuses will close and 16,000 students will be displaced, AP reports. Former students known as the Corinthian 100, are refusing to pay back their student loans because of the scandal. (Photo: AP Photo/Jose Luis Magana, File)

Meet the Corinthian 100 - America sells the dream that with more education comes upward mobility. Many take out loans, hoping to pay them back after landing a better paying job. The Corinthian 100 — former students of for-profit colleges once owned by Corinthian Colleges, Inc. — were promised job placement after graduating but ended up with a ball and chain and no new employment prospects. They are protesting by refusing to make their payments and have expressed their grievances to the federal government this past week.  (Photo: AP Photo/Manuel Balce Ceneta)

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Meet the Corinthian 100 - America sells the dream that with more education comes upward mobility. Many take out loans, hoping to pay them back after landing a better paying job. The Corinthian 100 — former students of for-profit colleges once owned by Corinthian Colleges, Inc. — were promised job placement after graduating but ended up with a ball and chain and no new employment prospects. They are protesting by refusing to make their payments and have expressed their grievances to the federal government this past week.  (Photo: AP Photo/Manuel Balce Ceneta)

The Fall of a Controversial Company - In October, California Attorney General Kamala Harris filed a lawsuit against Corinthian Colleges, Inc. accusing the company of fraud and lying about job placement statistics. Corinthian College was placed on cash monitoring last year by the U.S. Department of Education, after the company failed to provide answers to their practices and clarify marketing claims made to students. Annually, they were receiving more than $1.4 billion in student aid from the government.(Photo: Justin Sullivan/Getty Images)

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The Fall of a Controversial Company - In October, California Attorney General Kamala Harris filed a lawsuit against Corinthian Colleges, Inc. accusing the company of fraud and lying about job placement statistics. Corinthian College was placed on cash monitoring last year by the U.S. Department of Education, after the company failed to provide answers to their practices and clarify marketing claims made to students. Annually, they were receiving more than $1.4 billion in student aid from the government.(Photo: Justin Sullivan/Getty Images)

Corinthian's Troubles - In July 2014, the company began closing and made an agreement with the Department of Education to sell more than 100 schools all over the U.S., including Everest, Heald and WyoTech. Many were sold to Zenith Education Group, and became non-profit colleges, giving students the ability to finish their education without disruption. Others were closed. In February, the company's stock was suspended from the NASDAQ. (Photo: Everest College)

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Corinthian's Troubles - In July 2014, the company began closing and made an agreement with the Department of Education to sell more than 100 schools all over the U.S., including Everest, Heald and WyoTech. Many were sold to Zenith Education Group, and became non-profit colleges, giving students the ability to finish their education without disruption. Others were closed. In February, the company's stock was suspended from the NASDAQ. (Photo: Everest College)

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Department of Education Cracking Down on For-Profit Fraud - In an effort to "increase transparency and accountability," the Department of Education released a list of schools on Tuesday across the U.S. whose finances are being monitored. They previously made a call for a mandate requiring job-training schools to prove students will find employment after they matriculate through the programs. (Photo: Department of Education)

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Department of Education Cracking Down on For-Profit Fraud - In an effort to "increase transparency and accountability," the Department of Education released a list of schools on Tuesday across the U.S. whose finances are being monitored. They previously made a call for a mandate requiring job-training schools to prove students will find employment after they matriculate through the programs. (Photo: Department of Education)

Debt Continues to Pile Up for Students - With allegations of fraud piling up against Corinthian Colleges, former and current students began organizing against the company. Many say their debt has prevented them from taking out car loans and others are facing homelessness, according to the AP. Taking a stand comes with a cost, as refusing to pay back loans lowers their credit score and interest on their outstanding balances increases their debt. (Photo: Justin Sullivan/Getty Images)

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Debt Continues to Pile Up for Students - With allegations of fraud piling up against Corinthian Colleges, former and current students began organizing against the company. Many say their debt has prevented them from taking out car loans and others are facing homelessness, according to the AP. Taking a stand comes with a cost, as refusing to pay back loans lowers their credit score and interest on their outstanding balances increases their debt. (Photo: Justin Sullivan/Getty Images)

African-Americans Are Disproportionately Affected by Student Loan Debt - As of 2014, 28 percent of African-Americans enrolled at four-year colleges go to for-profit schools, according to a Center for Responsible Lending report. And Black students attending for-profit schools are more likely to accumulate debt than Blacks who attend not-for-profit institutions. Additionally, only one-fifth of all African-American students attending for-profit schools actually graduate. (Photo: Sean De Burca/Corbis)

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African-Americans Are Disproportionately Affected by Student Loan Debt - As of 2014, 28 percent of African-Americans enrolled at four-year colleges go to for-profit schools, according to a Center for Responsible Lending report. And Black students attending for-profit schools are more likely to accumulate debt than Blacks who attend not-for-profit institutions. Additionally, only one-fifth of all African-American students attending for-profit schools actually graduate. (Photo: Sean De Burca/Corbis)

Consumer Financial Protection Bureau Won $480M in Debt Relief - In February, the CFPB won a $480 million lawsuit in debt relief for students who took out private student loans while attending one of Corinthian Colleges. “These consumers were lured into high-cost loans destined to default, and then targeted with aggressive debt collection tactics,” a CFPB Director Richard Cordray said in a statement. Students were to see a 40 percent decrease in their debt through the forgiveness program. (Photo: Spencer Weiner-Pool/Getty Images)

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Consumer Financial Protection Bureau Won $480M in Debt Relief - In February, the CFPB won a $480 million lawsuit in debt relief for students who took out private student loans while attending one of Corinthian Colleges. “These consumers were lured into high-cost loans destined to default, and then targeted with aggressive debt collection tactics,” a CFPB Director Richard Cordray said in a statement. Students were to see a 40 percent decrease in their debt through the forgiveness program. (Photo: Spencer Weiner-Pool/Getty Images)

Can Their Debts Be Erased for Good? - On Tuesday, representatives of the Corinthian 100, organized by the Debt Collective, met with Consumer Financial Protection Bureau and Education Department officials. Students say the department could have done more to protect students financial well-being. They also want their debts erased for good. "I would like to see them have to answer for why they allowed these schools to continue to take federal loans out when they were under investigation for the fraudulent activity they were doing," Sarah Dieffenbacher told the AP. She owes $100,000 in student loans.(Photo: Andrew Burton/Getty Images)

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Can Their Debts Be Erased for Good? - On Tuesday, representatives of the Corinthian 100, organized by the Debt Collective, met with Consumer Financial Protection Bureau and Education Department officials. Students say the department could have done more to protect students financial well-being. They also want their debts erased for good. "I would like to see them have to answer for why they allowed these schools to continue to take federal loans out when they were under investigation for the fraudulent activity they were doing," Sarah Dieffenbacher told the AP. She owes $100,000 in student loans.(Photo: Andrew Burton/Getty Images)