Corinthian Colleges left its students in massive debt and without much hope for the economic advancement their degrees were supposed to offer. Rather than help students shrug off those debts, the government decided to help the company sell its schools to a new brand. Now, students are fighting back.
A deal announced Tuesday takes half a billion dollars in bad debt off the shoulders of current and former students of for-profit education company Corinthian Colleges. But the details of the transaction suggest those debts are actually worth less than 3 percent of what students were being charged.