1: We petitioned the federal government,
your department <laugh> to provide relief.
He wasn't here at the time, um,
to provide relief for Corinthians student loan borrowers in
response,
the department of education made some Corinthian students eligible for debt
relief, but only those who applied
until today. Thank you.
So I am proud to announce together with the leaders on this stage, that the,
the department of education will cancel all remaining federal student
loans for former Corinthians students.
So to those that this directly impacts what it means that it
means that if you attended Corinthian at any point in
its existence, you will receive this relief automatically.
You do not need to apply for it.
All former students will soon receive notice that Corinthian college
federal loans will be canceled,
and this will benefit more than half a million people who still have loans.
And it will add up to almost 6 billion in
debt relief for former students.
And of course we all know that's real money in the pockets of real people
who have faced over these years, significant debt.
Many of whom are still struggling to make ends meet as costs
have gone up after we obtained the judgment against Corinthian.
I said,
then that the least we could do was to give everyone
Corinthian, took advantage of the relief they deserve.
I said then that we would do everything in our power to help
them finally.
And sadly it has taken this long. Finally,
that promise is fulfilled.