The Corinthian 15’s Student Loan Debt Strike
Have you heard of the Corinthian 15? They’re a group of “debt strikers” who publicly pledged to refuse paying back loans from the now-closed Corinthian Colleges (Everest, Wyotech, and Heald).
Few people took them seriously when the campaign was first announced, but the Corinthian 15’s ranks have swollen – my current favorite nickname for them is the Corinthian 1,500!
This group is organized, dedicated, and motivated. Reformed and calling themselves
Support for the Movement is Growing
But they’re not the only ones striking against student loan debt. About 1,000 other borrowers with student loans from SallieMae / Navient have joined the fight and are also refusing to back back their loans.
The Government (but especially the banks) appear to be scared of the potential here, which lead to President Obama’s Department of Education offering up to $3.6 BILLION dollars in student loan forgiveness benefits for Corinthian students.
That’s a HUGE number, but it only applies to students with debt resulting from Corinthian-affiliated education programs. What should you do if you went elsewhere, but you too need help?
What Should You Do?
Before you agree to join with the strikers and default on your student loan, you will want to take two things into consideration:
- Defaulting leads to serious consequences
- You may qualify for forgiveness benefits under some other program
Before you sign a debt strike pledge of your own, why not first look into the 75+ other student loan forgiveness programs currently on offer to see if you can wipe out your debt without having to face the legal repercussions of defaulting on your loans?
Visit my page on Student Loan Forgiveness to see if you qualify for any of the excellent forgiveness programs now on offer.