SAN FRANCISCO – (INT) - California Attorney General Xavier Becerra announced a settlement Thursday with Balboa Student Loan Trust (Balboa) that will provide $67 million in critical debt forgiveness.

It means relief for the 34,971 Californians who took out private student loans to attend now-defunct Corinthian Colleges (Corinthian).

“In the coming weeks, thousands of defrauded Corinthian students will receive a letter in the mail informing them that their loans have been fully forgiven,” Becerra said.

Becerra called on U.S. Secretary of Education Betsy DeVos to follow through with the federal relief owed to defrauded Corinthian students on their federal student loans.

Story Date: June 20, 2018