The Biden administration recently announced that it will clear $5.8 billion in federal student loans for students who attended the now-defunct Corinthian Colleges. Taxpayers could probably feel better about that move were it paired with efforts to shield federal student loan programs from high-risk ventures, such as Corinthian obviously was. But the move also paves the way for the administration to unilaterally implement proposals for more broad-based student loan forgiveness.
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