Source: Danielle Douglas-Gabriel, Washington Post ( Paid Registration )

The Biden administration will forgive $5.8 billion in debt held by 560,000 former students of the defunct for-profit chain Corinthian Colleges.

The decision covers people who were enrolled in Corinthian schools — Everest Institute, WyoTech and Heald College — from its founding in 1995 to its closure in 2015. Former students are not required to submit an application and will receive a letter from the Education Department informing them of the pending discharge.

Read Full Article: Education Dept. to clear $5.8B in debt of Corinthian Colleges students