Ashlee Kieler at the Consumerist looks into the problems confronting the students at one of the colleges under Corinthian umbrella, colleges that are all slated to die to save the student aid game.
It turns out that someone once wrote in a magic clause to the student aid bill that lets you walk away from your loans if the school closes. It doesn’t happen that often so no one is that versed in it but it could mean that everyone at Corinthian could magically walk away from their debt and dump it all on the back of Uncle Sam. Whoo hoo!
But if Corinthian is allowed to “teach out” their students, well, no dice.