Attorney General Andy Beshear announced Thursday that 120 former Kentucky Corinthian College students will receive more than $790,000 in loan debt relief.
Beshear joined 12 states and the U.S. Consumer Financial Protection Bureau on a settlement that claims Aequitas Capital Management enabled Corinthian College to take advantage of students through predatory loans.
Beshear’s office said the now defunct Corinthian College targeted students seeking online courses at Everest College and Everest University. Corinthian also promoted its WyoTech program in Kentucky to recruit students to WyoTech campuses in Pennsylvania and Florida.
Under the settlement, students with active loans will have their principle loan amount reduced by 55 percent and given minimum payment options. The loans of students in default will be forgiven entirely.
