Canceling the Corinthian borrowers' debt would likely represent a significant cost to the federal government in the form of forgone future monthly payments. Consumer advocacy groups reckon that the feds are more concerned about the potential fiscal cost of debt forgiveness than about making cheated borrowers whole. “The burden should not be on innocent students—that obligation lies with those who failed to protect them in the first place,” said Randi Weingarten, president of the American Federation of Teachers.
This article was provided by Bloomberg News.