Thirteen U.S. Senate Democrats are pushing Education Secretary Arne Duncan to wipe out federal loans given to students who enrolled in a troubled for-profit college that’s being dismantled amid federal and state investigations, the Wall Street Journal reported today. Sen. Elizabeth Warren (D-Mass.) and 12 other Democrats, sent a letter on Tuesday urging Duncan to “immediately discharge” federal student loans for students at schools owned by Corinthian Colleges Inc., which reached an agreement with the federal government over the summer to dissolve itself. By taking out student loans, borrowers “are making a serious financial decision that will affect them for years to come,” the lawmakers wrote. “If colleges fail to hold up their end of the bargain — if they break the law in ways that bear on their students’ educational experience or finances — students should not literally be stuck paying the price.”
