For-profit college magnates Corinthian Colleges and ITT Technical Institute shuttered operations in recent years after facing state and federal investigations into fraudulent and predatory practices. After the school chains closed, tens of thousands of students who borrowed money to attend them found themselves with worthless diplomas and saddled in debt. The Department of Education under President Barack Obama made it easier for students to submit “borrower defense claims” to try and recoup the funds. By January 2017, the administration announced it had granted more than $650 million in relief to roughly 28,000 Corinthian and 6,300 ITT students.
