U.S. Department of Education to forgive some Student Loans

78,000 students have loans for attending colleges owned by Carinthian Colleges. Carinthian is a for profit company that operated a number of trade schools (Heald College, Everest and Wyo-Tech) and has now gone into bankruptcy. The U.S. Department of Education is planning to forgive some of the debts currently owed for student loans related to these colleges. At this point there is no indication that this action will be extended to any additional schools but perhaps it is at least a step in the right direction.