The widely publicized student loan debt revolt started by a group of former students of Corinthian Colleges -- known as the Corinthian 15 -- has enlisted an additional 85 protestors. Enter the newly entitled "Corinthian 100."
As recently reported by The Washington Post, the "'debt strike' has picked up 85 more disgruntled borrowers" from Corinthian schools who are "willing to jeopardize their financial future to pressure the government into forgiving their student loans."
The Post says, "Corinthian, which runs Everest Institute, Wyotech and Heald College, has become the poster child for the worst practices in the for-profit education sector, including high loan defaults and dubious programs. Clouded by allegations of deceptive marketing and lying to the government about its graduation rates, Corinthian lost its access to federal funds last year, forcing the company to sell or close its schools."
"In the aftermath, current and former students of the for-profit schools have called on the Education Department to wipe away debt they say Corinthian pressured them into taking. After months of pleading with the department to forgive the federal loans, the students teamed with an offshoot of the Occupy Wall Street movement known as the Debt Collective. Together, they came up with the idea for the strike."
"It’s a dicey move because students who default can lose their paychecks, tax refunds or even a portion of their Social Security. Not paying back debt can also ruin someone’s credit, making it difficult to buy a house or car, or to get a job."