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41,000 former students of a closed college may get $183 million to pay off their student loans

The Consumer Financial Protection Bureau (CFPB) and 13 state attorneys general have reached a settlement in a case that alleges private student lender Aequitas Capital Management conducted a predatory lending scheme, CNN reported. Aequitas funded loans to former Corinthian College students, with the knowledge that they were likely to default, the government claims. Former Corinthian students will receive $183 million once the settlement is approved by the US District Court in Oregon.
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