Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

More than 250,000 of Corinthian Colleges’ victims will be able to get out from under massive and fraudulent student loan debts, Education Secretary John King will announce Friday in Boston.

1. What is the big asterisk that the article refers to?
2. How many schools and how many states are involved in this scam?
3. What amount in loan discharges have already been issued?
4. According to the article, how much money did Corinthian scam in loans over the 5-year period of its existence?
5. Do you think that the Department of Education is doing enough to reach all of the victims of this fraud? Discuss.

Pyke, A. (2016). Feds Will Forgive Debts For 250,000 Corinthian College Victims – But There’s A Big Asterisk. Think Progress, March 25 (Retrievable online at