WASHINGTON – The Education Department is appointing a special monitor to help develop a debt relief program for students who attended the now-defunct Corinthian Colleges.
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It's part of a debt forgiveness plan that could cost billions of dollars.
Education Department Undersecretary Ted Mitchell says Joseph A. Smith will serve as special master. Smith has served as monitor in other high profile cases, including a settlement between the government and JPMorgan Chase.
Earlier this month, the department announced a plan to make it easier for students who attended Corinthian to seek relief for their federal loans.
Corinthian once was one of the largest chains of for-profit colleges. It nearly collapsed last year amid fraud allegations, and then went bankrupt in May.