Government names special monitor to help with debt relief plan for Corinthian students

College PlanningAssociated Press

The Education Department is appointing a special monitor to help develop a debt relief program for students who attended the now-defunct Corinthian Colleges.

It's part of a debt forgiveness plan that could cost billions of dollars.

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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.