by Kentucky Press News Service

FRANKFORT – Attorney General Andy Beshear Thursday announced that 120 former Kentucky Corinthian College students will receive more than $790,000 in loan debt relief from a proposed settlement with Aequitas Capital Management.

Beshear joined with 12 states and the U.S. Consumer Financial Protection Bureau on the proposed settlement with a court-appointed receiver representing the Oregon-based private equity firm and related entities. The settlement ends claims Aequitas enabled the defunct for-profit Corinthian College to take advantage of student borrowers through predatory private student loans.