While the average private loan at Corinthian is around $4,700 per student, federal loan debt ranges from $9,000 to $28,000. Corinthian peddled its Genesis loans, with interest rates around 15%, to students to meet a federal requirement that 10% of school revenues come from private sources, then harassed them for payment. More than 60% of Corinthian students defaulted on their loans within three years.
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