Sale: $24M
ED Take: -12M
Reserve withheld; -.5M
Trust fund: - 8M
** Foregiveness of Genesis Loans: -3.8M
Net to Corinthian after sale: -$.3M.
*At the Closing, Corinthian will forgive all principal, interest and other indebtedness under outstanding student notes held by Corinthian or any of its affiliates, with an estimated principal amount of approximately $3.8 million.
Who processed and serviced the Genesis loans? Could it be Socle?
I love how 384 declares OP to be incorrect and to "check your facts". OP and 408 are completely correct on their facts 384. Try reading clearly before posting for once.
What is the point? This is not a financial analysis site. It's about CCi jobs. The cheaper that ECMC gets us the better for us. The less financial/regulatory compliance issues inherit the better for us.
384: FED loans are not forgiven, but CCI is forgiving all Genesis loans.
Not true. Loans are NOT forgiven if there's a sale. You should check your facts.