The email was a godsend for Chris H. Caton.
After four years of waiting, the Education Department agreed he’d been defrauded by WyoTech, a career school owned by Corinthian Colleges, and was entitled to the full cancellation of his federal student loans.
The news couldn’t come at a better time. After a stint of homelessness, Caton, 37, had a thriving business doing street rod fabrication, making enough money to catch up on his bills and save for his own home. But mortgage lenders were skittish about student loan defaults on his credit report, he recalled, and said the $18,000 he still owed made his debt-to-income ratio too high.
