He matriculated at Brown University,[2] where he graduated as class valedictorian earning bachelor's and master's degrees in 1922.

He attended Harvard Law School, graduating high in his class in 1926 and gaining the recognition of Felix Frankfurter.

When Roosevelt began to take notice of his efforts, Corcoran was given a wider range of responsibilities than his official position as assistant general counsel allowed.

As an ally of RFC Chairman Jesse H. Jones, Corcoran exercised power far beyond the authority of his office.

Felix Frankfurter had recommended many of his former Harvard Law students for work in the Roosevelt Administration, including Corcoran, leading the latter to be associated with a group known as "New Dealers."

[8] After leaving the White House, Corcoran retained enormous influence in the administration, in part because of high appointees who owed their positions to him.

[10] The transcripts of the wiretaps were deposited in the Truman Presidential Library and not released to researchers until Corcoran's death.

[18] His granddaughter, Sara Corcoran, earned her undergraduate degree and MBA from the University of Southern California.