The eligibility requirements for Art Institutes Closed School Discharges are quite simple. Basically – you had to be attending one among the Art Institutes that pack up while it pack up , or have withdrawn from the varsity within 120 days of the shutdown.
Here are the small print during a handy bullet-point list format:
You must have attended one among Art Institutes who are shutting down, and you weren’t ready to completed the tutorial program you were enrolled in at Art Institutes
You must have outstanding student loan debt from one among the subsequent Federal student loans: Direct Loans, FEEL Loans, or Perkins Loans.
The Art Institute closed while you were still enrolled – OR – Art Institutes closed within 120 days after you withdrew from the program.
As long as you’ve got the above requirements, you’ll eligible to receive student loan discharge from Art Institutes.
Following the outcry, the department announced in November of 2019 that it’ll cancel federal loans provided in 2018 to students at four Art Institutes locations — Art Institute of Michigan, Illinois Institute of Art in Chicago and Schaumburg. the choice benefited 1,500 students who took out loans to attend Art Institutes campuses between January 20, 2018 and December 14, 2018. Students who used federal Pell grants to attend the faculties that closed before they might finish their studies had their eligibility for Pell aid restored. DeVos also extended the window for closed-school discharge from four to 6 months for college kids at 24 other Dream Center schools, including Argosy locations, that had been shuttered. The extension helped include about 300 more students within the eligibility period of time .
Students are eligible to benefit from student forgiveness if they can successfully do one vital thing. As a student must successfully connect their Borrower’s Defense Claim to the lawsuit that brought down the Art Institute and its fraudulent activities. Please find below some of the necessary details you need to add to your application.
Monetary settlement figures
Links to reputable sources
Any other details you can provide to help build a strong case against the school.
Only after including all the necessary information, should you submit your application. Provided your application is successful, you can enjoy the art institute loan forgiveness, and get refunds for all your previous loan repayments. Since the benefits of this program are so significant, you don’t want to do anything that disqualifies you. Therefore, remember to pay close attention to the details and make sure to enter all the information required on the application form correctly. The application process isn’t challenging, but as mentioned earlier, you must complete it with extreme care. Please refer to the section below for details on the application procedure.
To successfully file a claim for the Borrower’s Defense Claim, you need to point out the facts that the school violated the law in its dealing with you, and you enrolled in the institute as a result of illegal marketing tactics employed by the school. The writing of the claim has to be thorough, living no stone unturned. In other words, it needs to be clear to whoever will process your claim that you would have never taken out a loan from the Art Institute to complete a course if you would have known otherwise.
Remember to emphasize the fact that you were misled by the Art Institute in the matter of the loan. This is easy to prove because the Art Institute agreed to make about $200 million available to students. For those who don’t know the full details or are not sure about the details of the Art Institutes dealings that led to its recent closure, please read the section below to find all the information you need to build a solid case.