The federal office of Education has agreed to expand student loan forgiveness for those that attended now-defunct Art Institute schools in Colorado and Illinois. and that is on top of what they’ve already done.
Last November, Education Secretary Betsy DeVos said the department would cancel about $ 11 million in federal loan student debt for loans taken out between Jan. 20, 2018 and when the Art Institute campuses closed December of that year. the faculties lost their accreditation on Jan. 20, 2018.
At that point , the department also extended eligibility for closed school discharge to Saints Peter and Paul , 2018, meaning students enrolled on, and after, that date would be eligible for full relief on their federal loans still owed, also as a refund of the loans they already paid. Students who are enrolled when an establishment closes or withdraw no quite 120 days before a closure are eligible for this type of loan forgiveness. In November, the department said during a release that that “window are often extended in exceptional circumstances at the discretion of the Secretary. ”
On Thursday, the department confirmed that it’s extended that window to the date that the Colorado and Illinois schools lost their accreditation. during a statement, the department continued to put blame on the schools’ accreditation agency, Higher Learning Commission: “Because HLC appears to possess violated its own policies and our regulations, and harmed students by claiming these school were unaccredited, the Secretary has used her discretion to increase the design back period for closed school loan discharges to Jan 20, 2018.
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.