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Thousands of Students may discharge their student loans after their schools abruptly close, but sadly most of them are unaware of how fast and easy it is to apply.
QUICK VERSION: If you or a loved one have been attending one of the ECA closing schools, you may be entitled to discharge your student loan. Applying for a claim evaluation is quick, confidential and there is absolutely no cost.
Thousands of Students May Discharge Their Federal Loans.
It’s important for you to obtain your academic and financial aid records if your school closes since you might need those records if you plan to attend another school or want your student loans discharged.
You may be eligible for a 100 percent discharge of your William D. Ford Federal Direct Loan (Direct Loan) Program loans, Federal Family Education Loan (FFEL) Program loans, or Federal Perkins Loans if you were unable to complete your program because your school closed, and if
- you were enrolled when your school closed;
- you were on an approved leave of absence when your school closed; or
- your school closed within 120 days after you withdrew.
Students May Also Discharge Some of Their Private Loans.
Private Students Loans may also be discharged. The procedure would often depend on the conditions of such loan, a position that a private loan company takes and student’s or his/her representative’s ability to effectively negotiate a discharge.
Students are now applying for a confidential claim evaluation to see if their loans could be discharged.
Some Students Are Worried That Receiving a Diploma or Transferring to a New Program Will Affect Their Eligibility for Student Loan Discharge.
Sadly, some students will not apply for claim evaluation because they are worried that their transfer to a different program or receipt of a certificate will disqualify them from student loan discharge. This is not only wrong, but it’s in fact, quite the opposite.
Before closing, some schools may issue a diploma or certificate to students who did not complete the program of study. According to the U.S. Department of Education, if you did not complete your program of study, the fact that the school gave you a diploma or certificate does not disqualify you for discharge. Transfer of credits from the closed school to a completely different program of study at the new school also does not disqualify you for discharge.
Many Students Simply Don’t Know How Much Impact Does It Create On Their Future.
Some students will downplay what happened to them and will push it on the back of their mind. Not only may this cause financial difficulties and distress overtime, but this is simply unacceptable that students would continue paying their debts for education that they have never completed. When you Apply for claim evaluation Today you will make one step closer to demanding justice for yourself and also making a step towards your financial freedom.