Unfortunately, you can’t apply for both programs. Therefore, you’ll got to choose the scholar loan forgiveness program that provides you the simplest chance of truly getting obviate your loans.
Let’s take a glance at the differences between the 2 programs so you’ll find out which one will work best for your specific situation.
The Department of Education also said it might give students at 24 other Dream Center schools that closed at the top of 2018 an additional month to possess their loans eliminated through a program referred to as closed-school discharge. The change will help around 300 borrowers, the department said.
A group of House Democrats had previously asked the department to increase eligibility for the program back further, to late 2017.
“For the overwhelming majority of defrauded students, this announcement cancels only alittle portion of the loans they took bent attend a failing school, ”Representative Robert C. Scott, a Virginia Democrat who is that the chairman of the House Education Committee, said on Friday.
The department has been under increasing pressure from lawmakers and courts that say it’s been stonewalling on student debt relief programs, which Ms. Devos has previously derided as “free money” giveaways.
Last month, a federal judge held Ms. DeVos in contempt of court for illegally collecting on loans owed by students who attended Corinthian Colleges, another defunct for-profit chain.
Last week, another federal judge certified a class-action claim against the department from nearly 160,000 borrowers who say it stalled their requests to wipe out loans from chains including Corinthian and ITT Technical Institutes. The program, referred to as “Borrower defense to repayment,” lets borrowers seek to possess loans canceled if their schools acted fraudulently. The Department of Education has not approved or denied one claim for quite a year.
For former students of the Art Institutes who want to apply for the art institute loan forgiveness under the Borrower’s Defense Against Repayment Program, please head to the official government website and complete an online application form to begin the process.
Note: Your claim will not be processed if you file through any other means apart from the official government website. There are student loan scams all over the internet now, and you don’t want to be a victim. Therefore, it is prudent to proceed with caution anytime you need to fill out an electronic form that requires personal information, especially in cases that involve financial details.
Check the Status of an Application
As with many state affairs, applications for the Borrower’s Defense Claim are not processed promptly. The timeframe for processing applications vary. However, an applicant can wait an entire year for the application to be processed. We advise you to exercise patience since the line must have grown even longer in recent times. Seeing as many more students intend to benefit from the Art Institutes loan forgiveness program.
This is a simple heads up to encourage students who might get discouraged if they do not hear from the Department of Education. Hence, it is advisable not to waste any further time. Apply right away for your Art Institute loan forgiveness program and have your student loan written off.
Forecasted Changes to the Art Institutes Loan Forgiveness Programs
According to the Secretary of Education, Betsy DeVos, the Borrower’s Defense program might be removed from the U.S educational system entirely. Therefore, you must move quickly, take advantage of the Art Institute lawsuit, and apply at the earliest. Until they sign the papers to get rid of the program entirely, students of the Art Institute can still benefit from loan forgiveness through the Borrower’s Defense Against Repayment.