We’ve put together a comprehensive list of for-profit colleges qualifying for student loan forgiveness. In the complex world of student loan debt, it’s crucial to know that relief options exist. For-profit colleges have come under intense scrutiny for their practices, leading to significant legal actions and settlements.
One such notable event occurred on August 4th, 2022, when a federal judge granted preliminary approval of a $6 billion settlement between the Biden administration and student loan borrowers who claimed they were misled by the institutions they attended. This settlement has opened up avenues for loan forgiveness for students who attended these institutions.
Our list includes for-profit colleges that have been identified in this and other settlements for their misleading practices, providing students with a resource to explore potential avenues for loan forgiveness. It’s important to understand that even if your school is not listed, you may still be eligible for relief under certain circumstances.
We’ve also included a section of frequently asked questions (FAQs) to help you better understand the process of applying for loan forgiveness, the eligibility criteria, and what to expect after you’ve submitted your application.
What are the common reasons for denial of a Borrower Defense application? The two most common reasons for denial of a Borrower Defense application are failure to state a legal claim and insufficient evidence. It’s important to clearly articulate how your school misled you and provide as much evidence as possible to support your claim.
What is the Borrower Defense customer service number? The official Borrower Defense customer service support number is 855-279-6207, also known as the Borrower Defense hotline.
Borrower Defense In Review? Borrower Defense Pending? After you submit your Borrower Defense (BD) claim online, your application will typically be marked as ‘SUBMITTED’ for about 24 to 72 hours. Following this, it will automatically switch to a ‘PENDING’ status, which can last for up to three years. Occasionally, your claim may enter an ‘IN REVIEW’ status, which might necessitate a ‘REQUEST FOR RECONSIDERATION’ or ‘ACTION REQUESTED’ status, requiring your immediate response. If your application is marked as ‘CLOSED’, it indicates that your claim has been denied. However, these statuses and outcomes can vary, and sometimes they may not align with the above explanation. The Department of Education is continuously working to improve this system, so your patience is appreciated. Remember, just two years ago, there was no ‘Claim Center’ at all.
What is the statute of limitations for the REIMBURSEMENT of payments I made on my loan through Borrower Defense? While there’s no time limit for applying for Borrower Defense discharge, there is a time limit of six years to reclaim funds you’ve already paid into a loan for a school that qualifies for Borrower Defense. In terms of discharge, if a borrower can demonstrate that the loan they received was due to an ‘act’ or ‘omission’ by the school they attended, which would justify a legal claim against the school under relevant state law, they would be eligible for Borrower Defense. This eligibility has no time restrictions.
EVEN IF YOUR SCHOOL IS NOT ON THE LIST – YOU STILL MAY BE ELIGIBLE