Art Institute Of California Closes
The art institute loan forgiveness of California in North Hollywood, a nationwide nonprofit vocational school that has sent many alumni to below-the-line jobs in Hollywood, closed on Friday.
Students were informed by email, many of them blindsided as they lined up to urge transcripts at the campus building. the varsity is a component of Argosy University, which filed an emergency notice with the US Department of Education on Wednesday to shut 22 campuses across the state .
The North Hollywood school offered programs in visual design, animation and film, among other courses.
The closures come because the parent company, Dream Center Education Holdings, is accused by the DOE of mishandling about $13 million in federal aid money. Argosy allegedly used the cash to hide payroll costs and other expenses and was cut-off from aid , which effectively forced the faculties to shut .
This is a FOR PROFIT institution taking advantage of scholars and their federal aid. it had been allowed to maquarade as a NONPROFIT thanks to regulations put in situ by Betsy Devos. it’s disgusting how these places cash in of film students hopes and dreams. this is often not the humanities suffering, this is often folks that cash in of them foundering after sucking the poor students dry. this is often an enormous blow to enrolled students (the victims) but the shuttering means more victims won’t fall for the trap. These schools are everywhere l. a. operating with a Forprofit mandate albeit they’re allowed to pretend to be non profit.
The Department of Justice charged Education Management Corp, which also happens to be the former owner of the Art Institutes, a total of $11 billion for federal funding fraud. To prevent further liability and legal actions from various stakeholders, Education Management Corp consented to settle $95 million. The Art Institutes are not the only higher education institutions caught in the net of these lawsuits. Between 2016 and 2019, about 50 chain and individual colleges were made to forcefully shutdown. A good example is the case of ITT Technical Institute, Brightwood Career Institute, and Le Cordon Bleu Colleges.
Like the Art Institute, the closure of these institutes means enrolled students who took student loans are eligible for loan forgiveness. Keep in mind that different eligibility and requirements will apply to different schools and students. Students of the Art Institute, who were affected by the fraudulent dealings and closure of Education Management Corp schools can find vital information concerning art institute loan forgiveness on this page.
Type of Art Institute Loan Forgiveness
There is a glimmer of hope for students whose present and future financial conditions were affected by the recent closure of the Art Institute colleges. A large portion of students are getting loans forgiven under the Art Institute loan forgiveness programs. Students caught in the unfortunate incident of Educational Management Corporation’s demise can apply for loan forgiveness in two ways:
The Closed School Student Loan Program
The Borrower’s Defense against Repayment Program
Closed School Student Loan Discharge
The first student loan forgiveness program (The Closed program) is operational under the federal government’s long-standing intervention in the case of students from colleges that were closed down due to one reason or the other. Therefore, if your college closed down before you get the chance to finish your education, you may be eligible for this discharge program. Under this program, you must have left the school no more than 120 days before its closure, or you were still a student at the art institute before its close down.
These are the two general eligibility criteria for students under this program. Former students can obtain the art institute loan forgiveness under these provisions.
Who Is Eligible?
There is a lot of information online about the Closed Program. Students can, at times feel overwhelmed with an avalanche of information. Hence, we have simplified the information so you know what to look out for and determine if you can benefit from the art institute loan forgiveness program. To make the best of this information, please take your time to review it before carefully applying for the program.
As explained earlier, students get loans that they took during your study at The Art Institute written off if you meet two essential criteria.
If you happen to be a student at The Art Institute before its closure.
If you completed or left the school less than 120 days before the day it closed.
Apart from these two, there are two other minor requirements that you need to meet before you apply for an art institute loan forgiveness program. These are :
Students currently enrolled in another institution after the transfer of their credit do not qualify
Students who have completed their coursework prior to the closure of the school but are this Discharge program.
With these three requirements in mind, you can confidently determine your full eligibility if you happen to qualify for the program. We strongly encourage you to apply at the earliest and benefit from the loan forgiveness. Keep reading to know how to apply for forgiveness.
On the other hand, this article is going to show the degree to which borrowers can become advantaged by getting familiar with the situation. Also, it could develop the necessary skills not to get stuck in the position for a while. However, it is also vital to point out that knowing what ongoing trends are within the framework. Therefore, let’s dive into the details of how Ashford University student loan forgiveness program could determine your further developments in career path. Also, it could improve them in a very positive way. On the other hand, analyzing through what is essential in terms of realizing how far the conditions could get you into trouble. Hence, while starting to think about Ashford university student loan forgiveness, you need to get informed on how things are going to emerge.
However, student loans stand as a significant problem in the way. Once you solve the obstacle, then building up career turns out to be more accessible. In this way, Ashford university student loan forgiveness comes forward as an incentive for borrowers to solve the problems. At the same time, they should be aware of what they are doing.
How to Apply for the Closed School Discharge
To apply for the art institute loan forgiveness through the discharge program, you need to get the necessary documents and information ready and visit the federal student loan aid website.
NOTE: The link takes you to the official government website and is reliable. Also, remember to watch out for scams and fraudulent websites. Avoid these websites and apply at the link above.
Below Are the Steps to Apply
Download the application from the link.
Complete it by providing the right information for all the different fields.
Submit the filled form to your loan servicer.
In case you don’t know who your loan servicer is, it is the same company that you make your monthly student loan payments to.
Remember, every student loan servicer may have their procedures in place for working on your Closed School Discharge application. Therefore remember to contact them for more information and clarification on the matter. For students who do not qualify for art institute loan forgiveness under this program, consider the Borrower’s Defense Against Repayment. You can find the details below.