Kaplan was one of a leading for-profit Universities which promise bright future of its students. The university offered lots of various mix of degree programs. Kaplan university presented eight unique school and 75 majors to its students. The students of this university could benefit from the programs and be part of CareerNetwork to search jobs 7/24. The university also helps the students earn different diplomas and certificates. Additionally, students could permit themselves to become transparent when the study program is stressful. Recently, the university has become in the center of critical observations as one of the students of university claim that the trainers of the programs are not high-qualified. After the affirm of a whistleblower, The Department of Justice began an investigation. As a result, 289 students will benefit from Kaplan university financial aid.
Are you one of these students? Then let’s get details of this Kaplan university financial aid.
What was the problem related to Kaplan University?
There are several campuses of Kaplan University all over the United States. Kaplan College-San Antonio, Kaplan College-San Antonio are some of them and locates Texas. As we mentioned above,Kaplan University offers lots of different diploma and degree programs. Medical Assistant is one of these diploma programs. Also, the students of this university could benefit federal programs. These federal programs help eligible students to get a higher education. This program was offered people who wanted to work in the health-care field. Also, students of Kaplan University could choose either to specialize in counseling psychology or to study the fundamentals of psychology.
The whistleblower, Leslie Coleman accusing the university of employing the inopportune instructors who are not eligible to teach Medical Assistant courses. The lawsuit supposed that the university received and requested federal tuition funds for courses. After the investigation, the lawsuit discussed terms with the university and came to the agreement. Now the Kaplan University will pay $1,329,753.25, and $1,077,000 of this amount will be paid like a tuition refund. About 289 students will benefit from this Kaplan University financial aid. As a result of the settlement, the students’ loan debt will decrease.
How can I benefit from Kaplan University financial aid?
If you want to get rid of student loan debt and you are a former student of Kaplan University, then you are available for Kaplan University financial aid. There are two ways that you can benefit. One of them Closed School Student Loan Discharge Program and the other Borrower’s Defense Against Repayment Program. You cannot benefit from both of them, but needless to say, these programs help you avoid useless monthly payments. Of course, first of all, you should choose one of these programs which suitable for you.
Which of these programs are the best?
Both Closed School Student Loan Discharge Program and Borrower’s Defense Against Repayment Program give you the immense opportunity get back your past payment, and these programs wipe out your student loans. But pay attention that if you want to get a quick result, it had better choice Closed School Discharge program. On the contrary, get a result from Borrower’s Defense Against Repayment Program takes some time. Some people wait over a year to get a result from the Department of Education.
If you former student of Kaplan University it gives you a chance to benefit from Kaplan University financial aid or to get profit from Kaplan University student loan refund. Closed School Loan Discharge program is one of these priorities which help students avoid student loans. Of course, you can benefit from this option under certain conditions. For instance, you can get advantage from this program either you were studying at this university at the time the Kaplan University closed, or you left the university within 120 days of the closure.
Moreover, there are two conditions as well, which you can interest in. These conditions are:
First of all, as a former student at Kaplan University, your credits did not transfer to your current school, which you are attending. Second, you could not complete the whole coursework at the Kaplan University and failed to get a diploma before it closed.
We recommend you before making a choice get detailed information about both of these programs.
Want to get further information about Closed School Student Loan Discharge Program and Borrower’s Defense Against Repayment Program to visit our website.
Should I pay taxes if my student loan debt is forgiven?
Even if your student loan is forgiven, you should pay taxes. What should you pay that taxes? Because IRS think that the forgiven debt is taxable income, as you should claim it as income on your annual IRS tax return.
How much should I pay?
For example, your $100,000 student loan debt forgiven with the help of Kaplan University financial aid. IRS claim that that year which your student loan is forgiven, you have made an additional $100,000. Taking into account 30% income tax rate, you should pay $30,000 to the IRS. But the adverse of this process, you should make the whole payment at the same time. Let’s accept that it is not easy for the majority of us because most of the students struggle with student loans and repay all debt by cash is quite hard.
What was the illegal activity of Kaplan University?
The lawsuit found the Kaplan University guilty because of several serious illegal activities. First of all, the university misrepresented the current academic programs which they offer. For example, as we mentioned above, decrease the period for the complete degree program, changing the study grades which make the unqualified students eligible for the study program. Besides, underrate the degree program costs.
Secondly, to get additional student loan money, Kaplan University gave a chance the students to enroll to the university. The main adverse of this process, these people had not got a proper educational background. However, these students have completed the study program even they were not suitable for the programs.
Also, they were inflating graduation rates, and it was one of these allegations. To get more profit from different Federal student loan programs Kaplan university helped students to continue their study even they could not pass their courses. At the same time, the university cheated the US Government and the American Taxpayer.
How’s all of these work?
Kaplan University has organized all of these illegal processes with the help of legal documents which in reality was false. In this way, their inferior academic programs would be accredited and as consequences of this process make the university guilty.
What should I do to get advantage from Kaplan University financial aid?
To deal with student loan forgiveness programs quite a tedious process, which requires lots of time and temper. Either to choose the right option or to prepare the necessary documents to get a proper repayment plan and benefit from the right forgiveness program. So in such kind of problems, we advise you professional assistance. The expert assistance shows you the right way and handles your work. Our company offers you a variety of solutions related to student loan repayment options and programs. Our experts review your problems and give you proper advice which helps you eliminate the issues. Do not wait so long and contact our professional experts. We are here to be a solution to your problems.