ITT Technical Institute was founded in 1969. As one of the largest educational institutes in the USA, ITT Tech Institutes were closed on September 2016. After the investigations, it became clear for everybody that university defrauded and misled the students. If you are a victim of ITT Technical Institutes, the good news is you may be eligible for ITT Tech loan forgiveness in 2019. The investigations started in 2004, showed that ITT Tech used fraudulent actions against students. For instance, it used high-pressure recruiting tactics, counterfeited paper documents, and lied about the quality of education. All these deceitful actions dragged the institute to its closure. There are various ways to get ITT Tech loan forgiveness.
But first, let’s investigate the reasons behind the closure of ITT Technical Institutes.
Reasons behind the closure of ITT Technical Institutes
ITT Technical Institutes closed its doors permanently. Over 130 campuses in various states of the US, and after approximately 50 years of operation on technical education, the closure of the institutes was a shock for everybody.
ITT Technical Institutes closed its doors after the sanctions. The shutdown of the school had a direct impact on students, as well as the school stuff. The students of ITT Technical Institutes have the chance of getting rid of their student loans.
ITT Tech bankruptcy settlement
The great news for the students of ITT Technical Institute who attended from 2006 to 2016 is that there is a chance to get student loan forgiveness. A federal bankruptcy settlement was $600 million for approximately 750,000 students. Students who paid for-profit chain will also get $3 million refunds according to the agreement.
This bankruptcy settlement is perfect for the students to get ITT Tech loan forgiveness.
ITT Tech Student Loan Forgiveness Options
If you are one of the students of ITT Technical Institutes who is looking for student loan forgiveness, the good news is you have the opportunity to get rid of them. After ITT Tech announced its closure, former students have got the options below to eliminate their ITT Tech student loans:
- Closed School Loan Discharge
- Borrower Defense to Repayment Discharge
- Transferring earned credits
In the next section of our article, we will look through the requirements, application process and more for each program available.
Closed School Loan Discharge program
If your school, ITT Tech closed its doors while you were attending or shortly after you withdrew, and you didn’t complete the study program, you have the opportunity to get ITT Tech loan forgiveness through Closed School Loan Discharge program. This program offers 100% forgiveness to the students for their federal direct loans. With the Closed School Loan Discharge program, you can even get a reimbursement for the amount you paid for the service ITT Tech student loans.
Let’s now identify the eligibility requirements and the application process to the program in 2019.
Closed School Loan Discharge: Eligibility requirements and application process
The eligibility requirements for ITT Tech Institute Closed School Loan Discharge is mainly about your enrollment at the university. If your school is closed while you were enrolling or you withdrew within 120 days after the school’s shutdown, you are eligible for ITT Tech loan discharge for your student loans. The point here is that your debts should be federal student loans.
After you find out that you are qualified for the program, your next step should be the application.
These are the main ways to apply for the Closed School Loan Discharge program. To get ITT Tech loan forgiveness through Closed School Loan Discharge, you can:
- Complete the Closed School Loan Discharge Application form and return it to your loan servicer.
- Get in touch with your loan servicer.
ITT Tech Student Loan Forgiveness via Borrower’s Defense to Repayment Discharges
If you are among the victims of ITT Tech Institutes’ fraudulent actions, you have the opportunity to get rid of your student loans. The settlement against the school shows that it committed deceitful behavior against the federal state and the students. Here is your chance in 2019, Borrower Defense to Repayment Discharge.
Apart from the Closed School Loan Discharge program, students now can get ITT Tech Loan Forgiveness via Borrower Defense to Repayment Discharge. With the BDR, you may discharge all your student loan debts and even get the benefits: you can get the refund for the amount you paid previously for your student loans.
There are thousands of student who is struggling with their ITT Tech student loans, make sure you are applying to the program accordingly. Follow our guide to get ITT Tech loan forgiveness.
Do you qualify for Borrower Defense to Repayment Discharges?
The primary eligibility requirement for qualifying Borrower Defense to Repayment Discharge is your school should cause deceitful actions against you. You have to show the proofs that ITT Tech violated the state laws and defrauded you. Make your claim strong enough to get the loan forgiveness. You need to convince the Department of Education that ITT Tech misled you and you deserve the student loan discharge.
The application process for BDR is about submitting the online application form with the additional documents supporting your claim. Complete the application form, sign and send. Pay attention to the instructions, fulfill the required information accordingly, get your ITT Tech loan discharge application request approved.
Transfer earned credits to another school
Many students affected unpleasantly by the closure of ITT Technical Institutes. The main worries were about student loans. Nevertheless, some people want to carry their education somewhere else. If you are a former ITT Tech student, note that it is possible to transfer your credits to another school.
You may want to discharge your student loans or to get the education with a similar program in a different university. Make sure you use your earned credits from ITT Tech on the according to the program, as you need to get approval from the university. After you are accepted, you will determine the courses you need to take with your new institution.
There is a possibility of getting a rejection from the universities. In this case, it is better considering the ways to get a refund or loan forgiveness via Closed School Loan Discharge.
The Department of Education is also working together with the officials of ITT Tech, to find out the ways to transfer the students to other schools.
After the closure of ITT Technical Institutes, the students have a high chance of getting ITT Tech loan forgiveness. As the school is settled on many counterfeit actions against the students and the federal state, it was inevitable to prevent the shutdown.
If you are a victim of ITT Tech fraudulent actions, you may get the discharge via Closed School Loan Discharge program or Borrower Defense to Repayment Discharge for your student loans. You may want to continue your studies on your study program. As we already mentioned above, there is an option for this as transferring your credits to another school to a relevant academic program. Take your notes on the application process and the eligibility requirements for each program and get ITT Tech loan forgiveness for your student loans.