In 2016, Westwood College announced that it would close its door in further months. The students of Westwood College received an email about their options for transferring credits as well as student loan information. In 2016, March, Westwood officially acknowledged the closing of all campuses. If we just have a look at the case, the reasons for the lawsuit are self-explanatory. As a for-profit organization, Westwood College targeted vulnerable students trying to better their lives, via predatory sales practices, fraud and scamming students. Enrollment counselors dedicated their efforts to increase enrollment at their college. We are going to cover all the information that borrowers need to know about Westwood College Loan Forgiveness options available.
Westwood College Scams
The students were easily distracted by high-pressure sales tactics, misleading information, inaccurate job placement, and income projections. Of course, after attending the classes, student were testifiers of the considerable difference between empty offers and reality, especially after graduation. All these are reasons for many students claim lawsuits against Westwood College.
In 2018, 13 December, the U.S Education Department announced that they are approving $150 million in Borrower’s Defense to Repayment Discharges. This program allows the students who have attended Westwood, benefit from Westwood College loan forgiveness for students loans. Thanks to the number of lawsuits against Westwood College, student loan forgiveness benefits are available in 2019. You can take advantage of student loan forgiveness for Westwood College closure. There are two options which offer excellent discharge programs. First of all, you can apply for Borrower’s Defense to Repayment Program which gives you a chance to challenge the legal validity of your student loans.
The other alternative is the Closed School Student Loan Discharge Program which allows you to qualify for complete forgiveness if you were still enrolled as a student by the time that the Westwood College was closed. In further steps, you will find all the detailed information. These instructions will guide you on how the students could use the recent lawsuits against Westwood College to be qualified for Westwood College Student loan forgiveness.
Do I qualify for Westwood College loan forgiveness?
If you have already sent your BDAR application, then you have a great chance to receive Westwood College student loan forgiveness during this wave of approvals. All you need is just keep your eyes on your emails carefully, as Department of Education started issuing alerts to notify borrowers about approvals. Or if you have not submitted your application, then it would be recommended to start today. Don’t miss your chance of being included in this round of approvals.
But before jumping to the details, we would like to offer you a faster shortcut. You will not need to do hours of research, stuck on a truckload of paperwork and tons of stress. Instead, by simply calling Student Loan Resolved helpline, you can enjoy observing the ongoing application process and successful accomplishment. Our team specializes in getting people out of student loan debt and in a few minutes the professional team members can find out which Federal and Private Loan Forgiveness Programs you qualify for.
Also, we will provide you with all the details on what is required and guide you through filling out the needed paperwork and applications.
There are two alternative ways to get loan forgiveness for Westwood College students.
- The Borrower’s Defense Against Repayment Program
- The Closed School Studen Loan Discharge Program
The first step you are going to make is to determine which of these options will work best for you. Because you can choose only one of these alternatives. Also, to save your time and money, it is better to focus on one path that has got the best chance to win Westwood College student loan forgiveness. Let us have a closer look at these options in detail to find out which one is best for you.
Westwood College Student loan forgiveness via the Borrower’s Defense to Repayment Program
The Borrower’s Defense to Repayment Program gives you a chance to get rid of the student’s loan. Of course, this loan should be taken for a purpose of attending a school which violated the legislation and did something illegal such as misrepresenting their servicing, fraudulently advertising and release false statements, etc. In our case, it is clear that Westwood College acted in an illegal manner by violating all sorts of laws in terms of using deceptive business practices to persuade the students to enroll in education programs. To get loan forgiveness for Westwood College students, the best way to make it evident that you feel you were defrauded and misled by Westwood College.
Try to link your claim to the public admission of guilt that Westwood has made like $4.5 million settlement with Colorado Attorney General. When you fill out your Borrower’s Defense application correctly, and if the Education Department continues to process them properly, then you can enjoy being qualified for a complete and total discharge. Another piece of good news: you will get not only discharge for your loans but also refund of any money you have already paid Westwood.
Westwood College student loan forgiveness via the Closed School Loan Discharge Program
In case you think that you were not defrauded or mislead by Westwood, or you don’t want to use the Borrower’s Defense to Repayment program, you still have another possible pathway to forgiveness. There is good news for a group of students who were not able to graduate from their degree programs owing to the school closed down during academic years.
The Closed School Loan Discharge Program was created with the purpose of helping these students. This program implies any Westwood student who was still actively enrolled until Westwood closed its doors or who left the school no more than 120 days before it shut down. If we consider the fact that Westwood College officially closed on March 8th, 2016, it means that you will be qualified for Westwood Closed Student Loan Forgiveness if you were attending to the school no more than 120 days until March 8th,2016.
One thing you should keep in mind is to make sure you do not have any other similar educational programs at another school. Simply, you should not receive the official diploma by the time the school closed down. If you think you satisfy those conditions and requirements, it means you have got a really good chance to get total loan forgiveness for Westwood College student.
Which program is better? Borrower’s Defense or Closed School Discharges?
To be honest, it depends on your situation. Actually, both of these programs help by getting rid of your student loan debt ( or whatever’s left) and provide reimbursements (refund for the money you already paid). From the perspective of the financial amount, there is no significant difference between the two of them. On the other hand, it is worth to notify that to pursue the Closed School Loan Discharge could be probably more preferable. Because Borrower’s Defense application process takes a long enough time to be approved. Therefore it would be better to check the application to Closed School Loan Discharge to gain loan forgiveness for Westwood College students.
Should I pay taxes on Forgiven Debt?
Sorry for bad news, but unfortunately yes. Because IRS apply rules for Westwood Student Loan Forgiveness and Taxes which require a report for any forgiven debt as taxable income. You can find all the details about taxes for forgiven debts in here.