What happened to Corinthian Colleges?
The Corinthian Colleges was one of the largest for-profit company which provided a range of career and degree programs in different directions. By having more than one hundred campuses in both the US and Canada, including the most popular ones such as Everest, Heald WyoTech, the company generally targeted the vulnerable people who had lower income. Thanks to the massive number of lawsuits against Corinthian Colleges by the former students, the company was hammered by profound investigations.
According to the Corinthian Colleges lawsuit, the company was alleged for using deceptive business practices and aggressive advertisement tools (such as overstated job replacement rates and as if high salaries of postgraduates) to attract the students to enroll their degree programs. Corinthian Colleges Lawsuit consequently caused severe financial problems for the company and profound loss of public reputation. Eventually, in 27th April 2015, Corinthian Colleges Lawsuit resulted that the company closed down the all of its campuses.
After the federal government and other authoritative state organizations started to investigate Corinthian’s shady practices (Everest college lawsuit is one of the most popular ones) the company initially sold most of its schools and then, on April 27, 2015, Corinthian shuttered its remaining locations.
Corinthian Colleges Lawsuit
Assume that one of the largest educational companies of the country, promises excellent degree programs with a guarantee of a high-paid job after graduate. A quite attractive offer, isn’t it? That is strict enough to take out a student loan for attending Corinthian Colleges. Unfortunately, the most surprising part begins after you graduate. One of the main reason for Corinthian Colleges lawsuit is that the company failed to keep his words toward fulfilling job placements for postgraduate students. This case merely solved the destiny of Corinthian Colleges Lawsuit.
Because of a massive number of lawsuits of disappointed students and parents, Corinthian Colleges Inc. was pressured by federal enforcement actions. During a couple of years, the company was being hit by many punishments and sanctions for fraudulent activities against students such as misleading ads, false statements about job placement rates and average wages of students. Thanks to numerous lawsuits against Corinthian Colleges, profound federal investigations, and enforcement actions caused eventually that the company filed bankruptcy on May 4, 2015.
How to qualify for student loan forgiveness if you attended Corinthian Colleges?
Are you one of the former students of Corinthian Colleges? If it is yes, then there is good news for you. If you have attended one of the schools owned by Corinthian Colleges Inc., then you have a chance to be eligible for student loan forgiveness programs which could wipe out your outstanding student debts. Fortunately, in 2018, the U.S. Department of Education released that they are allocating $150 million for assisting the students who attended Corinthian Colleges including Everest, WoTech Technical Institute and, Heald, either. Federal Government came up with a particular plan – the Corinthian Colleges Student Loan Forgiveness Program which was initially announced by President Obama. The requirements to be eligible for Corinthian Colleges Student Loan Forgiveness Program satisfies the following criteria which are possible in two ways.
If you have attended any of the Corinthian Colleges which shut down on 27 April 2015, then you are eligible for Closed School Student Loan Relief Program.
The second alternative is that if you have experienced fraudulent activities such as lying to, deceptive commercial scams, etc., by the school you attended, then you qualify for Borrower’s Defense Against Repayment Program.
Additionally, you should have withdrew not more than three months before the school shut down and not enroll any other school during the three years from the date which your school closed
Any student who attended a Corinthian Colleges could be qualified for one of these programs, each of them has quite beneficial advantages, but, unfortunately, application procedures may take a long time to get approved. Especially, via the Borrower’s Defense Against Repayment program is hard to receive forgiveness due to the massive number of applications. If you would like to check that you are eligible for student loan relief quickly, there is one more useful tool. The Attorney General has designed the special online site which you can quickly check your eligibility, plus your legal rights and how to protect them. Here you can determine your eligibility status to be qualified for Corinthian Colleges loan forgiveness.
How to file Borrower’s Defense to Repayment application against Corinthian Colleges Lawsuit?
Now we have come to the most difficult and also interesting part of taking benefit of Corinthian Colleges Lawsuit case. If you think you have experienced a defrauded activity or misleading actions by the school you have attended to take out your student loans, you have a great chance. You can be eligible for Borrower’s Defense to Repayment Discharge to eliminate your outstanding student debts. Before jumping into the details, please keep in mind that BDAR discharge program is only available for Federal student loans.
Naturally, to get BDAR forgiveness, all you are going to need is documentary and legally prove that you were defrauded or mislead by the Corinthian Colleges which made you borrow money. The best way to convince the employee who examine your BDAR application is to use the Corinthian Colleges lawsuits facts to support your claim about the fraudulent practice you have been undergone.
Remember, filling Borrower’s Defense Against Repayment application is a strictly legal procedure, you have to make your arguments crystal clear. Try to show the legal accusation elements of Corinthian Colleges lawsuit as the main persuasive reason for your choice to borrow money to attend Corinthian Colleges. As we mentioned earlier, to file BDAR application against Corinthian Colleges lawsuit may take a long time and exhausted effort or energy till get approved, that is why it would be better to consult with legal or finance professionals (please, pay strict attention to the “professional” part).
How to benefit the Corinthian Colleges Lawsuit through the Corinthian Colleges Closed school relief program?
If you have attended any of the Corinthian Colleges, another option to wipe out your massive amount of debts is Corinthian Colleges Closed school forgiveness program. This program gives you a chance to receive 100% forgiveness on your student loans, and cover up not only Federal Direct loans but also Federal Family Education Loans and Federal Perkins Loans either. Additionally, there is one more good news that by applying the Corinthian Colleges Closed school relief program, you also could receive a certain refund for any amount which you have already paid to Federal Government on your loans.
Besides all these positive sides, there is also some caution you have to be aware. It would be better to keep in your mind these following requirements. You are NOT eligible for Corinthian Colleges Closed school relief program if :
- You have already completed your degree programs at any of the Corinthian Colleges
- You have attended another school to transfer the credits you have earned at Corinthian Colleges
- You were not attending to Corinthian Colleges until the date it closed.
- You withdrew from Corinthian Colleges before the date 20 June 2014
If you think you cover any of these conditions, unfortunately, you will not qualify for Corinthian Colleges Closed school relief program. But don’t worry, you can apply for BDAR program against Corinthian Colleges lawsuit to get your student loans forgiven. Finally, it worth to notice that due to complicated legal procedure, if you feel need to apply for some people for advice, please be careful and make sure that they are official, legal and professional. Because these processes are the real opportunity for student loan forgiveness scams, and you would not trap into it.