Last Updated on January 3, 2024
After many ongoing lawsuits, Sanford Brown College closed in May 2015.
Many students have faced financial hardships and disappointment.
The Department of Education has offered many students financial relief. Previously enrolled Sandford Brown students may be eligible for loan forgiveness.
What Is Sanford Brown College Loan Forgiveness?
Sandford Brown College was an American for-profit college. It had 44 campuses in six states and offered students a wide variety of degrees. The college became overwhelmed by ongoing accusations.
After several lawsuits, the school was forced to close its doors.
Many students are eligible for student loan forgiveness!
Students are now wondering about their eligibility for student loan forgiveness. Read on to learn more, and determine if you are eligible.
What Happened to Sanford Brown College?
Various factors lead to the conclusion of the college shutting its doors.
First off, Sandford Brown has a complex history of misleading students.
Students have spoken out about misinformation about the quality of education provided. Prompted by claims the school provided about post-graduation employment opportunities. The New York Attorney General sued the college in 2010.
Sandford Brown College also had an unusually high student loan default rate. The school’s loan default was 21.8% in 2013. What makes this statistic shocking, is what it tells us about graduates. It alludes to more than a fifth of graduates being unable to find post-graduate work.
Criticism surrounding the high tuition fees played the third factor. Some students did receive scholarships and financial aid. These often did not cover the cost of the school’s tuition in full. Many students had to take on larger student loan debt as a result.
In May 2015, all the campuses of Sandford Brown College closed. Many students decided to try and transfer their credits to a new institution. Many students became disappointed to learn their credits would not transfer.
What Steps Can Students With Sanford Brown Loans Take For Loan Forgiveness?
Were you a student at Sandford Brown College? If so, you might be eligible for student loan forgiveness. The Department of Education has announced its forgiveness of student loans to students who attended. Also, the Department of Education can not pursue students for their loan debts.
Closed School Student Loan Discharge Program
There is one very easy way to have your student loan forgiven. It is through the Closed School student loan discharge program. This program is for students whose schools have closed. Only students who have taken on a federal student loan are eligible. This opportunity offers 100% debt forgiveness for Direct, FFEL, or Perkins loans.
Transferred School Credits
Some students were able to transfer their credits to a new school. These students are not eligible for Sandford Brown loan forgiveness. But if you stop studying or begin studying a new program, you may be able to have the previous debt forgiven.
It is best to contact your loan service officer if you think you may be eligible for financial relief. You should receive notice of your eligibility without having to take steps yourself.
You can avoid waiting long periods of time by contacting your loan officer. If eligible, you can receive loan forgiveness through the Closed School Discharge program. It is best to continue to repay your student loans. Do not stop until you have received approval for your debt forgiveness.
Borrowers’ Defence For Replacement
The Borrowers’ Defence to Replacement is a challenging student loan program. Direct federal loans are the loans forgiven. The FFEL and Perkins loans do not qualify. This loan forgiveness requires students to prove Sandford Brown College did mismanagement. Students will need to prove they made decisions under false pretenses. These pretenses were falsehoods that Sandford Brown College gave to students.
Education-related fraud is the only way to qualify for this Sandford Brown loan forgiveness program. Reasons you may cite could include the following:
- False information provided to you by Sandford Brown College
- Incorrect information about the educational quality you would receive
- The nature of the curriculum practiced at Sandford Brown
- The inability to transfer credits to another institution
- False information about post-graduation employment rates
- Incorrect student loan and tuition fees
Private Loan Borrowers
Unfortunately, students with private student loans are in a tougher spot.
There are no options for private student loan forgiveness. It is possible to refinance your student loans to lower and reduce your student loans.
This appears to be the only solution available for students with private loans.