Fortunately, the United States Government, the Corinthian Colleges company, and the student loan servicers came together to produce what’s commonly called the Corinthian Colleges Student Loan Forgiveness Program, which provides a route for having your Corinthian-related public and private loans forgiven.
For details on how to use the Corinthian forgiveness program, make sure to visit my page about it here.
To get your Borrower’s Defense Against Repayment application approved, all you need to do is prove that your school or lender lied to you in some way, like via false advertising or making deceptive claims, promising a certain job title, salary, or other expectation of some sort, or doing something else that violated State or Federal law, and which was instrumental in convincing you that it was a good idea to borrow that money in the first place.
Again, Borrower’s Defense to Repayment discharges involve a complicated process, but one that you can complete entirely by yourself, and which people with a background in research, writing and especially law will probably want to do on their own.
As a result, protests erupted across the country, with thousands of former students publicly demonstrating that they would refuse to pay back their loans, and this sparked a bit of a panic across the student loan industry, and Congress.
To get approval for a Closed School Loan Discharge, you have to be able to prove that you were attending the school (actively enrolled as a student, taking courses, or on some sort of break, but still pursuing your higher education credentials) at the time that the school shut down.
It’s not that difficult a process, however, as all it requires is getting transcripts from the school you attended, and submitting those to whoever services your loans.
And it’s a huge opportunity for anyone that is really stuck in the situation of having invested time and money toward a degree program or other credential that literally could not be completed since the school shut down smack-dab in the middle of your work.
For a comprehensive review of this program works, please visit my page about Closed School Student Loan Discharges.
However, if you’ve never been involved in this sort of stuff, have no real aptitude for it, and are concerned that you may screw up your application, then I’d highly recommend hiring an outside expert to help you get your information put together and submitted.