A few days ago
Sarah G

My school closed down and I still have to pay my student loan!?

I’ve been trying to have my loan dismissed since the state of Utah closed down my school 6 mos. before graduating, but they said since the school declared bankruptcy, I have to pay the now $45,000 (it was gaining interest since 2002-student loan my foot) back. I cannot transfer credits, and I have to start all over again. Any suggestions on what I can do?

Top 4 Answers
A few days ago
Anonymous

Favorite Answer

Specific Loans are eligible for discharge if the school closed before you were able to finish your program. I’ve attached the Department of Educations discharge loan forms.
0

A few days ago
MaryJean
Yes. You borrowed that money and owe it back. The school did not give you the money a lender did . The lender is not responsible for the school closing.

Why can’t you transfer credits. Even if the school closed your credits should transfer. Most colleges will require you to take some classes of theirs, but will take transfer credits. You should not have to retake all those classes. You should be able to test out of some of the classes if they won’t honor the credits. The business college I went to closed. I went back to school to another college and I had an offical transcript and the new college took it. I had a program book from the old school to show what the requirements were and they let me test out of a couple of classes just to prove that I did know what I said I knew. You need to apeal to the dean of the college you want to go to and explain the problem.

1

A few days ago
xyz
I am not sure what you can do about it have you tried contacting your government offices. I know that some trade schools to do not let you transfer credit since they are not viewed the same as other colleges. That sucks that they can do that to you. And I bet you can not file bankruptcy on your student loans right?
0

A few days ago
Andrea B
Yes in some cases your loan debt can be forgiven based on a closed school.

pls contact the us dept of ed directly at 1-800-433-3243 for assistance. they can point you in teh right direction and advise you of the criteria you would have to meet.

0