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Author Topic: School closing - questions  (Read 1708 times)

enjoimark

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School closing - questions
« on: May 22, 2017, 09:41:42 AM »
The school I went to is closing in my city (Vista College - Amarillo, TX). They have other locations, and will be keeping those open. I am wondering if I would be eligible for forgiveness based on the school closing? I would assume not since the actual school as a whole isn't closing... but I'm just not sure.

TheCollegeInvestor

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Re: School closing - questions
« Reply #1 on: May 23, 2017, 09:26:59 PM »
You are potentially eligible for a discharge if your school closes while you're enrolled, and you do not complete your program because of the closure.

However, you are not eligible for discharge of your loans if your school closes and any of the following is true:
- You withdraw more than 120 days before the school closes.
- You are completing a comparable educational program at another school through a teach-out agreement with the school, by transferring academic credits or hours earned at the closed school to another school, or by any other comparable means.
-You have completed all the coursework for the program, even if you have not received a diploma or certificate.

So basically, since you can likely transfer your credits to the other school locations, you likely can't get a discharge.