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Is the "Art Institutes Student Loan Forgivness" A SCAM?

Started by Jrdwhitney, March 10, 2016, 11:45:32 pm

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Jrdwhitney

March 10, 2016, 11:45:32 pm Last Edit: March 11, 2016, 11:33:02 pm by TheCollegeInvestor
Is the "Art Institutes Student Loan Forgivness" A SCAM?

Is there a way to get money that they have collected back if it is a scam?


About the Art Institute Student Loan Forgivness
If you've heard about the recent lawsuit, this is the place to get your loans forgiven.

+1-844-766-3462

A recent lawsuit resulted in The Art Institutes being required to forgive 102.9 Million in Student Loans

If you were unable to qualify for loan forgiveness before, you may qualify now under Obama's new programs with less strict requirements.

For-profit colleges are focused on just that, profit. You probably feel your education wasn't worth the cost. We can help.

The Art Institutes, which operate under the conglomerate EMC (Education Management Corporation), are now offering student loan forgiveness and debt settlement options for nearly $103 million private and federal student loans. This amount is spread throughout the Art Institute campuses, ranging from 1 to 13 Million.
This multistate settlement is due to numerous allegations of predatory lending, or the usage of high-pressure tactics to increase enrollment statistics. The schools are also accused by students and the government of offering recruitment incentives to employees for students referred to any of the respective schools.

TheCollegeInvestor

It could be a scam or could be something you simply don't need to pay for. It really sounds like they are baiting you with Art Institute, and will likely make you pay do simply change your repayment plan.

Here's a full article that breaks down what you need to know about scams: https://thecollegeinvestor.com/16429/is-your-student-loan-repayment-company-a-scam/

For the Art Institute and schools being sued, there is a special discharge program called Borrower Defense To Repayment that may apply. There's more information here: https://thecollegeinvestor.com/the-definitive-guide-to-student-loan-debt-2016/#tab-con-8