Lana Oconnell
Strayer University has been accused of predatory practices, targeting students who are unaware of their rights and options when it comes to federal financial aid. While there is no dedicated Strayer University Loan Discharge Program, former students may still be eligible for student loan forgiveness under certain conditions. For example, if a student believes they were defrauded by the university, they can apply for the federal Borrower Defense to Repayment (BDTR) program, which may result in their federal student loans being discharged. Additionally, Strayer University offers a service to answer questions about federal student loan repayment obligations, including information on various repayment plans and how to apply for deferment or forbearance.
| Characteristics | Values |
|---|---|
| Student loan forgiveness | Strayer University does not have a "Loan Discharge Program" for federal student loans. |
| Private company | Strayer University Loan Forgiveness is a private company unaffiliated with any government agencies. |
| Federal loan forgiveness | Strayer University students may be eligible for federal loan forgiveness through the Federal Student Aid office of the U.S. Department of Education. |
| Student Connections | Strayer University provides a service through Student Connections to assist students with Federal student loan repayment obligations. |
| Borrower Defense to Repayment (BDTR) | Strayer University is not on the approved list of schools for Borrower Defense, but students can still apply for BDTR if they feel they were defrauded. |
| Class-action lawsuit | A class-action lawsuit against Strayer University resulted in a refund for some students. |
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What You'll Learn
Strayer University Loan Forgiveness is a private company
While Strayer University Loan Forgiveness can help people with their federal student loans, it is important to note that there is no specific "Loan Discharge Program" affiliated with Strayer University. In other words, there is no program that specifically forgives federal student loans taken out to pay for Strayer University courses or degree programs.
However, there are still ways to get student loans forgiven, cancelled, or discharged. For example, if the school closes or if the borrower becomes permanently disabled, they may be eligible for loan forgiveness. Additionally, Strayer University offers a service called Student Connections, which is paid for by the university, to answer any questions graduates or former students may have regarding their federal student loan repayment obligations. They provide information about various repayment plans, how to apply for a deferment or forbearance, and help borrowers avoid problems with their loans.
Furthermore, borrowers who feel they were scammed by Strayer University or any other college, trade school, or training program can consider filing for a federal program called Borrower Defense to Repayment (BDTR). This program may help borrowers get their federal student loans discharged and, in some cases, even receive a refund.
Finally, it is worth noting that there have been petitions and complaints regarding the unjust costs of Strayer University in relation to the quality of education provided. Some former students have expressed feelings of being scammed and trapped in debt, with their degrees being worthless in the job market.
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Student loan forgiveness eligibility criteria
Strayer University does not qualify for a specific loan forgiveness program. However, former students may be eligible for federal loan forgiveness programs, such as those offered by the Federal Student Aid office. Strayer University also provides a service to help students with questions regarding their federal student loan repayment obligations.
Now, here is some information on student loan forgiveness eligibility criteria:
Student loan forgiveness programs are typically offered by federal or state governments to help borrowers repay their student loans. To be eligible for loan forgiveness, borrowers must meet certain criteria, which can vary depending on the specific program. Some common eligibility criteria include:
- Repaying loans under an income-driven repayment (IDR) plan: An IDR plan bases monthly student loan payments on income and family size. After a certain number of payments over 20-25 years, or 10 years under the SAVE plan, any remaining balance on the loans will be forgiven.
- Working full-time for a government or nonprofit organization: Those who work in the public sector or for a nonprofit may qualify for the Public Service Loan Forgiveness (PSLF) program. Borrowers must make 120 qualifying payments (equivalent to 10 years' worth of payments) to have the remaining balance of their Direct Loans forgiven.
- Closed school discharge: If a school closes while a borrower is enrolled or soon after they withdraw, they may be eligible for a discharge of their federal student loans if they meet certain additional requirements.
- Teacher Loan Forgiveness (TLF) Program: Teachers who serve in low-income schools or educational agencies for five complete and consecutive academic years may be eligible for forgiveness of up to $17,500.
- Total and permanent disability (TPD) discharge: Borrowers with a disability that severely limits their ability to work, both now and in the future, may qualify for loan forgiveness.
- Borrower defense to repayment: If a borrower can prove that their school misled or lied to them about central issues related to their enrollment or loan terms, they may be eligible for a discharge of their federal Direct Loans.
It is important to note that eligibility for loan forgiveness programs can vary based on individual circumstances and the specific requirements of each program. Borrowers should review the official program guidelines and consult with their loan servicer or a qualified professional to determine their eligibility and understand the application process. Additionally, some private organizations may offer loan consolidation or preparation services, but it is important to be cautious of potential scams and remember that the federal government provides free assistance with student loan issues.
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Student loan repayment counselling
Student loan debt can be a daunting burden, but there are resources available to help you manage and repay your loans effectively. Seeking guidance from a student loan repayment counsellor can be a great first step.
Understanding Student Loan Repayment Counselling
Benefits of Student Loan Repayment Counselling
The primary benefit of student loan repayment counselling is gaining access to knowledgeable professionals who can provide personalized guidance. These counsellors are trained to help borrowers understand their loan details, explore repayment options, and develop strategies to manage their debt effectively. They can also assist in navigating the various loan forgiveness, cancellation, or discharge opportunities that may be available.
What to Expect from Counselling
During counselling, borrowers can expect to receive assistance in understanding their loan details, such as the loan amount, interest rates, repayment terms, and available repayment plans. Counsellors can also help borrowers explore options like deferment or forbearance, which can provide temporary relief from payments if they are facing financial difficulties.
Strayer University Student Loan Forgiveness
Regarding Strayer University specifically, there is conflicting information online. While some sources indicate that there is no official "Loan Discharge Program" affiliated with Strayer University for federal student loan forgiveness, other sources suggest that there may be opportunities for loan forgiveness or debt relief. It is recommended to contact Strayer University directly or seek advice from a reputable student loan counsellor to understand your specific options.
Taking the First Step
If you're feeling overwhelmed by student loan debt, the first step is to reach out for help. Contact a non-profit student loan counselling service or the financial aid department of your educational institution to get started. They can provide you with the tools and information you need to make informed decisions about repaying your student loans.
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Federal Student Aid
Qualifying for Student Loan Forgiveness
There are several ways to qualify for student loan forgiveness. Firstly, if you work full-time for a government or non-profit organization, you may be eligible for Public Service Loan Forgiveness (PSLF). Under PSLF, you must repay your federal student loans under an Income-Driven Repayment (IDR) plan, and after making 120 qualifying payments (i.e., at least 10 years of payments), you may qualify for forgiveness of the remaining balance on your Direct Loans.
Secondly, if you teach full-time for five consecutive academic years in certain low-income schools or educational service agencies, you may be eligible for up to $17,500 in loan forgiveness through the Teacher Loan Forgiveness (TLF) Program.
Thirdly, if your school closes while you're enrolled or soon after you withdraw, you may qualify for a closed school discharge, provided you meet certain requirements.
Additionally, if your school misled or lied to you about something significant that influenced your decision to enroll or take out loans, you may be eligible for borrower defense to repayment, which discharges your obligation to repay federal Direct Loans.
Lastly, AmeriCorps service can also lead to student loan forgiveness through the Segal AmeriCorps Education Award, which can be used to repay qualified student loans.
Avoiding Student Loan Forgiveness Scams
It's important to be cautious of scams when seeking student loan forgiveness. Federal Student Aid provides guidance on recognizing and avoiding scams. Firstly, be wary of companies that request upfront or monthly fees while promising immediate and total loan cancellation. Most government forgiveness programs require years of qualifying payments and/or specific employment before loan forgiveness is granted.
Secondly, no legitimate organization will ask for your StudentAid.gov account username or password. The U.S. Department of Education and its partners will never request this information.
Thirdly, be cautious of aggressive advertising language and claims such as "Act immediately to qualify for student loan forgiveness before the program is discontinued" or "Your student loans may qualify for a complete discharge. Enrollments are first come, first served." These types of statements are often indicators of a potential scam.
Additionally, always verify the legitimacy of any company or organization offering assistance with your student loans. You can do this by checking if their website and email addresses end in ".gov," indicating an affiliation with the U.S. Department of Education. Remember, you never have to pay for help with your student loans or to navigate loan forgiveness programs. Your loan servicer can provide free assistance and help you find the right program.
If you suspect you're involved in a scam, take immediate action by contacting your federal loan servicer, your bank, and relevant government agencies to stop any unauthorized access or payments.
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Student loan forgiveness for scam schools
However, it is important to note that Strayer University itself offers a service, Student Connections, to assist graduates and former students with questions regarding their federal student loan repayment obligations. This service provides information about various repayment plans and can help students avoid problems with their loans.
More generally, there are legitimate programs and resources available for student loan forgiveness, such as the Teacher Loan Forgiveness Program. To access these, students should work directly with their loan servicer, who can help them explore the options available to them free of charge. It is important to be cautious of potential scams, which may involve fees for services that are otherwise free or urgent language to pressure students into signing up. Scammers may also impersonate government agencies or use official-looking names and logos. To avoid scams, students should only use official government websites or contact their loan servicer directly to verify the legitimacy of any offers.
If you believe you have been scammed, it is important to act quickly. You can contact your federal loan servicer to revoke any unauthorised agreements, your bank or credit card company to stop payments to the scammer, and file complaints with relevant authorities such as the Federal Trade Commission or the Consumer Financial Protection Bureau.
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Frequently asked questions
Strayer University is not on the approved list of schools for Borrower Defense. However, there are ways to get your student loans forgiven, such as through the Federal Student Aid office of the U.S. Department of Education.
The Borrower Defense to Repayment (BDTR) is a federal program that can help students get their federal student loans discharged if they feel they were scammed by their college, trade school, or training program.
There is no "Loan Discharge Program" that forgives federal student loans affiliated with Strayer University. However, there are ways to get your student loans forgiven, such as if the school closes or if you become permanently disabled.
Strayer University Loan Forgiveness is a private company that assists people in obtaining federal government student loan forgiveness or consolidation programs by pre-qualifying, preparing, and submitting the required documentation on their behalf.
Strayer University offers a service, paid for by the university, to answer any questions students may have regarding their Federal student loan repayment. They provide information about various repayment plans, how to apply for a deferment or forbearance, and help students avoid problems with their loans.
