Table of Contents
- What is DeVry University Student Loan Forgiveness?
- How to Apply for DeVry University Student Loan Forgiveness
- DeVry University: Lawsuits, Investigations, and Settlements
- Why does DeVry University agree to a $100 Million Settlement?
- DeVry University Student Loan Forgiveness and Discharge
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What is DeVry University Student Loan Forgiveness?
For many students, the thought of getting a loan is daunting. Whether you’re a first-time student or a parent with a student who has struggled in the past, it can be confusing to know where to start. What types of loans are available? What’s the difference between a loan and a scholarship? And how do you apply for a loan when you’re already in school and can’t guarantee your application will be approved?
You’ll be glad to know that there are several ways to get student loans. Maybe you didn’t even consider looking into it because you thought you wouldn’t qualify for a loan. But the reality is that if you work hard, you can get a loan.
Even some schools will work with students who have debt by allowing them to pay back their loans as a part of their education expenses. You can also seek out private loans to help you through school. If you find yourself needing to take out a loan, however, you’ll be glad to know that there are several ways to reduce the cost of student loans.
How to Apply for DeVry University Student Loan Forgiveness
To apply for total or partial student loan forgiveness, you must first file a Free Application for Federal Student Aid (FAFSA). This is a one-page form that you can download from the Internet. It will soon become clear why this is important.
When you complete the FAFSA, you will be asked to list all of your schools. If you attended more than one school, you will need to submit a separate FAFSA for each school. This is where things get complicated.
Each school will have its own admissions office. You will need to send your FAFSA to the school of your choice. After reviewing your form, the school will either send you a yes or no reply. If you are accepted by the school, you have successfully completed the FAFSA.
There are several other options for schools to respond to the FAFSA. Most schools will send you an email stating whether they have received your application. Schools can also report their decision to accept you to a central location. If you are rejected, you will receive an official letter from the school about why you were rejected.
DeVry University has agreed that they misled the students with fake ads indicating higher employment rates, high-paying jobs, and income levels after graduation. Federal Trade Commission’s settlement to DeVry University and its parent company was $100 million. A $49.4 million settlement will provide refunds for eligible students of DeVry University student loan forgiveness completely and partially. According to the FTC, the advertisements on TV and radio misled students about they would find jobs quickly in their study field.
The Federal Trade Commission’s settlement makes sure it will prevent all possible future misleadings of DeVry University lawsuit. In our article, you will learn about DeVry University student loan forgiveness and closed school student loan discharges, as well as the application process and your eligibility for the refunds.
Let’s now learn about your options to get a student loan forgiveness for your student loan debts.
DeVry University: Lawsuits, Investigations, and Settlements
DeVry University was founded in 1931 in the United States and is one of the for-profit universities. The official name has become DeVry University in 2002. After student loans have become a huge issue among borrowers, DeVry University has been involved in many lawsuits, investigations, and settlements. On July 10th, 2017, the FTC announced that DeVry University would provide former students with refunds. The primary cause of lawsuits and settlements is shown as DeVry University was misleading the students about the employment rates, finding high-salary jobs in their study field after graduation. Many students claimed a lawsuit against DeVry University, regarding that it defrauded the students to enroll at the university.
The investigations and settlements against DeVry University and its parent company Adtalem Global Education, Inc are based on fake advertisements. These counterfeit ads on TV and radios forced students to enroll at the university. As a result, they will get a higher income and the desired job in their field afterward.
Investigations show that DeVry University counted the graduates as being employed in their study field, who work in an unrelated field. The issue with the incomes was similar, as the income rates did not include the experience and age factors in the respective field. After the FTC’s settlement, DeVry University stopped misrepresenting itself to the students.
The total amount of settlement was $100 million for DeVry University and its parent company Adtalem Global Education, Inc. Let’s now focus on the reasons and the major causes the DeVry University agreed to get the settlement from the FTC.
Why does DeVry University agree to a $100 Million Settlement?
The complaints addressed to the Federal Trade Commission show that ads DeVry running on TV, radio, and online were false. All of these facts mislead the respective students about job replacement and income rates. False advertising is an illegal activity. This means DeVry University was not able to introduce any evidence to prove the opposite of these claims.
According to the Education Department’s investigations, DeVry was not able to provide any proof concerning the issues of students finding jobs, and getting higher incomes a year after graduation.
The great news is that if you are a former DeVry University student with a vast amount of student loans, you may be eligible to eliminate your debts partially or entirely. In the next section of our article, you will learn about your eligibility for the DeVry University student loan forgiveness. Alternatively, you may claim a Borrower Defense to Repayment Discharge to remove your student loan debt wholly.
DeVry University Student Loan Forgiveness and Discharge
Are you a former DeVry University student looking for student loan forgiveness? Fortunately, you have a chance to get a complete or a partial refund for your student loans. After the settlement, DeVry University is promising to forgive your student loans. There are two programs available for DeVry University student loan forgiveness:
- The Settlement of Federal Trade Commission
- Borrower Defense against Repayment Discharge
After the FTC’s settlement, DeVry University offers approximately a $300 refund for each student who is eligible for this student loan forgiveness. Although $300 loan forgiveness is covering your student loans partially, you have another opportunity to get rid of your student loans entirely. You may claim Borrower Defense Claim Against Repayment Discharge. There are specific requirements to be eligible for this student loan forgiveness, and we will address them later in our article. We will investigate the differences between these two programs and hopefully will help you to get DeVry University student loan forgiveness.