May 07, 2015 by I Am Not A Loan
When you’re told that your college will be shutting down, there can be a lot of uncertainty about what comes next. In light of recent closures of certain for-profit colleges, we wanted to share some helpful advice to help you navigate the situation.
This information and answers to other common questions about student loans are also available through Ask CFPB.
If you have federal student loans
If you have federal student loans and are currently enrolled or recently left a college or university that has shut its doors, you may be able to discharge (cancel) your loans by applying for a closed school discharge, which requires you to fill out a form.
This post was originally published on the Consumer Financial Protection Bureau's blog. Read more here.