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Closed School Student Loan Discharge

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Corinthian Students


There can be nothing worse for a student than to have the whole school close down from underneath you, leaving you lost, dazed and confused. Such is the most recent case of the Corinthian Colleges, Inc. owned "for profit" schools. Everest, Wyotec, and Heald College System. In California alone, it is said that over 16,000 students were sent home.
What a catastrophe!


Let's talk about solutions:
You can apply to have your Federal Student Loans taken out while you were attending the closed school administratively discharged. What does that mean? It means that the program offered by the U.S. Department of Education, your Direct Student Loan Lender, forgives the loan. The Dept. of Ed. lent you the funds to attend the close school, and their policy is such that if the school closes, it has the option to forgive the loan. However it is not automatic, and you have to qualify.

If you attended school and obtained Federal Student Loans, you may be eligible for a 100% discharge of those Federal Student Loans under certain circumstances, such as:
Your school closed while you're enrolled, and you could not complete your program or obtain your degreed or certificate because of the closure.
If you were on an approved leave of absence, you are considered to have been enrolled at the school.
Your school closes within 120 days (4 months) after you withdraw.

Every student's case is different and every case has to be evaluated. The Department of Education is not, at this point, going to offer a blanket discharge.

If you have been paying on your student loan, excellent. You are in a great position to apply for this type of discharge. Once your application has been received, any collection actions will stop, presumably, and you can stop making payments.

If you have not been paying on the student loan, you can still apply. Default is not a prohibiting factor.

If you need assistance or just general information, feel free to call the San Diego Student Loan Lawyer. 619 295-3322

I have attached the Closed School Discharge Application for you to download. Send this application to your current servicer. I would suggest mailing it Certified Mail, Return Receipt Requested.

Dowload HERE

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D.J. Rausa

With over 21 years of experience as a consumer bankruptcy attorney, D.J. Rausa stays on the cutting edge of Bankruptcy and Student Loan Law which enables him to provide vital information to his clients.

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I had no idea where to start with my bankruptcy and process. After my first meeting with DJ I felt confident that things were going to go well. He helped guide me through the entire process and time. 

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Read what D.J. recently told The Wall Street Journal regarding the probable rise in Student Loan Debt Resolution through Bankruptcy.

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To whom it may concern,
Mr. Rausa is extremely knowledgeable with the complexities of Federal Student Loans.
I went from a thriving career to full medical disability, ending with an SSDI placement. Unfortunately, I lost everything and became unable to continue making the student loan payments, so it was in deferment for over five years. When the SSDI settled I tried to negotiate an affordable payment plan with the loan holders but they refused my efforts, instead demanding over twice the amount I could afford.
I contacted Mr. Rausa and found him to be courteous, responsive and quick to assess my situation. He was sure he could help and took time to answer all questions, which relieved much anxiety. Within months he successfully resolved the debt! With much confidence, I highly recommend Mr. Rausa.
Please contact me if you have any additional questions.
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