It was announced earlier this month, an additional $55 million in student loan debt impacting 3 schools have been cancelled. Marinello School of Beauty is one of the 3 additional schools that has received full student loan debt cancellation under the Biden administration. If you have student loan debt from this school, there’s a chance you may qualify for Marinello School of Beauty Loan Forgiveness.
This guide will cover how this announcement affects you, your options for loan forgiveness, and how to get rid of your student loan debt.
About Marinello School of Beauty
Marinello School of Beauty, part of the ownership of B&H Education, Inc, was founded in 1905 in La Crosse, Wisconsin. The school’s founder Ruth Maurer established the school after developing a face cream distributed worldwide and named the school after Modern Cosmetology founder, Giovanni Marinello.
Details
- The school had locations in California, Connecticut, Kansas, Massachusetts, Nevada, and Utah and was headquartered in New York until relocating to Los Angeles in 1963.
- This beauty school was accredited by the National Accrediting Commission of Career Arts & Sciences offering cosmetology training in skincare, massage therapy, esthetics, manicuring, and barbering.
- Marinello School of Beauty awarded several types of scholarships ranging from $1,000 to $10,000 to help cover the cost of attendance.
- The cost for attending this school varied depending on the location that you attended, however on average it was between $11,514 to $22,000.
Summary
In this section, you learned about Marinello School of Beauty, where they were located, the programs that they offered, and the average cost of attendance. The next section will discuss scandals and lawsuits that the school faced, as well as when and why the school closed.
Marinello School of Beauty in the News
Marinello School of Beauty’s trouble began in 2015 when a fraud investigation was initiated against the school for its deceptive and fraudulent practices. This led to the Department of Education taking action by barring 23 locations of the school from receiving federal financial aid.
Details
- Allegedly Marinello School of Beauty was issuing fake high school diplomas to receive Title IV funding, a scheme that began unraveling in 2015.
- Allegations against the school state that students were not receiving the entire amount of Title IV funding they were eligible for.
- The California Bureau of Private Postsecondary Education ordered that the school was no longer permitted to enroll students in 2016.
- The school received letters from the Department of Education in February 2016 revoking their certification for financial aid in 5 states, this prompted the closure of all 56 locations.
Summary
In this section you received an overview of the allegations made against Marinello School of Beauty, and what prompted the closure of the school. In the next section, you will learn about the different Marinello School of Beauty loan forgiveness options available to defrauded students.
Marinello School of Beauty Loan Forgiveness
The recent announcement made by the Biden administration to cancel Marinello School of Beauty student loan debt affects approximately 200 borrowers that attended this school. However, that is not the only Marinello School of Beauty loan forgiveness option that is available to borrowers that attended this school.
Details
- Borrower’s Defense Against Repayment– This option allows borrowers that were affected by the school’s fraudulent and deceptive practices to apply for student loan forgiveness.
- Closed School Loan Discharge– You must have been enrolled when the school closed in February 2016 or withdrew no more than 120 days prior to closing to be eligible.
- Income-Driven Repayment Plans– These are affordable repayment plans based on your income that will forgive your loans upon completion of the terms and conditions.
Summary
This section briefly discussed the different options that are available for eliminating Marinello School of Beauty student loan debt and what you need to do. The final section will recap what you have learned from this guide and who you can turn to for help.
Takeaway
This guide was designed to inform you of the Marinello School of Beauty loan forgiveness options available and the scandals the school was involved in. If you have questions about the recent announcement and how it affects you or your eligibility for these options, help is available.
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