If you’re an American National University student who took out loans to fund your education, you might be wondering about your repayment and forgiveness alternatives.
In this post, we’ll look at the many alternatives available to you so that you can make the best decision for your needs.
Keep reading for information on student loan repayment and forgiveness options accessible, whether you’re just starting school or are almost ready to graduate.
What is American National University
American National University is a for-profit university that specializes in providing associate, bachelor’s, and master’s degrees. It has campuses in Virginia, West Virginia, North Carolina, South Carolina, Ohio, and Kentucky.
American National University acceptance rate
The acceptance rates at American National University are extremely competitive. The university conducts an undergraduate admissions process that is open to both domestic and international students.
Students of the university are required to submit a minimum high school achievement of a 3.0 GPA on a 4.0 scale, submit SAT scores of 1100 or higher, submit ACT scores of 24 or higher, submit SAT Subject Tests in English, math, science, or social studies, and submit two letters of recommendation that are not related to family members or friends.
American National University tuition
The cost of tuition at American National University varies depending on the degree program and level of study. For example, undergraduate tuition for a business degree program is $235 per credit hour, while graduate tuition for a business degree program is $295 per credit hour. To get an accurate estimate of the cost of attendance, it’s best to consult the school’s website or financial aid department.
How to contact American National University
Address: 1813 East Main Street,Salem, VA 24153
American National University contact number: 833-388-1100
American National University Portal to login: https://portal.an.edu/cmcportal/
American National University Lawsuit
In 2014, American National University was sued for false advertising of its supposed accreditation. It has been accused of misrepresenting the degree and certification it claims to offer.
The proponents of the lawsuit against the University alleging that the institution did not offer a law degree, instead, they offered a certificate in legal office skills.
American National Univ. found guilty of violating Ky Consumer Protection Act
In May of 2017, American National University was found guilty of violating the Ky Consumer Protection Act. This means that the school was not truthful in its advertising, which resulted in students not receiving the education they were promised.
The lawsuit against the for-profit university began in 2014 and was finally resolved in 2017. It was a long and arduous process, but the students who were affected by the school’s false advertising finally received justice.
American National University loan forgiveness and repayment options
If you are feeling overwhelmed by your student loan debt, don’t worry – there are options available to you. You may be eligible for loan forgiveness or repayment options that can make your debt more manageable.
There are a few things you can do to seek student loan forgiveness, such as look into Public Service Loan Forgiveness (PSLF) or Borrowers defense to repayment. Alternatively, consider student loan consolidation or income-based repayment options.
Public Service Loan Forgiveness (PSLF)
Public Service Loan Forgiveness (PSLF) is a government program that was created to encourage people to enter into public service careers. The program forgives the remaining balance on your Direct Loans after you have made 120 qualifying payments while working full-time for a qualifying public service organization.
Borrowers defense to repayment
Borrowers defense to repayment is a provision in federal law that allows borrowers who have been defrauded or misled by a college to have their student loans forgiven. The borrower needs to be eligible, the school needs to have committed fraud, and the borrower needs to not be “at fault” for what happened.
Income-based repayment plans
Income-based repayment plans are a type of federal student loan repayment plan that bases your monthly payment amount on your income and family size. There are four different income-based repayment plans:
• Income-Based Repayment Plan (IBR)
• Income-Contingent Repayment Plan (ICR)
• Pay As You Earn Repayment Plan (PAYE)
• Revised Pay As You Earn Repayment Plan (REPAYE)
Student loan consolidation
Student loan consolidation is the process of combining one or more student loans into a new loan. The new loan has a new interest rate and repayment term. You may be able to lower your monthly payment or get a lower interest rate. You can consolidate a federal student loan and a private student loan together.
Whatever route you decide to take, make sure to do your research and talk to a financial advisor to figure out which option is best for your unique situation. And don’t forget to keep up with your student loan payments, even if it means making some sacrifices elsewhere in your budget. Falling behind on your payments can have serious consequences, including wage garnishment.
Need help with student loans?
If you’re having trouble keeping up with your student loan payments, or you have any questions about your alternatives, don’t hesitate to get in touch with us.
