Are you a Bennett College student struggling to repay your student loans? You may be eligible for loan forgiveness or repayment options.
As the cost of college continues to rise, more and more students are taking out student loans to pay for school. The average student loan debt in the United States is now over $37,000.
When you graduate from college, you are responsible for repaying your student loans. This can be a difficult task, especially if you’re not making a lot of money.
HopefulThe Department of Education offers a variety of loan forgiveness and repayment options for federal student loans. These programs are designed to help borrowers struggling to repay their loans.
About Bennett college:
Bennett College is a private, historically black women’s college located in Greensboro, North Carolina. The college was founded in 1873 and is affiliated with the United Methodist Church. Bennett College is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
The college offers bachelor’s degrees in business administration, communication, education, and liberal arts. The college has an enrollment of about 700 students.
Bennett college Loan Forgiveness and Repayment Programs
There are several loan forgiveness and repayment programs available for Bennett College students.
1. Public Service Loan Forgiveness Program
The Public Service Loan Forgiveness Program (PSLF) is a federal program that forgives the student loans of borrowers who work in public service. To qualify for PSLF, you must make 120 qualifying payments on your student loans while working full-time for a qualifying public service organization.
However, thanks to a recent change in the program, some requirements have been eased out. A waiver from the Department of Education allows borrowers to qualify for forgiveness based on their qualifying public service employment regardless of their loan type or repayment plan.
This new waiver is set to expire on October 31, 2022.
To know more about this, please click here.
2. Income-Driven Repayment Plans
The income-driven repayment plans are designed to make your student loan payments more affordable. These plans calculate your monthly payment based on your income and family size.
There are four income-driven repayment plans available for federal student loans:
- Income-Based Repayment Plan (IBR)
- Income-Contingent Repayment Plan (ICR)
- Pay As You Earn Plan (PAYE)
- Revised Pay As You Earn Plan (REPAYE).
These plans are designed to make your student loan payments more affordable. Each plan has different eligibility requirements, and the amount of your monthly payment will vary depending on your income and family size.
3. Student Loan Consolidation
Student loan consolidation is combining multiple student loans into one loan. This can be helpful if you’re struggling to make payments on multiple loans. Consolidating your loans can also lower your monthly payment by extending the repayment term.
If you have multiple federal student loans, you may be able to consolidate them into a single loan. This can make your monthly payments more affordable and simplify your loan repayment process.
4. Borrower Defense to Repayment
The Borrower Defense to Repayment program is a federal program that forgives the student loans of borrowers who have been defrauded by their schools. If you believe that Bennett College defrauded you, you may be eligible for loan forgiveness.
To apply for loan forgiveness, you must submit a complaint to the Department of Education. The Department of Education will investigate your complaint and determine if you are eligible for loan forgiveness.
If your complaint is approved, your loans will be forgiven.
5. TPD discharge
The TPD discharge is a federal program that forgives the student loans of borrowers who cannot work due to a disability. To qualify for a TPD discharge, you must provide documentation that shows your disability prevents you from working.
This can come in a doctor’s note, a Social Security disability determination, or veterans Affairs disability rating.
If you qualify for a TPD discharge, your student loans will be forgiven.
Bennett college Tuition and Fees
The tuition and fees for Bennett College are $8,000 per year(12-18 credit hours).
The comprehensive fees for Bennett College are $1,200 per year. This includes health/wellness/fitness, student activities, Cengage electronic books, laptop computer, communication access, student publications/productions, UNCF Pre-Alumnae fee, HEAT bus pass.
The cost of room and board at Bennett College is $9,960 per year.
All data is from the 2021-2022 academic year.
To learn more about the cost of attendance at Bennett College, visit the college website.
Bennett college Acceptance Rate
The acceptance rate for Bennett College is 72.9%.
This means that out of every 100 applicants, 72.9 are accepted.
Bennett college Graduation Rate
The graduation rate for Bennett College is 36.5%.
Bennett college Reviews
We have aggregated Bennett college reviews from around the web.
On Cappex, Bennett College has a 4 out of 5-star rating.
On Niche, Bennett College has an A- rating.
On College Factual, Bennett College has a 3.7 out of 5-star rating.
The reviews are mainly positive, with students praising the faculty, staff, and campus. However, some students complain about the high cost of attendance and the lack of scholarships.
If you’re considering attending Bennett College, we recommend reading these reviews to better understand what the college is like.
Bennett college Lawsuit
In 2018, the SACS accreditation agency revoked the accreditation of Bennett College.
The reason for the revocation was that Bennett College failed to meet several accreditation standards, including financial stability and governance. The college had been on probation for two years due to its considerable financial challenges.
To tackle its financial difficulties, Bennett College launches a $5 million fundraising campaign. Although the college was able to raise $8.5 million, it was not enough to keep its accreditation.
In 2019, Bennett College filed a lawsuit against SACS. The lawsuit alleges that the accreditation agency unfairly revoked the college’s accreditation.
To learn more about the lawsuit, you can read this article.
Need Help with student loans?
If you’re having difficulty keeping up with your student loan payments, or want to learn more about your alternatives, do not hesitate to contact us. You can call or fill out a form and speak to one of our student loan advisors.
We have a number of resources that can help you make the best decision for your financial future.