Brown Mackie College Loan Forgiveness will happen after a lawsuit settlement of $95.5M. Brown Mackie College who at some point enrolled more than 100,000 students at for-profit trade schools and colleges across the U.S. faced major legal and financial problems related to consumer fraud.
Brown Mackie College Loan Forgiveness will paid the penalty through 2022. The company will also forgive loans to students who left its schools within 45 days of their first term. The loan forgiveness applies to students that left school between from 2006 through 2014.
Along with Brown-Mackie College these are other firms set to process loan forgiveness from the settlement: the Art Institutes, South University, Argosy University.
In this guide you will find the options you have to seek forgiveness on your student loans and possibly get a refund on any payments you have done toward qualifying loans, so don’t wait for too much and take action while these options are still available.
Before we dive into the options let us give u a bit of history and why Brown-Mackie College. Close.
What are for-profit schools?
For-profit colleges are private schools where students who seek a degree pay a high amount of tuition fees. This often means taking out hundreds of thousands of dollars in student loans with high interest.
They differ from traditional public and private schools because typically a college or university does not profit from their programs. The cost of tuition goes towards paying professors and administrators a set rate, and operating the basic programs of the school.
For-profits, on the other hand, have a CEO or board of directors who profits from what the institution makes. Therefore they have more incentive to charge more and draw in more students with fewer qualifications.
Why Brown-Mackie College Closed?
Brown-Mackie College misled students about the cost of its programs and its graduates’ job prospects, said Tom Miller, the attorney general of Iowa, whose office helped lead the states’ investigation. In some cases, Brown-Mackie College charged students for vocational programs that lacked the accreditation needed for them to obtain a license and work in their field
Brown-Mackie College Lawsuit
In 2015, EDMC, Brown-Mackie’s parent company, agreed to forgive more than $100.8 million in student loan debt held by more than 80,000 former students.
In 2016, eleven former Brown Mackie nursing students in Tucson, Arizona sued the school for consumer fraud. The plaintiffs alleged that the poor training they received left them unable to be gainfully employed. The plaintiffs expected to graduate in 2015 until a state nursing board investigation found some of the school’s faculty were unqualified and were using veterinary supplies to teach students how to care for human patients.
The Arizona nursing board barred the Brown Mackie students from taking the practical nurses licensing exam and ordered the school to retrain the students at the company’s expense.
Here are some of the things Brown-Mackie College was found guilty of doing
- The school had used aggressive marketing and recruitment techniques to lure students into the school.
- In order to recruit more students, the school misrepresented multiple things. First, the ability to transfer credits to other universities was over-inflated, leading students to believe they could transfer schools easily and effectively. This was not the case.
- Second, they misrepresented the curriculum and available classes. Students claimed that the school made applicants believe they had many more classes and degree paths than they did. As well as a more developed curriculum than was actually available.
The students won the lawsuit, leading the company to a settlement for student loan forgiveness to many students who had taken out loans under the assumption that the school was much better than it actually was.
It cost the company almost $100 million to pay back these students’ federal and private loans.
Brown-Mackie College How to Get Loan Forgiveness
To get your Brown-Mackie College loans forgiven you have two options.
Brown-Mackie School Closure:
The eligibility requirements for Brown-Mackie College Closed School Discharges are quite simple. Basically – you had to be attending one of the Brown-Mackie Colleges that shut down while it shut down, or have withdrawn from the school within 120 days of the shutdown.
Here are the details in a handy bullet-point list format:
- You must have attended one of the Brown-Mackie Colleges who are shutting down, and you have not already completed the educational program you were enrolled in at Brown-Mackie College.
- You must have outstanding student loan debt from one of the following Federal student loans: Direct Loans, FEEL Loans, or Perkins Loans.
- Your Brown-Mackie College closed while you were still enrolled – OR – your Brown-Mackie College closed within 120 days after you withdrew from the program.
As long as you have the above requirements, you’ll eligible to receive student loan discharge from Brown-Mackie College.
Brown-Mackie College Borrowers Defense To Repayment.
The Obama administration introduced the Borrower Defense to Repayment (BDR) rule as a way to provide debt relief to students defrauded by their school.
The legislation was prompted by the closing of Corinthian Colleges, which left approximately 100,000 students with debt and no degree. Although borrowers have been able to seek loan forgiveness from fraudulent colleges since 1995, BDR makes the application process much easier.
If your school convinced you to sign up for their expensive program because they made promises about your ability to pay back the loan (either by inflating job placement rates, salary statistics, or some other similar data), then you’ll have a pretty good shot at qualifying for a defense against repayment discharge.
Make sure you include as much detail as possible (relevant detail), in your application letter and provide specific details about how you were lied to, what you were promised, told, or not told about, to clearly explain why you believe the school violated some law.
We can help you navigate and understand your loans as well as providing you with professional assistance to file your claim professionally and guarantee the best possible outcome.