Are you a former Four-D College student who is now struggling to repay your loans? You may be eligible for a loan forgiveness or repayment option.
The aftermath of a school closure can leave many students feeling confused and uncertain about their options. This is true for Four-D College students as well. The College closed its Four-D campus in 2015, leaving many students with hefty loans to repay.
Thankfully, there are loan forgiveness and repayment options available to Four-D College students. In this article, we will discuss the options available for you.
About Four-D College
Four-D College was a for-profit school located in the heart of California. It was founded in 1992 by Linda L. Smith and was Originally named Four-D success academy. The school was a vocational school that focused on preparing students for entry-level employment, especially in the medical industry.
The College offered a variety of programs, most of which led to in-demand careers. These programs included vocational nursing, dental assistant, massage therapy, medical assistant, billing and coding, and pharmacy technician.
Four-D College Loan Forgiveness and Repayment Options
The United States Department of Education offers a few loan forgiveness and repayment options for students who have taken out loans to attend a now-defunct school.
School Closure Discharge
The first option is the School Closure Discharge. This option is available to students enrolled in Four-D College when it closed or withdrew within 120 days of the school closure. To be eligible for this discharge, you must have been unable to complete your program because of the school closure.
Borrower’s defense to repayment
The second option is the Borrower’s defense to repayment. This option is available to students who can prove that the College defrauded them. This might include if the College promises a job that never materializes or misleads students about the program’s cost.
Income-driven repayment plans.
If you cannot take advantage of the closed school loan discharge or the Borrower’s defense to repayment, you may be eligible for an income-driven repayment plan. This plan will cap your monthly payment at a percentage of your income. Depending on the plan, the remaining balance of your loan may be forgiven after 20 or 25 years of your repayment.
There are four income-driven repayment plans:
- Pay As You Earn Repayment Plan(PAYE),
- Revised Pay As You Earn Repayment Plan(REPAYE),
- Income-Based Repayment Plan(IBR), and
- Income-Contingent Repayment Plan(ICR).
To be eligible for an income-driven repayment plan, you must have federal student loans.
Total and permanent disability discharge.
If you cannot work because of a disability, you may be eligible for a TPD Discharge (Total and Permanent Disability Discharge) This discharge will cancel your federal student loans and not have to be repaid.
To apply for this discharge, you must provide documentation of your disability from a qualified doctor.
Public Service Loan Forgiveness.
If you work in a public service job, you may be eligible for Public Service Loan Forgiveness. This program will forgive the remaining balance of your student loans after ten years of employment.
To be eligible for this program, you must have federal student loans and make 120 qualifying payments.
For more information on these loan forgiveness and repayment options, visit the United States Department of Education website or speak to a Student load councilor.
Student Loan Consolidation
Another option for those affected by the closure of Four-D College is student loan consolidation. Student loan consolidation can simplify your loans by combining all of your federal loans into one monthly payment. The result is a higher interest rate and a longer repayment term.
To be eligible for student loan consolidation, you must have at least one Direct Loan or Stafford Loan.
Four-D College Closure
Four-D College permanently closed its doors on July 12, 2015. The closure leaves students and employees scrambling to find new plans.
The board of directors decided to close the College in February, citing declining enrollment and financial instability as the main reasons. Approximately 250 students enroll at Four-D College at its closure.
Students and employees were notified of the closure in early April and had the option to transfer to other schools or receive a refund.
Four-D College Transcript
If you were a student at Four-D College when it closed, you might be wondering how to obtain your transcript.
The good news is that you can still obtain your transcript even though the school is closed. You can request a transcript in two ways: by mail or online.
To request a transcript by mail, send a written request to:
P.O. Box 1288
Brawley, CA 92227
To request a transcript online, visit the National Student Clearinghouse website. You will need to create an account and provide your student I.D. number and date of birth.
The cost for a transcript is $10.00. Transcripts will be mailed within ten business days of the request.
If you cannot obtain your transcript in one of these ways, you may contact the registrar at Four-D College at (760) 344-9551.
How to contact Four-D College
If you need to contact Four-D College, you can call the main office at (760) 344-9551 or email [email protected]
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, don’t hesitate to contact us.
Our advisors are available to answer any of your questions and help you find the best solution for your unique situation. You can also check out our website for more information on student loans and repayment options.
We want to make sure that you have all the information you need to make the best decision for your future.