If you attended the University of the Rockies and accumulated student loan debt, there are ways that you can manage your debt. You should know about the University of the Rockies loan forgiveness options that will help you handle your student loan debt.
This guide will provide you with everything you need to know about the University of the Rockies, including background, lawsuits, and loan forgiveness options.
University of the Rockies Review
The University of the Rockies was a for-profit school that was based out of Denver, Colorado, and operated under the Bridgepoint Education brand.
- University of the Rockies was founded in 1998 and purchased by Bridgepoint Education in 2007, resulting in the name change to University of the Rockies.
- In 2012, the school needed more space leading to the opening of a new location in downtown Denver, known as the Denver Instructional Site.
- The school offered degree programs in Human Services, Organizational Development and Leadership, Psychology, Education, and Counseling, as well as four graduate certificate level programs.
- At the time of the school’s closing, the tuition and fees were just over $19,000 for the graduate program.
In this section, you were given information regarding the background of the school and some insight on the school’s closing. In the next section, you will find out why the school closed and learn about lawsuits and other scandals involving the school.
University of the Rockies Closed
The University of the Rockies closed its doors in October 2018 when it was announced that the school’s programs would be merging with Ashford University. The school had a bad reputation for misleading prospective students, prompting an investigation by the California Attorney General and Department of Education.
- From 2009 until 2015, the University of the Rockies faced allegations of participating in deceiving, misleading, and unfair acts towards students.
- In 2016, the Consumer Financial Protection Bureau(CFPB) took action against the parent company of the University of the Rockies for violating consumer financial laws.
- The CFPB forced the University of the Rockies to cancel loans and debt for students and graduates that received private loans through Bridgepoint.
- The school’s parent company was ordered to pay an $8 million penalty to the CFPB civil penalty fund for illegal practices.
- Bridgepoint must remove and stop reporting negative credit information pertaining to any outstanding private student loan debt from the school.
In this section, you learned about the scandals and fraudulent acts involving the University of the Rockies and its parent company. The next section will provide more details on the loan forgiveness options you have and how to go take advantage of them.
University of the Rockies Loan Forgiveness Options
The cancellation of student loan debt ordered by the CFPB in 2016, only applied to private student loans obtained through Bridgepoint from 2009 until 2015. If you took out federal student loans to attend the school, you have other University of the Rockies loan forgiveness options available to you.
- Borrower’s Defense to Repayment– If the school’s deceptive practices led you to take out loans to attend the school, you may be eligible for discharge under this option.
- School Closure Discharge– If you did not graduate and you were unable to complete your program due to the school closing you may be eligible for this discharge.
- Income-Driven Repayment Plans– There are a number of repayments plans that are based on your income and provide forgiveness of your loans once all requirements have been completed.
- Public service loan forgiveness– If you are employed full-time for a qualifying employer and make 120 payments under a qualifying repayment plan, you may be eligible for loan forgiveness.
This section provided you with an introduction to some of the student loan forgiveness options that you can take advantage of. To find out your eligibility for the options mentioned in this section, you may need to speak with your loan service provider.
This short guide was designed to educate you about the ways that you can manage your student loan debt from the University of the Rockies. If you have questions about your University of the Rockies loan forgiveness options, contact us today to speak with an expert student loan debt specialist.