University of Phoenix Student Loan Forgiveness Beginning in 2017, up to $1 billion in student loan debt is eligible for forgiveness through the United States government . The new forgiveness plan called ‘Public Student Loan Forgiveness’ (PSLF) applies to certain borrowers that are making regular government student loan payments and are enrolled in an income based repayment system.
Are you eligible for this new plan? Here’s a better check out the various students which will find some debt relief through the PSLF plan within the near future.
In order to require advantage of the new loan forgiveness plan, borrowers must fall under one among three categories including:
Those that currently work for the govt or for the US military
Those that work for a non-profit business and are in specific roles within that business
Those that currently work for a 501(C)3 non-profit organization.
While loans aren’t forgiven directly , anyone that does meet the above qualifications can gain student loan forgiveness after a period of creating on-time payments for ten years.
Borrowers that were delinquent during the past ten years cannot apply for this program, and therefore the above requirements must be met intimately (in order to use as an employee of a non-profit business, for instance , you want to meet one among the position specifications detailed by the US government).
Student loan class action lawsuit against the University of Phoenix
The University of Phoenix is accused of many deceitful and illicit actions against the students. The class action lawsuit is the end for UOP. Many students claimed that education quality was not as good as the university promised. As a for-profit school, the University of Phoenix is being sued for violation of the contract and the contractual relations, taking the advantages of many low-class citizens, false advertisements, terrible actions, such as providing false information to the government about student aid statistics.
After the class action lawsuit, the university agreed to discharge the student loans for the borrowers who qualify for the University of Phoenix student loan forgiveness.
University of Phoenix Student Loan Forgiveness through Borrower Defense to Repayment Program
Many students of the University of Phoenix has a problem paying their student loans. If you are one of the University of Phoenix students who are suffering to pay the financial aid student loans back, you may be eligible to get a discharge through Borrower Defense to Repayment.
Borrower Defense to Repayment allows you to discharge your student loans, if the University of Phoenix defrauded you about taking federal aid student loans, misrepresented you the poor study program and false employment rates, violated the federal laws with any deceitful action. To apply Borrower Defense to Repayment, you need to prove with facts that the University of Phoenix misled or defrauded you. In your Borrower Defense claim, you need to accuse the school of false advertisements, fake income rates after graduation to get the University of Phoenix student loan forgiveness. After your application is accepted, your University of Phoenix student loans will be forgiven. You may qualify for a refund as well. In the next section of our article, you will learn about the qualifications and the requirements of getting a benefit, refund or discharge for your University of Phoenix student loans.