The University of Phoenix, one among the most important for-profit colleges within the U.S., faced charges from the Federal Trade Commission (FTC), alleging that the varsity harmed students through deceptive advertising, including promises of employment opportunities that the FTC claims were false or overblown. In response, the varsity agreed to a $191 million settlement to bring an end to those claims.
Some of the cash — $50 million — may be a cash settlement, but the remaining $141 million is earmarked to cancel student debt for University of Phoenix students who were harmed by the deceptive advertising, consistent with the FTC.
If you took out federal or private student loans for University of Phoenix classes, you’ll be eligible to hitch a category action lawsuit investigation and pursue compensation.
Under the terms of the settlement agreement, the University and its parent company, Apollo Education Group, are required to notify eligible student loan borrowers by email and letter within 15 business days that they’re covered by the agreement. Their eligible student loan debt will then be cancelled within 45 days thereafter, and credit reporting must be updated within 55 days to delete all references to the debt. the scholar loan forgiveness is meant to be automatic, meaning that eligible student loan borrowers shouldn’t be required to affirmatively apply or request relief.
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 had misconduct about taking federal aid student loans, misrepresented 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 prove 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.
After the University of Phoenix is accused of illicit activities against the federal government and the students, the victims of the school have the chance of benefiting from their student loans.
What are the main requirements to get the University of Phoenix student loan discharge through Borrower Defense to Repayment? The primary requirement to qualify for Borrower Defense to Repayment is to prove that UOP misled and defrauded you.
You should prove that the university misrepresented its academic program, did take fraudulent actions, deceived you to get the federal aid student loan. Apart from your application, you need to support your claim with additional materials to make it easy to get the student loan forgiveness.
Fortunately, there is a big possibility to qualify for the University of Phoenix student loan discharge in 2020 & 2021. Till now, Borrower Defense was difficult to achieve because the Education Department was delaying the process or approached it with hesitance.
However, Joe Biden plans to return the Borrower Defense to its glorious days and now, there is a hope that more people will qualify. If you find out that you are eligible for the Borrower Defense to Repayment Discharge, you may apply to the program and get forgiveness for your student loans. If the committee approves your application, you may even get a refund for the amount you paid previously for your student loans.
Let’s now learn the application process and steps you need to take in 2021, to get forgiveness for your University of Phoenix student loans.