How to Qualify for the Everest College Lawsuit, Student Loan Forgiveness or Discharge Benefits
I have good news for Everest College students: there’s a very good chance that you can qualify for a student loan discharge, and maybe even for a refund for any payments you’ve already made toward your outstanding federal student debt related to attending Everest.
You can access these great debt forgiveness benefits via one of two Federal student loan forgiveness programs, using either the Borrower’s Defense To Repayment Program, which offers forgiveness and refund benefits to students who were defrauded by a school, or the Closed School Loan Discharge Program, which lets students eliminate loans that were taken out for schools that shut down before they could graduate.
In this post, I’ll explain how to find out if you qualify for one or either of these programs, then I’ll walk you through applying for the benefits, and detail how to increase the odds that your application is approved.
NEWS ALERT: Per the official Federal student loan website, a Federal disctrict count is preventing the U.S. Department of Education from collecting on Federal Direct Loans held by Corinthian Colleges borrowers, including students who attended Everest, Heald and WyoTech campuses.
This is the result of a lawsuit called Manriquez v. DeVos (No. 3:17-cv-7210-SK), a case from Northern California that is still pending. This case revolves around the Borrower’s Defnse to REpayment Program, stemming from a claim that the borrower’s loans should be forgiven because Everest misrepresented job placement rates for certian programs.
You can take advantage of this lawsuit by immediately filing for a BDAR discharge, which will automatically force the Department of Education to place your loans into forbearance and/or in stopped collections status.
But Before I Explains BDAR and the Closed School Programs…
Let me first give you a quick bit of advice – so many applications have flooded the Department of Education that it’s now taking them an average of 2+ years to respond to people, so while I definitely do suggest submitting an application, I don’t recommend sitting on your hands until you hear back from them, because you’re highly unlikely to receive any immediate financial relief.
If you’re truly struggling with student debt, then you should also consider paying a Student Loan Debt Relief Agency for help. Why? Because the people working at these companies deal with student loans all day, every day, and they’re your best chance at figuring out how to get your loans back under control.
I’ve interviewed all sorts of debt relief agencies over the past 10 years, talking to all sorts of so-called “experts”, and I can tell you that in all honesty I’ve only found two companies I trust to offer actual financial relief to people struggling with student loans.
For help with FEDERAL Student Loans: Call the Student Loan Relief Helpline at 1-888-906-3065. They will review your case, evaluate your options for switching repayment plans, consolidating your loans, or pursuing forgiveness benefits, then set you up to get rid of the debt as quickly as possible.
For help with PRIVATE Student Loans: Call McCarthy Law PLC at 1-877-317-0455. They will negotiate with your lender to settle your private loans for much less than you owe, then get you a new loan for the much lower, settled amount. NOTE: McCarthy Law can ONLY help with Private student loans.
If you do decide to call one of these companies and you have a bad experience with either of them, PLEASE make sure to come back and let me know about it in the Comments!