Art Institute Student Loan Forgiveness The Art Institutes (often commercially abbreviated and stylized as AI) may be a collection of personal , for-profit educational institutions for career preparation within the visual, creative, and applied arts, including design, media, fashion, and culinary programs. Nowadays there are 45 Art Institutes located in major cities across North America, and have over 125,000 graduates. The Art Institute Online, a division of The Art Institute of Pittsburgh, also has online courses available. The AI awards master’s degrees, bachelor’s degrees, associate’s degrees, and non-degree-program certificates. AI is headquartered in Pittsburgh, and may be a division of Education Management Corporation (EDMC). Educational accreditation of The Art Institutes and their programs varies among campuses and programs.
At this day the Institutes announced that they’re going to help to both, the domestic students and therefore the international students from the schools in New Orleans , southern Louisiana, Mississippi and Alabama universities. These universities were closed on the indefinite term after the damaging explanation for the Hurricane Katrina. All the scholars appeared without homes and academic establishments. and therefore the Institutes decided to require care of these students and take them to continue their studying.
Type of Art Institute Loan ForgivenessThere is a glimmer of hope for students whose present and future financial conditions were affected by the recent closure of the Art Institute colleges. A large portion of students are getting loans forgiven under the Art Institute loan forgiveness programs. Students caught in the unfortunate incident of Educational Management Corporation’s demise can apply for loan forgiveness in two ways:
- The Closed School Student Loan Program
- The Borrower’s Defense against Repayment Program
Closed School Student Loan Discharge
The first student loan forgiveness program (The Closed program) is operational under the federal government’s long-standing intervention in the case of students from colleges that were closed down due to one reason or the other. Therefore, if your college closed down before you get the chance to finish your education, you may be eligible for this discharge program. Under this program, you must have left the school no more than 120 days before its closure, or you were still a student at the art institute before its close down.These are the two general eligibility criteria for students under this program. Former students can obtain the art institute loan forgiveness under these provisions.
Who Is Eligible?
There is a lot of information online about the Closed Program. Students can, at times feel overwhelmed with an avalanche of information. Hence, we have simplified the information so you know what to look out for and determine if you can benefit from the art institute loan forgiveness program. To make the best of this information, please take your time to review it before carefully applying for the program.As explained earlier, students get loans that they took during your study at The Art Institute written off if you meet two essential criteria.
- If you happen to be a student at The Art Institute before its closure.
- If you completed or left the school less than 120 days before the day it closed.
Apart from these two, there are two other minor requirements that you need to meet before you apply for an art institute loan forgiveness program. These are :
- Students currently enrolled in another institution after the transfer of their credit do not qualify
- Students who have completed their coursework prior to the closure of the school but are this Discharge program.