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Nevada Attorney General Notifies For-Profit College Students of Loan Cancelation

Earlier this month, Nevada Attorney General Adam Paul Laxalt, along with attorneys general from 43 other states and the District of Columbia, announced that former Corinthian College students are eligible for federal student loan cancellation and a refund of payment previously made.  Schools operated by Corinthian Colleges, Inc. include: Everest Institute, Everest College, Everest University, Heald College and Wyotech.

Following careful regulatory scrutiny, for-profit Corinthian Colleges ceased operations in 2015, transferring some of its campuses to a non-profit institution called Zenith Education Group.

The U.S. Department of Education subsequently discovered that during its operations, Corinthian Colleges made numerous misrepresentations regarding post-graduation employment rates at Henderson, Nevada-based Everest College campus, and elsewhere across the nation.

“About 1,300 Nevadans who have not already applied can expect a letter from my office in the next couple of weeks explaining their eligibility for federal student loan cancellation,” said Laxalt.  “My Bureau of Consumer Protection will continue to fight for students who fall victim to institutions that misrepresent themselves, in an effort to help make Nevadan’s aware of their rights and options.”

According to a press release, the letters that will be sent out set-forth available relief to eligible students.  Lists of the affected campuses, programs and dates of enrollment are available at https://www.StudentAid.gov/ev-wy-findings and at https://www.StudentAid.gov/heald-findings. Those students that first enrolled in the identified campuses and programs during the specified time periods are eligible for streamlined discharge of their federal student loans.

Students that attended Corinthian Colleges and believe that they relied upon misrepresentations regarding employment prospects, the transferability of credits or other issues, may seek cancellation  using the Department of Education’s universal discharge application found at https://borrowerdischarge.ed.gov.

More information is available at https://studentaid.ed.gov/borrower-defense.

If you or your company are the subject of an Attorney General or FTC investigation or enforcement action, contact an FTC defense law firm  to discuss how to mitigate potential exposure or otherwise respond.

For more news from an FTC defense lawyer, follow the author on Twitter.

Richard Newman
Richard B. Newman is an Internet marketing compliance and regulatory defense attorney at Hinch Newman LLP focusing on advertising and digital media matters. His practice includes conducting legal compliance reviews of advertising campaigns, representing clients in investigations and enforcement actions brought by the Federal Trade Commission and state Attorneys General, commercial litigation, advising clients on promotional marketing programs, and negotiating and drafting legal agreements. You can find him on Twitter or on LinkedIn at FTC Defense Lawyer.    
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