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Fri April 25, 2014
Mid-Continent Students Unable to Finish Their Program Can Get Federal Student Loan Payments Forgiven
Mid-Continent University students who are unable to finish their programs due to the institution’s closure may not have to pay their federal student loans.
The Department of Education says students who do not transfer and do not finish the program they started at Mid-Continent are eligible for discharges on direct and Federal Family Education loans. But Kentucky Higher Education Assistance Authority Executive Director Carl Rollins says getting a loan discharged isn’t necessarily the best option for Mid-Continent students.
“The best thing they can do is finish their education and get their degree," he said. "That should be their first priority, and if whatever program they were in if they can get that degree that would be to their benefit, if that’s what they want to do. If they want to change to a different program and get a different degree then it would be a good opportunity to get their loan forgiven.”
Eligible students must fill out a loan discharge application and send it to the loan holder, which can be found in the National Student Loan Data System, but the Department of Education says that cannot be done until after Mid-Continent closes June 30.
More information on school loan discharges can be found online at the Kentucky Attorney General’s website.