Right here’s a replica of a redacted letter our consumer obtained immediately – her mortgage is now toast!  We must always anticipate many many extra within the subsequent few days…

Borrower Protection Software Faculty: Argosy College

Approval of Your Borrower Protection Case Below Exhibit C of the Candy v. Cardona Settlement

Pricey XX:

You might be receiving this letter as a result of you’re a member of the category of federal pupil mortgage debtors lined by the latest settlement of the Candy v. Cardona (“Candy“) lawsuit. You submitted a Borrower Protection to Reimbursement discharge utility regarding your federal pupil mortgage(s) on or earlier than June 22, 2022, and also you attended a college listed on Exhibit C (“Faculty”) of the settlement settlement.

Pursuant to the Candy settlement, the Division of Training will do the next:

• discharge your federal pupil mortgage(s) taken out on your enrollment within the Argosy College (“Related Federal Scholar Mortgage(s)”);
• present a refund for any funds made to the Division of Training in your Related Federal Scholar Mortgage(s), together with Related Federal Scholar Mortgage debt that you simply beforehand paid off; and
• delete the credit score report tradeline related to the discharged mortgage(s).

The advantages described on this message apply to your Related Federal Scholar Mortgage(s). The advantages do not apply to non-public loans. The discharge of your Related Federal Scholar Mortgage(s) implies that you’ll now not owe the debt. You additionally could obtain a refund for prior funds made to the Division in your discharged mortgage(s) associated to Argosy College. Your mortgage servicer will let if you’re eligible for a cost refund, which might be mailed to you. Please verify your on-line account together with your mortgage servicer to make sure your tackle is right so you may obtain any refund.

Apart from confirming your tackle, you should not have to take any additional motion to obtain your discharge. Your servicer will ship you extra particulars in regards to the discharge, together with which loans will likely be forgiven. Your Related Federal Scholar Mortgage debt will stay in forbearance and collections will likely be stopped till you obtain aid. Your credit score report can even be up to date to mirror this discharge when it’s full.

When you’ve got questions on this discover, please name our borrower protection hotline at 1-855-279-6207 from 8:00-8:00 ET on Monday-Friday or from 11:00-5:00 ET on Saturday or Sunday.

Sincerely,

Richard Cordray
Chief Working Officer
Federal Scholar Assist