Private Student Loan Forgiveness

You might have been very excited to hear about private student loan forgiveness programs, and their ability to eradicate debts. Private student loans were seen as a saving grace for many students when they were struggling with their student fees. But this blessing of private student loan debt, has turned into a curse for many. But worry no more, in recent years the Federal Government has been cracking down on private student loan lenders. 

This year alone, the Government has been taking down dozens of private schools, private student loan servicing companies, private lenders, and any education-related loan service that has the name “private” in there. The Federal Government is forcing these Ponzi schemes to shut down, filing lawsuits against them, forcing them to offer refunds to students, and more. In the end, private student loan forgiveness programs are sure to benefit millions of Americans. 

The indication that the private student loan business is going to change forever is the lawsuits that have been filed by federal governmental bodies. The Consumer Financial Protection Bureau, Department of Education, and the Federal Trade Commission are all preparing to sue the living life out of these private student loan organizations. The goal of this article is to educate you on some private student loan forgiveness programs that you can use to take the burden of debt from your shoulders. Let’s get cracking!

Borrowers Defence Against the Repayment Program

One of the simplest, yet most potent methods of private student loan forgiveness is the Borrowers Defence Against the Repayment Program (BDARP). The reason behind the genius of the program is that, you challenge the very existence of private student loans. The nature of the program, and why you would not have taken it in the first place. You argue that you have been scammed, promised things that you have not received by the lenders, school, and the loan providing company. The very idea of being lied to can be used to defend yourself against the debt process. In the end, you could have all of your debt forgiven, which makes it even more worth the effort of looking into it. 

To benefit from the Borrowers Defence Against the Repayment Program and get your application approved, you will need to prove some points from your end. You will have to confirm that your loan provider or school has lied to you in some way. This can be done by providing proof of false advertising, promises of specific jobs, salary, deceptive claims, or expectations of some sort given by the school or lender. Something as serious as a violation of Federal and State law is also an excellent point to use in your defense. These false promises were used to convince you to take the loan in the first place. 

Certain ways to qualify for the program

There are four crucial ways you can be eligible for the program and prove that your loan is invalid. Through the Borrowers Defence from Repayment Program, you can make the loan you have to pay off invalid. The four primary ways of doing this are:

  1. Prove that you were taken advantage of in some way, either through the lender, school, or loan servicer. 
  2. Proving that you have been paying a private debt for a long time, but your balance has not been declining. 
  3. You are attending a place of education that has made false claims regarding the value of your education program, which cannot be proven. Schools like ITT Tech, DeVry, Corinthian Colleges have all been bombed with these accusations. 
  4. If the lender or school has tricked you with false advertising or wrong statements to get you to take loans. 

In short, the Borrowers Defense against the Repayment Program is a solution that may seem a bit complicated for the most part. But it is a program that you can register for all by yourself. If you especially have a background in law, writing, and research, it is worth doing on your own. 

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Asking around for help

As stated above, it may be tempting to register for the Borrowers Defence from Repayment Program all by yourself. But, if you have never gone through such a process, or do not have the motivation to pursue the case entirely, you should highly consider asking for help from trusted third-parties. You might even have a chance of screwing up your application form, which can cost you a lot more than the money you are paying every month. Most experts advise getting help from specific services to help you gather the necessary information and submit your papers. 

Private student loan forgiveness programs can be a slow and tiring process. Some approval processes can take even years. Imagine messing up a particular area of the form, and having all of those efforts you made get flushed down the toilet. This risk makes it essential to hire a service that can increase your odds of getting your request form approved.

Navient Student Loan Forgiveness Program

If you are looking for a private student loan forgiveness program regarding Navient, you are in for a big treat. Since last year, the Consumer Financial Protection Bureau has kickstarted different lawsuits against the company. Navient is being accused of severely illegal activities regarding private student loans. Some of these activities are:

  • Lying to loan borrowers regarding the requirements to release co-signers.
  • Hurting the credits of the disabled or severely injured like veterans.
  • Failure to allocate the payments of borrowers to their respective accounts.
  • Covering up information that borrowers could have used to keep their low monthly payments. 
  • Wrongfully persuading loan takers to pay a lot more than they had to regarding their loans. 

The Navient Student Loan Forgiveness Program is similar to the Borrowers Defence for the Repayment Program. You will need to go through a similar process to apply for the benefits. Since the application process is the same, you are likely to see similar results. As a result of the program, you will have a chance to have your loans completely forgiven. All you have to do is prove that Navient has violated any Federal or State Laws while servicing you on your student loans. 

Closed School Discharge Program

The Closed School Discharge Program may be one of the most deserved private student loan forgiveness programs. It is an excellent option for students whose schools were shut down before they finished their degrees. It is guaranteed debt forgiveness for those who have taken Federal Loans, but a shot in the dark for students with Private Loans. 

To be eligible for the program, you need to prove that you were actively attending your place of education at the time of it shutting down. This includes taking courses, or even being on an academic break, as long as you were planning on fully completing your education. If this process has happened during the time of closing, you are golden!

The process may seem simple, but it does require you to get your transcripts from your university or college. After receiving these transcripts, you will need to submit them to the organization that services your loans. 

It can be a lifesaver for students that have invested massive amounts of time and money towards achieving their degree of choice. Imagine having your ambitions cut halfway because your school has shut down halfway through your education. All of these aspects cement the idea that you deserve to apply for this private student loan forgiveness program. 

Corinthian College Student Loan Forgiveness

Private student loan forgiveness can also apply to Students from Corinthian College. The schools that were within Corinthian Colleges were Everest, Heald, and Wyotech. When these schools closed shop, thousands of students were left to attend to their massive amounts of debt. They had no way of completing their studies, and starting their careers to pay off the loans. 

This epidemic sparked mass protests throughout the states. Tens of thousands of students filled the streets publicly, stating that they were not going to pay off their loans. As you have understood, this did scare a lot of student loan providers, and Congress members. 

As a result of all of this, the Corinthian Colleges, US Government, and student loan providers all came together to create the program known as Corinthian College Student Loan Forgiveness. They have created ways for students to get rid of their Corinthian School loans and have them forgiven, whether they are private or public. 

ITT Tech Student Loan Forgiveness

If you attended ITT Tech school and your place of education was shut down before you could complete your education, then you are eligible for the ITT Tech Student Loan Forgiveness program. After the school closed, thousands of students were left to attend their loans without a chance to graduate. Due to the size of the school, after its shut down, it was the second biggest forgiveness program on offer to help students relieve themselves of the loans. 

You could have up to 100 percent of your loan forgiven if you can qualify. But there are some conditions that you have to pass to secure your spot in the program. The most prominent situation is that you must have attended ITT Tech 120 days within the time that it shut down. If you  If you meet the criteriaare nibble on your toes, you can apply for the program, and be relieved of your debts.

Private student loan forgiveness programs that relieve you of your debt on the basis that your school has shut down, are righteous ways to be free of loans. If you have not had a chance to finish your education because the school closed with reasons unrelated to you, you should not be forced to pay your loans. You can especially consider the fact that you took these loans intending to graduate.

DeVry Student Loan Forgiveness

The DeVry Student Loan Forgiveness has lots to offer to students struggling with high amounts of debt. The total number of loan forgiveness on offer amounts to 100 million dollars. Students who have taken both Federal and Private loans can both benefit from the program. 

Just as with any private student loan forgiveness program, you will need to qualify for this one through some conditions. The main requirements to apply will require you to have attended DeVry between the years 2008 and 2015. Why precisely these years? Well, it was between these years that the Department of Education struck down upon the school with the wrath of God proving that once again, the students were being misled. According to the accusations, DeVry misleads students regarding their future salaries, job prospects, and more. Just as with any private student loan forgiveness program, you will need to fill out tons of paperwork that proves your outstanding loan, student status, etc. The many forms filled may be a small price to pay, because you may have your years worth of loans erased. 

One of the easiest ways of knowing if you qualify for the program is to receive a letter from them. This letter will state your eligibility for the program, and is sure to put a smile on your face. 

Aequitas Capital Student Loan Forgiveness

Aequitas Capital is one of the biggest and most well-known cases in both Federal and Private student loan forgiveness history. The company was a big Hedge Fund which was involved in some shady business deals. Aequitas started getting involved with student loans business by joining Corinthian Colleges. Their actions can only be called a Ponzi scheme because they scammed thousands of students out of their 200 million dollars. They gave students less than sub-par education in return for all of the money. Besides being a scheme, their actions can only be described as being highly immoral.

If Aequitas Capital and their gang have also scammed you, you may be in luck. The Consumer Financial Protection Bureau (CFPB) and the 12 State Attorneys have struck the Hedge Fund with devastating lawsuits. If all goes well, the 200 million dollars will be given back to the students who became their victims.  

National Collegiate Student Loan Forgiveness

If you have any knowledge regarding the history of private student loan forgiveness programs, then you must have heard about the case of National Collegiate. The Student Loan Forgiveness program for National Collegiate students can be seen as one of the most prominent student debt forgiveness acts in history. It is an excellent example of a loan giver-driven package. 

Around 5 billion, that’s right, 5 billion dollars in private student loans might be forgiven. You can thank a clerical error for the whole ordeal. After losing critical documents, it was discovered that National Collegiate’s Trusts might benefit from and own the debts which they are collecting. These debts were going to be collected from thousands of American students all across the country. 

If you consider the fact that they cannot prove to anyone in court that you owe them money, they have no way of forcing you to pay. They simply will not have the paperwork and documentation that states the amount you owe them. Basically, anyone that has a student loan that comes from National Collegiate, might have a chance to have all of their loans forgiven. 

Your School Specific Private Loan Forgiveness Programs

Referring to all of the private student loan forgiveness programs above, you could see that there are perfect solutions and programs to help you relieve your debt. Most of these programs are aimed towards students that have attended a specific school. These schools are mostly large for-profit universities that have been accused of running major Ponzi schemes towards their students. They were found guilty of making false advertisements that mislead students through wrong claims. These claims were regarding their salaries after graduation, and the benefits they would receive during their time studying. In the end, they ended up violating State and Federal Laws, which cost them a ton of well-deserved lawsuits. 

Throughout the history of student loan relief, there have been three major school-specific private student debt forgiveness programs that have made the most noise. Starting with Corinthian Colleges, which include names like Heald, Wyotech, Everest, and other schools such as DeVry and ITT Tech, have all been accused of some unlawful activities. It is good to keep your eyes and ears open all the time because almost every other month; another school is going bust. They are exploding like pinatas that drop private student loan debt everywhere. 

But do not get your hopes up just yet. Because you might think that since your school has shut down halfway, you will get your loans forgiven, you could be mistaken. Just as with anything that will end up benefiting you, the Government has put out strict guidelines for eligibility. In most cases, you will be required to have attended the schools at specific time frames. If you have failed to fall under these guidelines, you might have a hard time getting the private student debt forgiveness you need. 

Keeping up with the updates

In the world of private student loan forgiveness programs, you need to be up to date with the latest news. Whether you are currently eligible, or attending a different school with the same problems, you should check around for regular news or updates. Things could either turn in your favor or against you. There is a high chance that you will see different schools get showered with these new lawsuits. No one knows, it may be your school next. One thing that is for sure is that numerous students across the continental USA are about to hit the jackpot of a lifetime. 

Consolidation on Private Student Loan Forgiveness

If you are on the hunt for a private student loan forgiveness program, then a Consolidation may be your best bet. This is especially handy if you do not apply for any of the programs mentioned above. 

The roots of consolidation programs go far beyond the private student loan debt dilemma. Before private student loan debt became a widespread issue, consolidation programs were dealing with the obligations of people regarding other matters. If you had a mortgage-related loan and credit card debt, a consolidation program was the place to go. They had potent ways of making your debt and monthly payments more affordable.  

The primary working process of a consolidation program is that you take a single loan from a lender that will help you close other loans that you may have taken regarding your education. Through this process, you will end up paying a lower interest rate with a simple payment method. You could even end up having an extended loan repayment time, which will result in lower monthly payments for you. 

Loan consolidation can be seen as a different kind of loan refinancing, but you will end up taking multiple loans and turn them into a more affordable, more jumbo loan. This may seem scary for you at first, but considering the massive amounts of monthly payments you make, it is often better to pay for a single loan. You will be trading in a smaller monthly payment for a bigger single loan. 

The Risk of Consolidation

As with everything, private student loan debt consolidation may come with some downsides. You could be risking losing access to other benefits if you do not do it the right way. 

One of the biggest mistakes made when it comes to loan consolidation is mixing your private loans with the Federal ones. Unfortunately, many students do make this mistake and lose their chance of getting benefits on their Federal Loans. 

Just as there are many loan forgiveness scams out there, this disease has spread into the world of loan consolidation. During your shopping for a consolidation program, you are more than likely to run into them. This makes it crucial to do as much research as possible before picking your loan partner. If an offer sounds too good to be true, often it is. 

Let’s say you are on the market for a consolidation program to relieve your private student loan debt; you should find Government approved hotlines and get all of the information needed. If something does smell fishy regarding a company, often it isn’t fish. 

Mixing Federal and Private Loans in Consolidation

As mentioned above, it is highly advised that you do not mix Federal and Private loans. Doing this during the consolidation program could end up costing you the great benefits you could have gotten from the Federal Student loans relief package. You could train-wreck your chances of qualifying for them. 

If you have multiple kinds of loans from both the Government and Private lenders, it is advised that you avoid consolidation programs. Instead, you should look for other ways of dealing with your private student loan debt. 

You should consider other loan modification or loan refinancing services that can help you in this regard. These programs are aimed to help students that are struggling with monthly payments. Since there are so many services out there, finding a hotline and asking for help could ease your search. 

Most services, even hotlines, will cost you money. But in most cases, you will be able to squeeze in a free call or consultation. Using this to your advantage, you can ask the most critical question that you have a hard time finding answers to. This makes it essential to give them a call and set a plan of action for yourself. 

Modification Programs for Private Loans

If you do not apply for any private student debt forgiveness and do not have the funds to check out other means, you could do research into Modification Programs. These programs give you the chance to restructure your debt in a better way. You might end up reducing your monthly payments and make them more affordable. 

Anyone with a private student loan debt will be eligible for some kind of a modification program. The reason for this is, they are on offer by almost all student loan giving companies. They also come in different forms and deals. 

A modification program may be your best bet if you find yourself in financial trouble. You could be looking to drop your interest rates because they were high when you took the loan. Or your credit was merely unfortunate. A student might even be looking to stretch the period they want to pay off their loans to lower monthly payments. It could also be anything that will boost your chances of dropping monthly bills. A modification program is the best way to go without losing many opportunities in the future. 

Some nuances

The only trouble you might run into when going through with a modification program is with your lender. They might not always be willing to go easy on you when it comes to adjustments. In some cases, they might refuse the offer as a whole. You could end up with a private student loan debt that cannot be fixed or altered. 


To discover your chances of being eligible for modification regarding your private student loan debt, you will need to contact your lender first. You will need to be upfront about your situation and ask them what they can offer you. If they do not respond to you asking them nicely, you could bring in some muscle. No, not beat them up, but ask help from experts in private student loan debt. Some experts will be willing to advocate on your behalf. That is going to happen in return for a fee. So make sure to choose wisely and try to negotiate personally with your lender. 

Apply for Student Loan Forgiveness Help

If you struggle with university student loan forgiveness, then you should get help with that. Because the employees in these agencies are dealing with the student loans every day and they have enough experience for solving different kinds of student loan problems.

Bankruptcy Discharge on Private Loans

The Private Loans Bankruptcy Discharge should be your last desperate attempt to relieve yourself from private student loan debt. If you have any other means of finding a solution for a student loan, take them. Filing for Bankruptcy will not come easy. You could even be met with more financial issues. There are new updates on the program that eradicates the guarantee that your private student loan debt will be forgiven. 

They have made it so hard to erase private student loans through Bankruptcy that is simply filing for one does not cut it. You will have to prove in court that your loans are pretty much stopping you from living. There needs to be proof that these monthly payments stop you from purchasing necessities that you need to live. It may sound like a harsh life, but unfortunately, many graduates do face such issues.

There will be a need for you to provide some forms of documentation that explain the cost of your loans. It also needs to showcase that your monthly fees stop you from paying for things like shelter, food, clothing, and healthcare. Having a family will mainly be a bonus for you because then you are not the only one who has to carry the burden. 


If you can prove in court the cases mentioned above, you will have the chance of walking away as a free man. The judge will have no option but to erase your debt fully through the Bankruptcy Discharge from the Private Student loan program. Although it is not guaranteed, in most cases, the judge will not have many options left. 

It should once again be heavily stressed that this method should be your only option. Since there are many choices out there, do not see this as the best means of shaking off your private student loan debt. You might even be denied on the basis that there are many private student loan forgiveness programs out there. But if you owe so much that, there is no way of you paying off your loans with the income you have, then this may be your only route. 

Hopes for the Future

Well, what is to come next one might ask. With the ever-growing attention on the private student loan forgiveness program, it looks like more help is on its way. Private student debt forgiveness is becoming a cause that many organizations are trying to help. Every day more organizations are being created to show support and assist American students in their struggles. Even if they are not able to help them, they are advocating for them and pushing for change. 

To improve matters, Congress is looking into the bills that have been presented to them regarding private student debt forgiveness. These bills are designed to provide students with more effective measures to combat their private student loan debt. These bills could also come with new opportunities for those who feel like there is no way out. 

Since private student debt forgiveness is becoming a big part of politics, it is also good to keep an eye out for President Trump’s plans regarding the subject. Since there are ongoing problems in the oval office, there is no telling what will happen next. So, open your ears and mind and wait patiently for the next private student loan forgiveness program that may just save your future!