Art Institute Student Loan Forgiveness For its part, the state has also recently moved to extend starting salaries in Iowa schools to form the choice to show in Iowa easier on students who could also be carrying an outsized debt burden from college loans.
Historically, Iowa had offered starting salaries for teachers that were among rock bottom within the country. Recently, however, starting salaries for teachers in Iowa have risen from rock bottom one-quarter of all state starting teacher salaries nationwide to about the national median starting salary.
Iowa Grants Begin as Student Loan Forgiveness Program Ends
These new Teacher Career Establishment Grants replace a student loan forgiveness program that was instituted in 2006 and is winding down this year.
The Teacher Education Loan Forgiveness Program, also sponsored by Iowa Student Loan, provided loan debt reduction for quite 300 teachers who enrolled within the program. the scholar loan forgiveness program provided many dollars in college loan debt relief for teachers who accepted assignments in areas where teacher shortages were apparent.
The student loan debt forgiveness program has paid out approximately 20 percent of its committed funds and can pay the remaining 80 percent as program participants fulfill their teaching commitments. The Teacher Education Loan Forgiveness Program stopped accepting applications at the top of the 2009-10 school year .
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.