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College Closures: Many Impacted Borrowers Struggled Financially Despite Being Eligible for Loan Discharges. Testimony before the Subcommittee on Higher Education and Workforce Investment, Committee on Education and Labor, House of Representatives. GAO-21-105373
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Emrey-Arras, Melissa – US Government Accountability Office, 2021
When a college closes, it can derail the education of many students, leaving them with loans but no degree. Those who cannot complete their education may be eligible to have their federal student loans forgiven through a "closed school discharge" from the Department of Education (Education), but this process has changed in recent years.…
Descriptors: Colleges, School Closing, Paying for College, Student Loan Programs