CHICAGO (Legal Newsline) - Illinois
students who attended Regency Beauty Institute are eligible to receive
student loan debt forgiveness from the U.S. Department of Education, Illinois
Attorney General Lisa Madigan recently announced.
Regency had 10 locations in
Illinois and 79 nationwide prior to its closing in September.
To be eligible
for federal loan forgiveness, students must have been enrolled on the Sept. 28 closing date or have withdrawn within the last 120 days prior to Sept. 28. If eligible, students will receive a closed school discharge, which means
all their federal loans will be discharged and they will receive checks from the
government for loan amounts already paid.
“Students enrolled at
for-profit schools that close qualify to have their federal loans forgiven,” Madigan
said. “We’ve received complaints from concerned students and parents, and I
encourage others who may be impacted by Regency’s closing to call my student loan helpline.”