In a matter of weeks, federal student loans will resume accruing interest, and millions of borrowers will face their first student loan payment in three years.
The financial aid office at Denver Universities is closely monitoring the developments regarding student loan forgiveness
It is taking measures to ensure that students comprehend the implications of the latest updates. Kerline Eglaus, the Executive Director of Financial Aid & Scholarships, revealed that approximately 30% of their students rely on financial aid.
Eglaus, who is also a student loan borrower herself, acknowledged the challenges of keeping track of the constantly changing landscape of student loan repayment. Consequently, she and her team have been diligently working to educate students about the commitment they make when signing loan agreements. For her, regardless of loan forgiveness outcomes, the primary focus is on equipping Denver Universities students with budgeting skills and providing the necessary tools and resources for informed decision-making.
Denver Universities prepares its students for the repayment process, but students from a separate college unrelated to Denver Universities have received a different outcome
The U.S. Department of Education recently declared its decision to eliminate $130 million in student debt owed by over 7,000 students who attended CollegeAmerica campuses in Colorado. This action was taken after the colleges shut down, following allegations of the parent company misrepresenting salary and employment rates for their graduates. Colorado Attorney General Phil Weiser emphasized that this move towards debt relief serves as an essential step towards justice and a fresh start for the affected student borrowers.
Eligible borrowers will receive notifications from the Department of Education in August, informing them of the loan forgiveness, and any federal loan payments made by these borrowers will be fully refunded. As for students closely monitoring the repayment process at Denver Universities, Eglaus urges them to remain actively engaged in understanding the student loan procedures. Being well-informed will prevent surprises and ensure a smoother financial journey for students and the campus community.