Get Out of Debt Guy - Steve Rhode

My Sanford Brown Campus if Closing and Nobody Will Accept My Credits

1-844-335-1967

Question:

Dear Steve,

You’re post about IADT switching to Sanford Brown and now closing – that’s me.

To make matters worse I moved to New York and attended a school that now also has accreditation issues. I left the school thinking I could transfer but because of the issues, no other school took my time in serious.

I have a massive student loan now. I have been making efforts to pay it down but in the years active all that I pay goes nowhere – literally, my loan as grown if anything.

What do I do? I pay and it goes nowhere. My time in school doesn’t even count or get taken seriously by any employer or school I attempt to transfer to in order to finalize a degree.

Laisa

Answer:

Dear Laisa,

Somehow I need to find kind words to help you come to grips with the reality of the lower tier for-profit schools. The most reliable schools to attend are going to be public and state colleges.

I see Sanford-Brown is now referring people out to Colorado Technical University or American Intercontinental University. You should expect more of the same.

The issue really becomes one of the cost of the education, the likelihood of graduation, and the earning potential afterward. And those are considerations that most people don’t consider before applying to attend most schools.

There are websites out there like College Scorecard which give you data and information necessary to make sure the cost and performance of the school is worth considering.

“When a student makes a personal and financial decision to attend college, the student must feel confident that it is a sound investment in his or her future, not a liability that will further defer his or her dreams,” said U.S. Secretary of Education John B. King Jr.

It looks like you probably have private student loans. Depending on who you owe, there may be options to settle the private student loans, default to negotiate, or see if they may be discharged in bankruptcy.

I hate to make you feel as if you are a victim here but I think you’d agree the reality is the for-profit schools may have misled you about the quality of their education and overcharged you for what you got. Many schools simply were less than candid with prospective student in an effort to extract money out of them through student loans.

By the way, Sanford Brown just made the Department of Education fail list.


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