Did you know that one out of every ten Le Cordon Bleu graduates will be debt free after attending college? That is quite an amazing achievement, especially considering how difficult it was to pay for college! In fact, most students struggle to pay their loans after graduating from college because they were not able to find jobs to pay for school. This can mean a number of things, such as working jobs that pay minimum wages or part-time jobs that offer very little pay. It can also mean that students have to take on multiple jobs just to afford an education.
For students who struggle to pay their loans, Le Cordon Bleu has developed a Loan Repayment Assistance plan that allows them to reduce their debt. The program offers loan forgiveness if a Le Cordon Bleu student enrolls in the class-action lawsuit planning services. Students must enroll in this loan forgiveness program prior to beginning class. This ensures that they will be able to receive assistance with loan forgiveness if they are in need of financial assistance.
There are two specific avenues available for reaching loan forgiveness for Le Cordon Bleu graduates: first, the Borrower Education Assistance Plan (BEO), and second, the Closed School Loan Discharged Plan (CS DLP). The Le Cordon Bleu BEO provides loans forgiveness to students in need. Students in need of assistance with paying off college tuition have a number of options available to them. Loans can be discharged based on several factors, including, but not limited to, excessive amounts of loans, excessive student debt, unreasonable delays in payment, and illegal use of school benefits. Students in all of these situations will be able to pursue loan forgiveness through the BEO.
The CCLS Loan Repayment Strategy Plan (LSRP) is a lending plan that students must follow in order to be eligible for loan forgiveness. For students who are enrolled in the BEO or a similar financial action plan approved by the U.S. Department of Education, they are required to complete the CCLS Loan Repayment Strategy Plan. For those students who are not in any of these programs, it is necessary to pursue a discharge based on the amount of student debt accrued. This process is referred to as Loan Repayment Consolidation. The loan amount may be reduced and the interest rate dropped significantly.
Le Cordon Bleu’s loans forgiveness programs are available for graduate level students in addition to undergraduate students. The graduate student loan forgiveness plan is an opportunity that Le Cordon Bleu gives its graduate degree recipients. For each loan removed, one will be eliminated from the borrower’s debt. This is an excellent choice for students who do not have enough to pay off their loans in full or for students with delinquent payments. However, in order to be eligible for this program, a borrower must demonstrate extreme financial need.
In addition to getting rid of all of one’s student debts, the other option that Le Cordon Bleu offers its borrowers is the Service Release Plan (SRP). With this two programs, graduates can get rid of two separate debts. This helps the borrower focus on just one debt at a time, while paying for it. It is very convenient to use both programs because they do not place a large amount of debt on the borrower at once.
In order to qualify for the Le Cordon Bleu student loan forgiveness via the Service Release Plan, a borrower must first show proof of fraudulent activity. Fraudulent activity is defined as any activity that is done in order to defraud the United States government. Student borrowers who are found guilty of any fraudulent activity are subject to discipline and, in some cases, their scholarships might be withheld. If a government agency discovers that a student has engaged in fraudulent activity, it may report the borrower to the Department of Education for investigation.
Once a fraudulent act has been discovered, the Education Department will conduct its own investigation and determines whether or not the act is a “fraudulent intent to defraud the United States.” If it is determined that fraud has occurred, then the borrower will be instructed to repay all loans and must forget tax debt related to the fraudulent activity. This tax debt cannot be discharged by an IRS audit. The Education Department’s investigation of a borrower does not typically stop there; usually the agency will also request that the United States Department of Education to take further action against the student.