MISSISSIPPI (WDAM) - Attorney General Jim Hood announced Friday that nearly 6,000 Mississippians are eligible for federal student loan cancellation.
According to Hood, when a student's federal loan is canceled, the student will no longer make payments on the loan, and any payments already made will be refunded.
Hood said the loan cancellation applies for students who were taken advantage of by for-profit colleges.
Eligible students must have attended and used those loans at schools operated by the for-profit Corinthian Colleges, Inc.—including Everest Institute, Everest College, Everest University, Heald College, and Wyotech, according to Hood.
Those who are eligible will receive a letter explaining the relief available. Recipients should then file the enclosed application with the U.S. Department of Education.
Hood said students who first enrolled in the identified campuses and programs during the specified time periods are eligible for streamlined discharge of their federal student loans.
"This is a victory for students who were scammed in their efforts to further their education," said Hood in a statement made on his Facebook page. "I hope these refunds are a relief for these thousands of former students."
Hood said any student who attended Corinthian Colleges and believes that the school was untruthful about job prospects, the transferability of credits, or other issues may apply to have their federal student loans canceled using the Department of Education's universal discharge application here.
"Our outreach will be sent to students who fall within the U.S. Department of Education's findings of fraud discussed above and are eligible for a special 'streamlined' process to discharge their federal student loans," said Hood in the statement.
To read the entire statement, click here.