If You Went to This Colorado College, Your Loans Have Been Forgiven

We all know that attending college in Colorado is extremely expensive. Some students were able to pay for their tuition from their parents or were given scholarships.

Most college students in Colorado use student loans to pay for their tuition.

Colorado residents owe roughly $29 billion when it comes to student loans. Many student loans have been forgiven and will continue to do so.

Student loans have been entirely forgiven for all students who attended one college in Colorado.

Student Loans Forgiven in Colorado

The Art Institute, which had campuses across the country, has officially closed all of its campuses. Time reports that all students who attended the college from 2004 to 2017 will have all of their student loan balances forgiven.

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Colorado was home to one Art Institute location. The Art Institute of Colorado, located in Denver, shut down permanently in 2018.

Why the Colorado College Was Shut Down

The Art Institute was a for-profit college and they misled students into believing that they had true opportunities for careers after they graduated from their school.

However, students struggled to find jobs. Time reports that the Art Institute falsified statistics and essentially deceived prospective students.

Due to this misleading information, the college was shut down. I personally know someone who was a student at the college.

She was given two options a few years ago. She could either have her loans canceled, which would eliminate all of her credits, or retain her credits and continue to pay her student loans.

Since none of her credits were transferable to the colleges she wanted to attend, she decided to eliminate her student loans.

Now, the students who decided to keep their credits will have their loans forgiven.