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October 3, 2016

ATTORNEY GENERAL MADIGAN: HUNDREDS OF ILLINOIS REGENCY BEAUTY INSTITUTE STUDENTS ELIGIBLE FOR STUDENT LOAN RELIEF

Chicago — Attorney General Lisa Madigan announced today that hundreds of former Illinois students who attended Regency Beauty Institute are eligible to have their federal student loan debt forgiven by the U.S. Department of Education.

Regency, with 10 locations in Illinois, permanently closed its 79 nationwide locations on Sept. 28, 2016. Students who were enrolled on that date, or who withdrew from Regency within 120 days prior (on or after May 31, 2016), are eligible for a closed school discharge, which means all of their federal loans will be discharged and they will receive a check for any amounts they paid on those loans. A comprehensive FAQ on the closing can be found here on Madigan’s website.

“Students enrolled at for-profit schools that close qualify to have their federal loans forgiven,” said Madigan. “We’ve received complaints from concerned students and parents and I encourage others who may be impacted by Regency’s closing to call my Student Loan Helpline.”

To apply for closed school discharge, Regency students should send the following form to their loan servicer: https://studentaid.ed.gov/sa/sites/default/files/closed-school-loan-discharge-form.pdf. Affected students are also encouraged to file a formal complaint with Madigan’s office at: www.illinoisattorneygeneral.gov.

Attorney General Madigan is a national leader in investigating and enforcing consumer protection laws in the higher education field. Madigan is leading an investigation into Navient (formerly Sallie Mae) and has reached several settlements with for-profit schools. Madigan also launched a Student Loan Helpline, 1(800) 455-2456 (TTY: 1 (800) 964-3013), which is answered by trained staff who can assist borrowers, including former Regency students who believe they may be eligible for relief.

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