If you attended Concorde Career College you are likely eligible for a student loan forgiveness program.
Concorde Career College has come under a high level of scrutiny recently. Many students of Concorde will find that they qualify for at least one student loan forgiveness program. Call (844) 650-5823 to see which programs will help relieve the stress of student debt.
Concorde Career College failed to properly return student aid money to the Department of Education when students dropped out. According to a financial audit Concorde improperly retained approximately $500,000 due to incomplete record keeping and error in the “return to title IV” calculations.
Most of these errors occurred in 2008, a year when the company nearly doubled its profit from $7.4 million to $13.9 million compared to the previous year.
Due to accounting standards, the 2006 acquisition of Concorde by Liberty Partners private equity
resulted in a significant reduction in the company’s tangible worth. Because of this reduction, the
Department of Education required Concorde to post a letter of credit of approximately $12 million to satisfy the Department’s standards of financial responsibility.
This letter of credit is required because of concerns that the company would not be able to make refunds of student aid or provide teach-out facilities should the school unexpectedly close. This heightened cash monitoring still continues in 2019.
Complete the form to verify your eligibility for student loan forgiveness. You’ll get a breakdown of all of your options for your loans. Consultations are always free.