What The Discontinuation Of Sanford Brown Means For You: UPDATED 2024
Attending one of the Sanford-Brown Institutes? Your educational and even financial future may be looking cloudy.
The Career Education Corporation (CECO) recently announced the discontinuation of Sanford-Brown Colleges.
Keep reading and find out what this means to them and their loan debts. Click here for more details.
Sanford-Brown College and Institution Closing Its Doors
But Don’t Panic Yet… I Will Go Over Why in Just a Minute.
We read the full press release from the CECO. There will be a short summary of what it means for the students attending the College or Institution.
Sanford-Brown’s parent company announced their new strategy a couple of years back. This points to its resources and focus towards their regionally accredited universities. It consists of Colorado Technical University (CTU) and American InterContinental University (AIU).
Sanford Brown closing all schools and online programs have already begun. The goal is to help on a re-focusing strategy.
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This Means that Sanford-Brown’s Doors Will Slowly Shut rather than Slamming Shut on Students, Faculty, and Staff
But when it Comes to Those Directly Impacted…is There Really a Difference?
The CECO released a statement about their decision to move forward with a teach-out route. A teach-out will lessen the negative impacts on faculty, students, and staff members.
The teach-out will go into effect immediately over the 14 different Sanford-Brown Colleges. This includes Sanford-Brown online.
Many of the full-time employees and students have been released from their positions. This move is leaving students with more questions than answers.
It will take anywhere from 2 to 3 years to for a full teach-out of institutions and colleges. Minimal resources and scheduling will leave people that lingering thought. How many students will stick with campus class offerings?
So, What does the Sanford-Brown Teach Out Mean for Students?
There are over 30,000 enrollees in the Sanford-Brown College Online division alone.
The students who are about to graduate within the next year or so may not see the change affect them as much. But, students currently enrolled in the college or institution will.
Feel any Better Yet?
Some of you might feel blindsided, abandoned, and angry. For many students, the duration of the teach-out program will only be a mere part of a full college term.
When the College and Institution’s doors do close on these students, what are they going to do?
Sanford-Brown campuses provide students with an array of expensive programs. Students who attend Sanford-Brown accumulate an average of $65-85K in student loan debt. This debt range is two to three times the cost of attending a public college or university. There’s no doubt the average debt of Sanford-Brown attendees will be high.
Students must find a way to continue their degree elsewhere or drop out completely. Otherwise, they will continue to use federal student loan money while inevitably being kicked
Employment Path for Affected Students
Where will these students turn considering the people they grew to trust started to disappear from campus over a year ago and have continued through the announcement yesterday?
Many of the students impacted by this decision will have trouble finding employment in their niche field. It’s either because they may not finish their degree or because of the negative press, this decision will have on how employers will view their degree.
Yet, most students need to pay off their student loans. That is if they drop less than half time and/or choose to discontinue their education during the “teach-out process,” regardless of whether or not they can afford to do so.
They may find many of their credits will not transfer to other colleges. Many will feel the trap to accumulate more student loan debts.
Students have felt or already feel as though they don’t have to repay the loans because the school is closing. But in reality, they do and will have to start paying them back right away.
There is a help to uncover the options available, including lowering your student loan payment and portions of your loans being forgiven.
While the discontinuation of Sanford Brown Institute may have left their students feeling stranded and helpless, there are choices those students can make to get to where they want to be in their educational and financial future.
Discover those choices now.
Let’s Lower Your Student Loan Payment
It’s super simple to see what you’re eligible for, and our trusted team can get you set up today
There are a few updates we want to include here to stay on top of this:
Debt Forgiveness Settlement: In 2019, a significant settlement was reached between Career Education Corporation (CEC), the parent company of Sanford-Brown, and 49 state attorneys general. This settlement provided $493.7 million in debt relief to over 179,000 students nationwide. The settlement also included reforms to CEC’s recruiting and enrollment practices to prevent future misconduct (Attorney General)
Borrower Defense to Repayment: Students who believe they were misled by Sanford-Brown may be eligible for loan forgiveness under the Borrower Defense to Repayment program. This federal program cancels federal student loans if the school engaged in misconduct related to the loans or educational services provided
Closed School Discharges: Students who were enrolled at Sanford-Brown at the time of its closure or within 180 days of its closure might be eligible for a closed school discharge, which forgives federal student loans if the student could not complete their education due to the school’s closure
Scams and Fraud Warnings: Following the debt relief settlement, there have been reports of scams targeting former Sanford-Brown students. These scams often claim to offer assistance with debt relief in exchange for personal information or advance fees. Authorities have warned students to be cautious and avoid giving out personal information or paying for such services (Attorney General).
What can you say about the discontinuation of Sanford Brown? Share your thoughts in the comments section below!
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