CLOSURE OF BARAT COLLEGE
Options now available for private and federal loan forgiveness
FINANCIALLY TROUBLED NON-PROFIT SHUTS DOWN
Its Name Is Barat
Barat College of the Sacred Heart was a small Roman Catholic college located in Lake Forest, Illinois, United States, 30 miles north of Chicago. The college was named after Saint Madeleine Sophie Barat, founder of the Society of the Sacred Heart.
Barat College had officially closed its doors as of June, 2005 but the school has been financially shaky for years, switching educational programs and ownership often. Students are still saddled with the massive debt they accrued over their relatively short time at the school.
This reminds one of the American College of Education, which was similarly purchased by DePaul University. The school had terrible reviews from students and teachers alike for its predatory lending practices and for its mediocre education programs. For students who went to either school, Obama's Student Loan Forgiveness might just be the key to setting them free.
Some tech startups, like Goodbye Loans, work to assist students who’ve had experiences like these at colleges like Barat College with their federal and private student loans. “We understand exactly how hard it can be to cope with looming debts in the face of a struggling economy, and we’ve taken the time to thoroughly examine the systemic options of optimized repayment and/or loan forgiveness, so that you can take the shortest path to moving forward. This is by no means an intention to slander or defame colleges like Barat College or American College of Education in any way. There are enough credible sources that we felt prompted to take action and offer our insights to any student faced with overwhelming debt or institutional injustice.”
STUDENT LOAN FORGIVENESS
What is arguably the national crisis of total student loan debt currently exceeds 1 trillion dollars, according to a report by the Consumer Protection Bureau, and there have been widespread government initiatives to provide the opportunity for partial or total student loan forgiveness, as well as entrepreneurial social movement to provide real expediting services (at affordable prices for all), in the interests of restoring the balance of our economy.
Goodbye Loans is one service that helps students navigate the options and programs offered by the Department of Education, and provides real guidance for pursuing consolidation, reduction, and even total forgiveness of both federal and private student loans.
Because forgiveness applications can be so complex, services like Goodbye Loans provide a badly needed service to the thousands of Americans suffering from crippling, and in some cases unjust, student loans. Goodbye Loans’s core staff are dedicated young entrepreneurs, committed to providing a “smart fix” to this national problem, offering “no-strings” consultations, affordable pricing, and swift resolution. With more solutions-oriented services like Goodbye Loans entering the market place, it will be interesting to see what can be done about the national student loan debt, as well as the closure of colleges like Barat College, accused by students of predatory practices and facing increasing transparency.
If you attended Barat College and feel you deserve relief for loans from a closed college, give us a call today or fill out the form below to get started. You may qualify for federal loan forgiveness and private student loan discharge.