Closure of Dade Medical College and University of Southernmost Florida
Options now available for private and federal loan forgiveness
NON-PROFIT COLLEGE CLOSES DOORS, STUDENTS AT A LOSS FOR WORDS
The for-profit school Dade Medical College and University of Southernmost Florida are to CLOSE DOORS, effective immediately. The announcement was made on October 30, 2015 that they were stopping all operations and instruction at their eight locations across the State of Florida. Approximately 2,000 students around Florida were affected. With the high cost of tuition, many students were left with thousands of dollars in debt, scrambling to find programs that will accept their transfer credits, and no degree. Additionally, hundreds of employees are out of work.
STUDENT LOAN FORGIVENESS
Students who attended have two options; apply to have their loans discharged or transfer earned credit to another institution. If students want to keep the credits they’ve earned from a Dade Medical or University of Southernmost Florida school they can look into transferring to another school with a comparable program. In this scenario, schools will evaluate course work and decide if students get credit for the work already completed and what courses they need to take to finish their program of study.
Transferring credits, however, is going to be difficult for many students because Dade Medical College and its sister school University of Southernmost Florida lacked the academic accreditation needed for most universities and colleges to accept the credits. Still, the Commission for Independent Education is working with institutions in the area of the closed schools to find schools with similar programs that may accept students. On their website, the CIE has a listing of licensed institutions with similar programs, however, it is not confirmed that these institutions will accept the credits as part of any transfer so students are advised to contact the institutions.
The U.S. Department of Education is working with Dade Medical College, University of Southernmost Florida, and the Commission for Independent Education to process student records from the affected schools as fast as possible so that transfer schools can start evaluating students’ remaining eligibility for federal student aid funds. Additionally, students that are concerned about how to retrieve their records and transcripts can find information on the Commission for Independent Educations web page created particularly for displaced students of Dade Medical School and University of Southernmost Florida.