CLOSURE OF WILLIAM TYNDALE COLLEGE
Options now available for private and federal loan forgiveness
FOR PROFIT COLLEGE CLOSES WITH CORINTHIAN-LIKE CIRCUMSTANCES
William Tyndale College was a nondenominational Christian college located in Farmington Hills. The college opened its doors in September 1945 as the Detroit Bible Institute, organized by the Christian Business Men's Committee of Detroit.
In 2001, Congressman Joe Knollenberg worked with Tyndale's President James C. McHann to secure almost $1.5 million in federal funding for the college. In that same year, United States Senator Debbie Stabenow and Sen. Carl Levin also helped the college receive federal funding totaling $461,000. Prior to its closing, Tyndale was held afloat financially by Regent University for a short time, beginning in 2003.
In November 2001, the school was raided under charges that NorthStar improperly provided federal aid to their students through Tyndale. At the conclusion of the case in 2005, Burkeen was ordered to repay the U.S. Department of Education over $300,000. Currently, Tyndale's records are now housed at nearby Rochester College, where some students resumed their studies after Tyndale's closing.Tyndale College closed on December 31, 2004.
All of this sounds familiar. Why? Because, it’s eerily similar to the Corinthian fiasco; textbook Predatory Lending. Students caused an uproar when they heard about it but most if not nearly all of them don’t know about Obama’s student loan forgiveness. They’re just a call away from removing their terrible experience from their past, present, and future.
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.
GoodbyeLoans.com 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 for-profit student loans.
Because forgiveness applications can be so complex, services like GoodbyeLoans.com provide a badly needed service to the thousands of Americans suffering from crippling, and in some cases unjust, student loans. GoodbyeLoans.com’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 GoodbyeLoans.com 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 and lending practices of colleges like William Tyndale College, accused by students of predatory practices and facing increasing transparency.