Genesis Loan Forgiveness
For Private Student Loans
Timeline of Events
Genesis Capital is formed and create private student loan Genesis.
Consumer Financial Protection Bureau sues Corinthian Colleges for luring tens of thousands of students to take out private loan Genesis by advertising jobs prospects and career services.
Genesis becomes industry leader originating over $1 billion in loans.
Federal Judge orders Corinthian Colleges to pay $550 million to Consumer Financial Protection Bureau.
Consumer Financial Protection Bureau secures $480 million in debt relief for current and former Corinthian College students.
Educational Credit Management Corporation, a non-profit, takes ownership of more than half of Corinthian Colleges campuses, and also agrees to forgive student loan debt on Genesis loans after a series of years.
Students at Laramie’s Wyotech Technical School are eligible for a loan break from Genesis.
Report finds the agency that accredited defunct Corinthian Colleges ignored warning signs.
There are currently options available for Genesis loan forgiveness.
In cases of for-profit school closures: You may qualify for one of the private student loan forgiveness programs.
If you went to a for-profit college and took out a Genesis loan, you may qualify to have your loan invalidated.