CLOSURE OF DANA COLLEGE
Options now available for private and federal loan forgiveness
FOR-PROFIT COLLEGE REJECTED WHEN REOPENING
Dana College is a currently defunct baccalaureate college located in Blair, Nebraska. The student body was taught by 45 professors and eight non-doctorate instructors, resulting in a favorable teacher-student ratio.
The institution faced economic troubles in the 2000s. In 2010 it was put up for sale to a group investors which formed the Dana Education Corporation. The group intended to transform the institution into a for-profit institution with a focus on “doubling enrollment, aggressively marketing the school and building Dana’s study abroad program”.
The change of control was not accepted by the Higher Learning Commission of the North Central Association of Colleges and Schools and the soon-to-be-owners forfeited the sale.The Dana Board of Regents decided not to continue operating the school, citing a multi-million dollar deficit.
Students who attended Dana Education have some serious complaints, some even going as far as to suggest their use of Predatory Lending Practices.
Some tech startups, like Goodbye Loans, work to assist students who’ve had a poor educational experience at non-profit and for-profit colleges alike 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 Dana College 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 current lending practices of colleges like Dana College, accused by students of predatory practices and facing increasing transparency.