Starting this month, students with government-guaranteed education loans will not have to repay them if the school closes. Any interest or payments already made by the students after closing also will be refunded.

The Federal Family Education Loan Program changed its loan-forgiveness program to comply with rules put into effect by the Education Department July 1.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.