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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

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My school closed while I was enrolled and now I can’t graduate. What happens to my federal student loans?

Answer:

If you have federal student loans and are currently enrolled or recently left a college or university that has shut its doors, you may be able to discharge (cancel) your loans if you apply for a loan discharge .

This option is only a possibility if your school closes. If you are attending a school that is sold, you may not be eligible to ask for a discharge under this process, even if your school no longer offers your program of study. 

If you do have your federal loans discharged and you end up transferring credits to a similar program, you may have to pay back the loans that were discharged. 

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