Loans Forgiven for Students of For-Profit Spencerian College

Attorney General Andy Beshear announced on Friday, January 4, 2019 a consumer protection settlement benefiting nearly 700 students in Kentucky and Southern Indiana who attended one of the state’s for-profit colleges, Spencerian. The case was originally filed by the office of the Attorney General in 2013, alleging the institution misrepresented graduate employment success. Under the terms of the settlement, Sullivan University, which owned Spencerian, has agreed to forgive more than $1.7 million in private loan debt, and provide other benefits to 668 students who attended the school and received an institutional student loan between January 1, 2007 through December 31, 2011. The nearly 700 students who received Career Educational Fund loans to attend Spencerian had the balance of their loans forgiven as of September 21, 2018. Spencerian had campuses in Louisville and Lexington, but following a merger in June 2018, the Lexington campus closed and the Louisville campus now operates as part of Sullivan University. Spencerian College ceased enrolling students on June 22, 2018.

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