WISCONSIN — There is a lot of hard work and money that goes into earning a degree. But, what do you do if your college or university shuts its doors for good before you have finished your program?
There is a lot of uncertainty about how the COVID-19 pandemic will affect colleges and universities. While most expect to weather the storm, some will be closing their doors permanently. If you have not completed your degree, here are a few things that you might want to do to avoid losing money and credits.
If possible, contact the school and ask about teach-out agreements that they may offer with other schools who will accept credits and assist you in completing your degree.
Get multiple certified copies of your transcript, and keep copies of syllabi and coursework. These could be very helpful in convincing a new school to accept previous coursework for credit.
Get as much information as possible about where your records can be located once the school has closed. You might also want to check into having federal student loans forgiven. However, make sure to check into tax and other consequences of loan forgiveness.
For more information about school closings and federal student loans, contact the US Department of Educationhere.