Students,
As you may know, AI Seattle is at risk of closure. According to the U.S. Department of Education, the school may run out of funds to continue operations. This email is intended to provide information about AI Seattle’s current status and resources for AI Seattle students.
There are two options for AI Seattle at this point: a buyer could acquire AI Seattle and continue operations, or the school could close.
What this means for students
· Option 1: If a buyer acquires AI Seattle and meets Washington’s requirements
The school could continue offering its current programs and students could continue their studies without interruption.
· Option 2: If a buyer does not acquire AI Seattle
The school will close. Depending on its finances, the school could close at the end of winter 2019 term or it could close before the term ends.
Teach-out and transfer options in the event of closure
· Teach-Out. A teach-out would allow you to finish your remaining AI Seattle degree requirements at another school. If you participate in a teach-out, it’s likely that your degree would still come from AI Seattle. This option may not be available for all students or all AI Seattle degree programs.
· Transfer. This option would allow you to transfer some or all of your AI Seattle credits to schools that accept them. If you transfer, your degree would come from the school you transfer to.
Student Loan Discharge
If AI Seattle closes, you have the option to apply for a discharge of your AI Seattle student loans under the U.S. Department of Education’sclosed school discharge program. However, there is an important trade-off you need to consider. If you have your loans discharged, you cannot transfer your AI Seattle credits to a comparable program at another school or participate in a teach-out.
Some factors to consider when making this decision:
· How many credits have you received at AI Seattle?
· How many of your credits would transfer to another school?
· What is your current student loan debt?
· How much more time and money will it take to finish your program at another school (transfer) or in a teach-out?
The Washington Student Achievement Council (WSAC) is partnering with other schools and organizations to provide resources to help you make an informed decision. You can find more information about closed school discharge below.
Resources for students in the event of closure
· Information Fairs
Information Fairs will be held at the AI Seattle campus, 2323 Elliott Avenue, on:
Tuesday, March 12, 3-6pm; and
Wednesday, March 13, 10am–1pm
At these information fairs, AI Seattle students can meet with admissions representatives from schools offering teach-out or transfer opportunities. WSAC will also provide information about the U.S. Department of Education’s (ED)closed school discharge program.
· Student Loans
Student loans for the current term. If AI Seattle closes before the end of the term, the U.S. Department of Education has stated it will discharge all federal student loans for this term. This includes a discharge of tuition and fee payments as well as the loan stipends that you haven’t received.
Closed school discharge. To discharge your loans, request an application from yourstudent loan servicer. For help with the application for closed school discharge, or to report a problem or complaint about your student loan servicer, contact WSAC’s Student Loan Advocate atloanadvocate@wsac.wa.gov or toll-free at 833-881-0397.
VA education benefits for the current term. Students receiving education benefits from the U.S. Department of Veterans Affairs (VA) may be eligible for restoration of entitlement. Find information and instructions for requesting restoration of VA Education benefits onthis form.
· Transcripts
You can get a free official copy of your academic transcript at the information fairs on March 12 and 13. Students who can’t attend the information fairs can get one free transcript copy at AI Seattle’s Registrar office during March 14 – 22.
The Washington Student Achievement Council (WSAC) will inform you via email of any changes in AI Seattle’s status. We will also let you know of any changes or additions to scheduled events. We are updatingour website regularly with the most current information.