EL PASO, Texas - Vantage College abruptly closed for good on Thursday, leaving students unclear about their finances and future.
Matthew Salgado said when he found out about his school closing, he was excited he didn't have to go to school. But then Salgado said the reality of the situation hit him, he only had five months of school left.
"I just see this as not really a setback, but more of an opportunity with more doors open," Salgado.
The U.S. Department of Education told ABC 7 that students who were attending the school when it closed, or withdrew 120 days prior and didn't complete the program could be eligible for a "closed school discharge."
it said that would mean "a 100 percent discharge of the federal Direct Loans, Federal Family Education Loan (FFEL) Program loans, or Federal Perkins Loans the student took out to attend the closed school and a reimbursement of amounts they may have already paid to the government."
Education officials also said students who wish to continue their plan of study may "transfer into a comparable program," and have their course work evaluated for credit.
Vantage College put out a list of six new educational options for former students; one of them is Pima Medical Institute. Keever Jankovich is the El Paso campus director.
He said this is not the first time Pima Medical Institute has done a "teach out," taking students from institutions that had to close.
"Students are in a situation where they're now a little frantic because they were in a school, in a program, and now all of the sudden it's not there anymore," said Jankovich.
He told ABC 7 that Pima Medical Institute is working with Vantage College administrators to let students know their options, and ways they can help.
Salgado looked into his options, and is open to a change of course.
"They actually have some stuff that Vantage didn't offer, so I'm just seeing this as maybe a blessing," said Salgado.
If you were a Vantage College student and would like to attend an informational meeting at Pima Medical Institute, call 915-633-1133.
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