As you probably know by now, Regency Beauty Institute has permanently closed their doors. This unexpected announcement has left thousands of students in limbo, unsure of whether or not they will have to restart their education, or earn any credits for the classes they have attended this semester.
On a positive note, when a for-profit college closes suddenly like this, former students may be entitled to student loan forgiveness. This applies to all former students, not just those that were in attendance when the closure came to fruition. If you have any student loans from Regency Beauty Institute, we highly advise you call us to see how we can help. To see if you qualify and learn what steps to take next, give us a call at (844) 324-2801 or complete the 2 step qualifying form down below.
"This was the best thing I ever did for my credit."
$57,240 in Student Loans Forgiven
"I got the bulk of my college debt resolved and feel like I can breathe now."
$18,300 in Student Loans Forgiven
"I couldn't believe how much help was available for people in my situation."
$233,140 in Student Loans Forgiven
"I can finally relax about all my student loans hurting my credit."
$22,720 in College Debt Forgiven
Through 2010, Regency required their admissions employees to work 45-55 hours per week, sometimes more, in order to meet constantly increasing recruitment goals. Regency avoided paying overtime compensation to these employees by misclassifying them as salaried employees.
On February 18, Madia Law filed a class and collective action lawsuit in federal court against Regency Beauty Institute (a national for-profit cosmetology school) on behalf of employees in Regency’s admissions department who were: (1) initially misclassified as “salaried” employees, (2) were not paid for time worked over forty hours during the misclassification period, and (3) after they were properly classified as “hourly” employees, were required to work off the clock so Regency could avoid paying them overtime wages.
Regency Beauty Institute abruptly closes all of their campuses permanently on September 29. The school cited multiple reasons for closing, including declining numbers of cosmetology students nationwide and a growing negative characterization of for-profit education.