Flight-School Students Gain Financial Relief (Deseret News)
"Would-be helicopter pilots who found themselves responsible for student loans but with no license after their flight school was grounded by bankruptcy 20 months ago got some financial relief Tuesday," the Deseret News reports. "Student Loan Xpress, in an agreement with Utah and 11 other states, will forgive a total of $112.8 million in private educational loans it arranged for students to attend classes at Nevada-based Silver State Helicopters. Most students will be forgiven 75 percent of their loan totals. The remaining students will receive a percentage of loan forgiveness, depending on how much training they completed. Students will be required to make payments on any remaining loan balance."
You can read the complete Oct. 28, 2009 Deseret News article on-line.
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