Office of the Attorney General
Attorney General Conway Announces Approved Decker College Settlement
Attorney General Jack Conway today announced that the United States Bankruptcy Court has approved a settlement reached by his Office in the Decker College bankruptcy case.
The settlement, reached with the Trustee of the estate of the debtor, Decker College, Inc., drew high praise from Judge Thomas Fulton.
Judge Fulton said this “agreement was a great service to the Commonwealth," and he is pleased that the agreement “benefits students not just in Kentucky, but elsewhere.”
The agreement provides immediate relief in the form of loan forgiveness for approximately 2,200 students who had private student loans directly with Decker College. Students eligible for this loan forgiveness will receive a letter from the Office of the Attorney General within thirty days.
In addition, other students who are currently liable to other lending institutions may receive monetary relief to offset their loan debt if assets are recovered by the trustee and priority claims are paid. The settlement also helps 350 students who filed individual proofs of claim, formal documents to recover tuition costs.
Full details of the proposed agreement may be found by visiting www.ag.ky.gov/decker. The Office of the Attorney General has set up an automated hotline for Decker students who wish to provide an updated address for future notices. The toll free number is 1-866-545-9974.