Important Information Regarding Regency Beauty Institute
On this page, you will find information related to the recent closure of Regency Beauty Institute (Regency). Featured below is information on how former Regency students can continue their education, apply for closed school loan discharges, retrieve student records, and more.
Closure of Regency Beauty Institutes
On Sept. 28, 2016, officials representing Regency notified ED and the postsecondary education oversight bodies in the 19 states where they have operating locations that they intended to immediately cease operations and instruction at all 79 Regency locations across the country. As a result of Regency’s closure announcement, all Regency Beauty Institutes will lose their eligibility to receive federal student aid funds from ED.
If you were attending Regency when it announced its closure on Sept. 28, 2016, or if you withdrew from Regency on or after May 31, 2016, you have two primary options:
Apply for a closed school loan discharge.
- Transfer earned credits to another institution to continue your education in a comparable program.
Closed School Loan Discharge
If you attended a Regency school that closed while you were attending or soon after you withdrew, and you did not complete your program of study, you may be eligible for a closed school discharge. A closed school discharge is a 100 percent discharge of the federal Direct Loans, Federal Family Education Loan (FFEL) Program loans, or Federal Perkins Loans you took out to attend the closed school and a reimbursement of amounts you have already paid to the government.
To apply for loan forgiveness through a closed school discharge, you can either
- complete and return the Closed School Loan Discharge Application sent to you by your servicer or complete this Closed School Loan Discharge Application and return it to your loan servicer, or
- contact your loan servicer about the application process for getting your loan discharged.
Note: Your Closed School Loan Discharge Application must be sent to your loan servicer. To find out who your loan servicer is, log in to My Federal Student Aid or call 1-800-4-FED-AID (1-800-433-3243; TTY for the hearing impaired 1-800-730-8913).
Read our overview of the closed school loan discharge process for more information about the process and eligibility.
Students impacted by these closures may also be eligible for State Tuition Recovery Fund refunds. To learn more, find and contact your applicable state postsecondary education agency (listed on Regency’s “teach-out” page).
We encourage you to avoid paying companies for student loan consolidation or forgiveness services that your federal loan servicer provides on behalf of ED for free. Read our blog post on your rights and options as a borrower.
Instead of applying for a closed school loan discharge, you may wish to keep the credits or hours you’ve earned from Regency and transfer those credits or hours to another school with a comparable program. If you do transfer into a comparable program offered by another school, that school will evaluate your Regency course work and will decide whether to give you credit for the work already completed, as well as what courses you need to take to complete your program of study.
ED is working with Regency officials, as well as representatives from the state licensing and postsecondary education oversight bodies, to process student records from the 79 impacted schools as soon as possible so that transfer schools can start assessing students’ remaining eligibility for federal student aid funds.
Regency will be held responsible for any return of federal student aid funds which were due to students and had been received, but not earned, prior to closure. ED will work with Regency officials to make sure unearned student Pell Grant and loan funds are restored for future eligibility.
Find information about how to obtain your student records and transcript; and find out about licensed institutions with similar programs in your area.
You may also want to use ED’s College Scorecard to explore your transfer options and find the program that’s right for you.
Note: Neither ED nor your requisite state agency have confirmed that referred institutions will accept Regency credits or hours as part of any transfer. Students interested in any of the programs listed should contact the institution to determine whether they can transfer their credits or hours.
Again, if you transfer the credits or hours you’ve earned at Regency toward a comparable program at another school and you complete or are in the process of completing that program, you will not be eligible to receive a closed school loan discharge.
Where to Find More Information
We want you to get the help you need to understand your options.
We have crafted state-specific fact sheets which contain information and resources for displaced Regency students within that state.
A prerecorded version of one of the eight webinars produced during October 2016 to support Regency students can be accessed via this link: https://fsatraining.acms.com/p83disjqf8d/. Students can also download a transcript of this webinar.
For help in understanding the information presented above, contact the Federal Student Aid Information Center at 1-800-4-FED-AID.