Some Silver State Students Still on the Hook

 - February 5, 2013, 1:10 AM

Many, but not all, former Silver State Helicopter students have had their student loans forgiven in the wake of the 2008 bankruptcy and liquidation of what was then the largest civil helicopter school in the U.S. However, Cleveland-based KeyBank did not offer loan forgiveness, prompting 100 former students to sue, charging that the bank knew of Silver State’s precarious financial condition when it offered them high-interest-rate loans of up to $70,000 to attend the school. Arguments in the case were heard late last year by the Ninth Circuit U.S. Court of Appeals, which had previously directed the case to arbitration. A ruling is expected later this year.

Comments

Daniel's picture

I noticed that your story said that Most of the Students loans were forgiven. That is not the case. The class action lawsuit said that students paid back based on how many ratings they received. My loan was the AES Success or Citibank and I know that me and many of the other people I went to school with are paying. Unless you know something I don't. I did not finish the program, but still have to pay almost the full amount with interest.

Show comments (1)