People of the State of California v. Balboa Student Loan Trust
Frequently Asked Questions
If you are accessing this website you have received a letter from Zenith Education Group dated August 31, 2018 concerning the Notice of Transfer of Ownership of your Genesis private student loan(s) to Zenith Education Group. This notice is regarding your attendance at a Corinthian College school such as Everest, WyoTech or Heald. As stated in the letter, the identified loans have been discharged and cancelled in full. You do not owe any further payments towards these private loans. For questions, please see the FAQs below:
Q: I thought I paid my loan(s) in full?
A: If you received a letter, Balboa reported a remaining balance to Zenith Education Group, Inc. (Zenith). Any remaining balance on the Genesis loan referenced is being discharged in full.
Q: What was this loan for?
A: This Genesis private student loan was for your attendance at a Corinthian College school such as Everest, WyoTech or Heald.
Q: Why was my Genesis Private Student Loan discharged?
A: This relief is being provided pursuant to the stipulated judgment entered in the lawsuit of People of the State of California v. Balboa Student Loan Trust, Case No BC709870, Superior Court of Los Angeles County, California.
Q: Who is Balboa Student Loan Trust (BSLT)?
A: Your Genesis loan was previously held by BSLT and was transferred to Zenith June 30, 2018 for discharge. For questions regarding the transfer or questions regarding a refund that was issued by BSLT, contact BSLT at 866-290-4222.
Q: Who is University Accounting Service (UAS)?
A: Your Genesis loan may have been previously serviced by UAS prior to the transfer of the loans to Zenith on June 30, 2018 for discharge.
Q: Will this be reported to any consumer reporting agencies (i.e., credit bureaus) by Zenith Education Group?
A: No. Zenith will not report this loan(s) to any consumer reporting agencies/credit bureaus. If other entities related to this loan appear on your credit, please communicate directly with the other entity. You can obtain a free copy of your credit report once per year via the website www.annualcreditreport.com.
Q: Will there be tax implications for the write off of this loan(s) with the Internal Revenue Service (IRS)?
A: No. Zenith will not issue a 1099-C for discharge of indebtedness. Please contact a tax professional with further questions.
Q: Am I entitled to a refund of any payments previously made?
A: Zenith will not issue any refunds. This is a write off of the remaining balance of the loan(s).
Q: Will I receive my income tax refund back if it was previously taken (offset)?
A: This relates to your private student loans through the Genesis Private Student Loan Program. Private student loans are not eligible for the treasury offset program. For questions about an offset, contact the servicer of your federal student loans. If you need help identifying the servicer of your federal loan(s), please access www.nslds.ed.gov.
Q: Will this stop the Administrative Wage Garnishment (AWG) on my account?
A: If your wages are being garnished you should contact the servicer of your federal student loans. If you need help identifying the servicer of your federal loan(s) you may access www.nslds.ed.gov
Q: Will my federal student loans be discharged?
A: This discharge does NOT include your federal student loans. For questions about your federal loan(s) please contact your servicer or visit www.studentaid.gov/corinthian to review your options related to the borrower defense to repayment (BDR). For questions about BDR, call the hotline at 855-279-6207 or contact via email at FSAOperations@ed.gov.
If you have questions not addressed on this website for Zenith Education Group, please email GenesisQuestions@Zenith.org.