In April, 2015 the National Association of Student Financial Aid Administrators (NASFAA) joined a collaboration to assist students whose college or career school closed while they were attending or shortly after they withdrew. This collaboration, a response to the closure of Corinthian College, received hundreds of student inquiries in the first 24-hours. The Department of Education (ED) has provided some guidance for displaced students, many of whom may qualify for federal loan discharge, a large gap in financial aid knowledge remains for this population. As a mission-driven organization, NASFAA welcomed the opportunity to participate in helping these students understand their financial aid options. NASFAA members--financial aid administrators--are glad to provide knowledge and service to the students who were impacted by these school closures, with the hope that given the right guidance, they will continue their educational careers. To address the issues outlined above, NASFAA commissioned a paper examining current federal student loan provisions for students whose college or career schools closed while they were attending or shortly after they withdrew. Based on this research seven recommendations are detailed throughout the report. These recommendations underscore the importance of policies that balance the interests of students, institutions, and taxpayers in the event of school closings. Loan discharge provisions must preserve the goal of educational opportunity that is fundamental to the loan program, while at the same time enforcing borrower responsibility and avoiding excessive costs to taxpayers.