Now that I think about it further, you may not have to pay that loan back at all. The William D. Ford loans stipulations specifically say that you may be eligible for discharge/cancellation if your school closed in the process of you completing a program of study.
Here is the exception made by the William D. Ford Federal Direct Loan Program
Direct Subsidized Loan and Direct Unsubsidized Loan Borrower’s Rights and Responsibilities Statement:
21. Discharge (having your loan forgiven). We will discharge (forgive) your loan if:
You die. The Direct Loan Servicing Center must receive acceptable documentation of your death, as defined in the Act.
Your loan is discharged in bankruptcy. However, federal student loans are not automatically discharged if you file for bankruptcy. In order to have your loan discharged in bankruptcy, you must prove to the bankruptcy court that repaying the loan would cause undue hardship.
You become totally and permanently disabled (as defined in the Act) and meet certain other requirements.
In certain cases, we may also discharge all or a portion of your loan if:
You could not complete a program of study because the school closed;
Your loan eligibility was falsely certified by the school;
A loan in your name was falsely certified as a result of a crime of identity theft; or
The school did not pay a refund of your loan money that it was required to pay under federal regulations."
So if you have a federal loan and you were made to stop going to school BECAUSE the school closed, this would apply. Visit studentloans.gov for more info.
However, if you have private loans, the rights may be different. Read your promissory note!!