cancel
Showing results for 
Search instead for 
Did you mean: 

Help Should I Pay It Back Or Not!

tag
Agent_Zero
New Contributor

Help Should I Pay It Back Or Not!

So I went to this college for three semesters. The only reason I went is because I was told I would be on a full ride scholarship and I would get to live on campus. So I go to register and they made me sign some papers and I was good to go, even though I didn't get to live on campus because I was a local. But anyway everything was good for the first semester, second semester I failed one class BUT I tried to drop the class multiple never got any help. So I was told if I took summer classes I would be ok. I took two summer classes at a community college and thought I could just transfer my credits over. Once I finished my summer classes I got a letter in the mail that basically said I was not a current student at the school anymore, good luck with life, and by the way you owe us 5,500 dollars. How is this possible I thought I was on a full scholarship.



Recovering from a irresponsible au.

***-Gardening-***
10/10/13-4/10/13

If it won't for myfico my only card would be my debt it card.
Message 1 of 4
3 REPLIES 3
SCF
Valued Contributor

Re: Help Should I Pay It Back Or Not!

It sounds like you may have had some bad communication with your advisor and the financial aid office at your school.

 

I would start by getting together all the paperwork you were given when you enrolled.  Those papers should show the cost of attendance, the value of your scholarship and the requirements for keeping it (many of them have GPA and enrollment level requirements that you have to meet).  Get a sense of what happened vs. what you were told.  Did you meet the requirements?  Who told you that it would be OK to take the classes at the community college to make up, document that.

 

Then, go to the college and get their side of events.  Figure out why exactly they took the scholarship back, how they arrived at the figure and see if you can come to an understanding.  You probably needed to be a lot more proactive about this situation when it was happening, but that's done.  Going forward, document everything, make sure you understand what is going on and what is expected of you.

 

If you explain to the school that you didn't understand, maybe they will be willing to work with you.

Message 2 of 4
Agent_Zero
New Contributor

Re: Help Should I Pay It Back Or Not!

Thank you that is the best advice I have received yet. I will go over there Thursday. I am really hoping for the best.



Recovering from a irresponsible au.

***-Gardening-***
10/10/13-4/10/13

If it won't for myfico my only card would be my debt it card.
Message 3 of 4
bahbahd
Established Contributor

Re: Help Should I Pay It Back Or Not!

Call up the loan servicing agency, school, or whoever is sending you statements right now. Are you still in school at a new institution?  You need to confirm they know you are in school and enrolled right now. Or, if you are not, you need to send in the forms to have the loans put into deferment or forbearance immediately.  You do not want to start accruing late payment remarks on any loan accounts.  Act on this immediately. 

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.