Outstanding SL balance preventing graduation

[Anonymous]

Hello Everyone,

First post here however I’ve been reading the rebuilding section everyday working on my own rebuild.

Has anyone successfully worked out payment options for outstanding student loan debt (Perkins and university loan) for 11k to re-enroll at their university?

Long story short, I need to receive my degree from my university as soon as possible, in this case May 2016, for job opportunities. To receive my degree however, I have to ‘re-enroll’ to the university and petition to graduate because I stopped attended four years ago.

The issue is that I defaulted on a university loan and Perkins loan totaling 11k. The university loan is now with William and Fudge. The loan officer at my university said that even if I made a payment arrangement with the CA, that would not allow me to ‘re-enroll’ (though I technically don’t need to take any further undergrad courses) for graduation-- university policy mandates the outstanding balance to be paid in full.

I have exceeded all of the graduation requirements for a major/minor combination; I literally just need the diploma to be issued by the university.

Any advice on what I should say to William and Fudge when I call them? Also about the perkins loan?

Any suggestions are welcome! Thanks for reading.

[Anonymous]

Update:

Perkins taken off via consolidation so that leaves one Private University Loan for 8k.

Associate at William and Fudge said they won't remove hold until balance paid to 0.

Have not even explored if they will delete from CRs.

[Luscher]

Only think I can think of is taking out a private student loan to pay off that loan. I hate private loans but can't really think of anything else. Hopefully SCF comes in here and gives you some more solid advice

[stellar]

You may be able to get the job by explaining that you completed the coursework but have an issue w the debt.  Show them your transcript.

[SCF]

This isn't really a student loan issue so much as a university policy issue.  If the university says that you have to have a $0 balance, then you either have to follow their rules or find someone willing to make an exception for you.  Have you tried offering a settlement of less than the full amount, or borrowing the funds from somewhere else?  Maybe make an appeal to the college president?