Reply
Regular Contributor
Posts: 203
Registered: ‎07-20-2012
0

Student Loan Help!

I received a student loan 10 years ago, went to college for merely 1 year. Dropped classes at end of year, left college, then 7 years later taxes were deducted to cover student loan balance. All good, because I never made one payment, although my CR reflects good standing account. Fast forward to now, attempted to go back to college to obtain degree, admitted to school, given i.d. card, etc, but while attempting to register my account reflected a balance from 10 years ago. School said I had to pay before  I could register or even get any other student loans/grants. I don't have 2300 to pay them. Has anyone else experienced this and/or was able to go around apparently owing money to school, and still register there or another school, and receive student loans or financial aid???

 

Thanks!

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012

Regular Contributor
Posts: 171
Registered: ‎06-15-2012
0

Re: Student Loan Help!

If the debt was to the school itself, then you would of course be able to go to another school. But the same school? You're probably going to have to figure out a way to settle that debt before you can go back.

 

Think of it like a credit card - there are lenders out there that will blacklist you if your burn them. Amex is one. If I'm a University, and you have owed me money for a decade, I have every right to want that money if you intend to re-enroll.



Valued Member
Posts: 68
Registered: ‎09-10-2012
0

Re: Student Loan Help!


InvincibleSummer2 wrote:

If the debt was to the school itself, then you would of course be able to go to another school. But the same school? You're probably going to have to figure out a way to settle that debt before you can go back.

 

Think of it like a credit card - there are lenders out there that will blacklist you if your burn them. Amex is one. If I'm a University, and you have owed me money for a decade, I have every right to want that money if you intend to re-enroll.


I wonder if the state SOL would apply....but yes the school can still blacklist the person. I know the university I attended was doing this. The unfortunate thing for them was, they forgot about the 6 month grace period for loans. So in my case when the credit agency called, I explained the situation and he said, he would call back in 6 months. I than said, but I will ask for my forbearance than.....he laughed and said in Yoda language, "PFD I will accept"! 

You can wrap me in your flag, make me say a praise to your creator and make me spend your currency, but remember this, I am a loyal servant to Justice and a Patriot to none. I am free...
Community Leader<br> Valued Contributor</br>
Community Leader
Valued Contributor
Posts: 1,321
Registered: ‎06-09-2008
0

Re: Student Loan Help!

Do you have documentation for the loan you received 10 years ago?  Are you sure it was paid off entirely by the tax offset, AND that you didn't receive any other loans?  You can get one loan per semester, per type.  So if you were getting Perkins and Staffords, 1 year of college could result in 4 tradelines.

 

Have you checked the National Student Loan Data System?  That will show you all the loans you took out, what has been paid back, and what you currently owe.

Regular Contributor
Posts: 129
Registered: ‎01-09-2012
0

Re: Student Loan Help!

Did you complete all your classes or did you drop in the middle of a semester? I dropped from a few classes in the middle of the semester and had to pay ~$1500 before I could go back to class because the grant/loan money had to be partially returned since I dripped/didn't qualify for it anymore. The nslds should have that info. in that case you would still have to pay the school to go back even if the loan had been paid.
In My Wallet: Amazon (5/2011) $2200 -- CareCredit (9/11) $4200 -- Capital One Green Cash Rewards (01/12) $3000 -- Citi Forward (1/12) $2500 -- Walmart Store Card (1/12) $1100 -- Maurices (8/12) $200

Starting Score: EX 567 9/13/2010
Current Score: EX(FAKO) 639 EQ(FAKO) 628 TU(FAKO) 662 11/13/2012
Goal Score: 750
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.