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Need Your Advice

Date: Wed, 12/17/2008 - 17:25

Submitted by tsixtial
on Wed, 12/17/2008 - 17:25

Posts: 4 Credits: [Donate]

Total Replies: 7

Need Your Advice


Hello Everyone,

I am frustrated and stressed out because of my situation i am sure everyone here is as well. First let me say thank you for taking the time reading my post.

I took a student loan about 2-3 years ago. I took some time off at the university and continued to go to a Junior College. And from my understanding I do not have the make payments as long as i am in school. Well this spring of 2008, i was taking classes but dropped them. Cause of some personal reasons but i continued to go to summer school. I did not get any type of notice from the loan company stating that I was going to have to start repaying the loan starting from June. Until i got an automated phone from the loan company stating i was 2 months delinquent... I was in shock so i went ahead and paid the monthly balance (I am 99% on time with my payments). They said I was reported to the credit company and so i checked my credit and it was hit 120 points. But here is the problem i was attending summer school form May-August, so there should be no reason for me to make the payments correct? I got a school verification for stating i was taking classes between may-august. It stated that 6 units or more is considered full time during the summer and i took a 3 unit class which makes me part time. The loan company states the verification has to state half time, but isnt that half time? Since i am taking half the amount of units from full time? So they are not accepting the verification and taking off the delinquent payment on my credit report. I asked my school if they can write me another letter but they are closed. Should i get an attorney and sue them? Because i am ready to go at it.


When you switched schools, did you take more financial aid? If not, talk to the community college FA office about deferments for your current loans? Not all schools participate in the clearing house deferement exchange and it becomes the students responsibility to file in school paperwork each quarter/semester. You will need to wait to get another letter from the CC to file with your lender.

You have no grounds for a suit...the lender has done nothing wrong.


lrhall41

Submitted by SOAPLADY on Thu, 12/18/2008 - 06:39

( Posts: 17315 | Credits: )


No i did not take more financial aid. The loan company did send me papers every so often asking what school i am atending and what i am on planning on graduating. I always filled those out and sent them back to the loan company. I just want my credit fixed, i can go ahead and pay the monthly but i just want credit fixed thats it.


lrhall41

Submitted by tsixtial on Thu, 12/18/2008 - 09:10

( Posts: 4 | Credits: )


I made that mistake years ago, transferred schools and my federal loan ended up defaulting because Sallie Mae didn't know i was still in school (I paid the tuition at the new school out of my own pocket). I just assumed Sallie Mae knew I was in school, yet lo and behold, I defaulted.


lrhall41

Submitted by drjonah on Thu, 12/18/2008 - 15:45

( Posts: 244 | Credits: )