Student loan troubles?

Discussion in 'Random Ramblings' started by mylittlechickpea, Dec 8, 2011.

  1. mylittlechickpea

    mylittlechickpea Chillin' With My Peeps

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    May 2, 2010
    Honolulu, Hawaii
    I took out a student loan this year, for the first time. As far as I know, I have signed everything required of me. The majority of my money has come in, but the last of the larger payments has not.

    I am attending a private college and am almost done with it. I have one week left of classes, and start my externship after the winter break. However, if my money does not come in, I will not be allowed to attend my externship. Therefor, I can't actually finish the school, and get my diploma. This is per the rules of the school, and I understand this.

    But what I do not understand is where my money is? I spoke with the financial aid guy at the school and he seems to be giving me the run-around. He is telling me I need my 1040 for the 2010 taxes in order to receive the last of the money, but shouldn't it have come in with the other payment? I heard him telling one of the ladies on the phone "I didn't set that up" when she inquired into this as well, meaning (in my mind, at least) that he has the authority to request the money.

    I took out both a subsidized and an unsubsidized direct student loan. The full amount of the subsidized loan has been payed to the school, but only half the unsubsidized. I thought they should have come together?

    I have a week to figure this out, and I just don't see it happening. I am so upset about this I think I'm getting an ulcer, and I want yank every piece of hair out of my head. I'm not angry with this guy, yet, but I sure am getting there.

    Does anyone have clue, or has this happened to you?


    ETA:

    The school is a condensed course for medical assistant. I've been going to school full time since March. I haven't worked for two years, because the job market out here is terrible. My extern site is at the big army hospital, I'm pretty jazzed about it. I have to jump through all the hoops and get a background check to volunteer there, and so I was hoping it would be easier to try and get a job there when I was finished. So I'm really bummed out if I can't get this finished because I feel like someone is holding my loan for ransom. [​IMG]
     
    Last edited: Dec 8, 2011
  2. bargain

    bargain Love God, Hubby & farm Premium Member

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    Apr 13, 2008
    Bowdon, GA
    Hi, I haven't had a student loan before but here are a few tidbits of iinfo that might be helpful

    There might be an ombudsman program for student loans... for help with problems with your lender.If you live in Minnesota or need help resolving a dispute with your student loan lender, or if you think the lender is violating your legal rights call the Student Loan Ombudsman at: 1 (877) 557-2575. This info came from Legal Assistance of Mn. (It may be that this phone number can give you help in other states.

    You might need to see if there is a Legal Assistance Program in your state that can help you... Hope that this helps you... Nancy
     
  3. Elphaba2140

    Elphaba2140 Chillin' With My Peeps

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    Mar 20, 2010
    Northern Illinois
    Hi mylittlepeachick! I just had to add my two cents. I am a student and I have had nothing but trouble with my loans. I have never been in your exact situation but it sounds frustrating. I hope it gets resolved soon!
    I have been fighting with my financial adviser for 5 weeks now. It seems that I had reached my loan limit but he didn't bother to tell me (nor did anyone else from school). So when I got my bill I ignored it as usual since the bills and payments eventually got together and everything had been fine for the last 4 years. So I start my class 6 weeks ago and I was suddenly withdrawn from class (not self initiated). I tried for days to reach anyone at school. Find out the next week that I needed to secure more money (a private loan if I could) to continue. It has taken me the entire time to get a loan and finally decided to break out my retirement funds and use them. Got the transfer to my IRA yesterday and called school today on my lunch hour. No one called me back. I called when I got home and finally got a hold of the finance councilor. Payed up my current debt and I am scheduled to be reinstated by Monday when the next class ends. Whew!

    Hoping yours goes much more smoothly.


    Message me if you have any questions about loans and I will try to help you.
     

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