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Student Loans...now I owe my school money! HELP!!?

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Student Loans...now I owe my school money! HELP!!?

Postby burney » Wed Mar 23, 2011 12:47 pm

Last semester I had to medically resign (still in the process) due to some medical issues. So this semester I decided to go to school part time. (6 hours) I pay for school through loans, I ended up having to drop my Cal II class because it was to hard, now my school is saying I owe them $18,000 in loans, no grace period I owe them that. I really don't know what to do. I call the financial aide office and they can't help me either. Please advice..I want to finish my degree but at this rate I can't its going to screw up my credit and my parents!
burney
 
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Student Loans...now I owe my school money! HELP!!?

Postby gann » Wed Mar 23, 2011 12:54 pm

Some details are missing here. What is the $18,000 for? If you're not sure, call them up and ask. Is it for last semester, which you are still working out with them? Or it's for this semester? If you had federal student loans, why would you owe the school?

Can you find a cheaper school? In my area we have public 4 year universities that are good quality, but tuition runs less than $8k per year. Even with room & board, you can get out for less than $20k a year full time. Plus we have public 2 year colleges, where you can actually complete the first two years for half the cost, and be guaranteed a transfer to one of the 4 year schools of your choice. Good luck!
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Student Loans...now I owe my school money! HELP!!?

Postby mael » Wed Mar 23, 2011 1:02 pm

colleges.mywebcommunity.org - it provides some tips about applying to US federal and state grants for college students.
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Student Loans...now I owe my school money! HELP!!?

Postby honiahaka » Wed Mar 23, 2011 1:03 pm

oh wow, DMS, I'm sorry to hear that you are in this position. If you had resigned by the date given by the school then the school wouldn't have charged you for tuition the same thing would apply to the cal II class. Unfortunately, that debt is owed and I don't think there is much the school can do. The loan may be put in forbearance if you are still in school or you have a medical reason, but you have to check with the loaner to see if they allow that.Besides forbearance seems like you'll have to start paying the debt little by little. I don't think you would be able to change to another school either since you have such high debt.
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