Who regulates colleges that receive federal $?

[westerngirl]

Does anybody here know who regulates schools/ colleges if they accept federal student loans for payment?

 

I've been fighting a collection on my credit reports from a college I attended and they received student loan money to pay for it. I do not owe them a dime! The collection is now out of sol. I'd like to find out who regulates schools so I can file a complaint and use this as leverage to getting this account removed off my reports.

 

Anybody also have ideas of how to get this deleted from my credit reports?

[TxQuiltGirl]

Does anybody here know who regulates schools/ colleges if they accept federal student loans for payment?

 

I've been fighting a collection on my credit reports from a college I attended and they received student loan money to pay for it. I do not owe them a dime! The collection is now out of sol. I'd like to find out who regulates schools so I can file a complaint and use this as leverage to getting this account removed off my reports.

 

Anybody also have ideas of how to get this deleted from my credit reports?

 

 

 

Uhhhhhhhhhhhhh ....

 

You took out a student loan to pay for the tuition? And now someone is trying to collect for the student loan?

 

If this is a public school, there IS not SOL for collection of a debt. If this is a student loan, you are playing with fire. But before anyone can give you advice, we need clarification.

[LynnInMN]

There is no SOL for public or non profit schools. Also, complaining to who authorizes loans will give you absolutely no leverage with the school.

 

Have you looked at you student account or asked them what the debt is for?? Frequently loans and grants do not cover the entire cost of tuition...it could be fees, dorm or library charges. Did you drop a course and loose some of your aid??

[westerngirl]

Yes, that is correct!

 

Why are they trying to collect when the school received my financial aid for the tuition? When I left the school, I received a statement shortly after, stating I had a zero balance and the loan covered it all. Why would I be playing with fire if they were paid in full? What they are doinf is illegal, right?

 

(quote name='TxQuiltGirl' date='May 2 2006, 01:16 PM' post='1470473']

Uhhhhhhhhhhhhh ....

 

You took out a student loan to pay for the tuition? And now someone is trying to collect for the student loan?

 

If this is a public school, there IS not SOL for collection of a debt. If this is a student loan, you are playing with fire. But before anyone can give you advice, we need clarification.

[LynnInMN]

It could be a Perkins loan...the school is responsible for collecting those. You need to call.

[TxQuiltGirl]

Yes, that is correct!

 

Why are they trying to collect when the school received my financial aid for the tuition? When I left the school, I received a statement shortly after, stating I had a zero balance and the loan covered it all. Why would I be playing with fire if they were paid in full? What they are doinf is illegal, right?

 

Uhhhhhhhhhhhhh ....

 

You took out a student loan to pay for the tuition? And now someone is trying to collect for the student loan?

 

If this is a public school, there IS not SOL for collection of a debt. If this is a student loan, you are playing with fire. But before anyone can give you advice, we need clarification.

 

 

You DO realize that you have to pay loans back, right? If this is a loan, you have to pay it back.

[westerngirl]

Yes I did review all my documents. Heck, when I received the 1 and only collection notice back then, I immediately called the school and asked them what was up. I spoke to the director at the time and she said she didn't understand why when my account showed a zero balance. Since then, the school changed ownership and has new staff. I went back to my notes and spoke to this person back then. Per our conversation, she said she would call collection agency and remove it. Hmmm....

 

Also, this is a private school, not a public college and they do not have housing on campus.

 

There is no SOL for public or non profit schools. Also, complaining to who authorizes loans will give you absolutely no leverage with the school.

 

Have you looked at you student account or asked them what the debt is for?? Frequently loans and grants do not cover the entire cost of tuition...it could be fees, dorm or library charges. Did you drop a course and loose some of your aid??

[westerngirl]

This wasn't a Perkins loan. It was paid via a Pell Grant along with my federal subsidized and unsubsidized loans.

 

It could be a Perkins loan...the school is responsible for collecting those. You need to call.

[westerngirl]

Yes, I realize I do owe the student loans; however, this school is trying to collect one nothing I owe THEM... My student loans covered all of it when I left....

 

You DO realize that you have to pay loans back, right? If this is a loan, you have to pay it back.

[TxQuiltGirl]

This wasn't a Perkins loan. It was paid via a Pell Grant along with my federal subsidized and unsubsidized loans.

 

It could be a Perkins loan...the school is responsible for collecting those. You need to call.

 

 

And have you paid those federal loans back?

[westerngirl]

The student loans have been in deferment since then because I attended a public college and recently graduated. I start repayments next month.

 

The school was paid in full when I left and stopped attending there..

 

And have you paid those federal loans back?

[westerngirl]

Bumping for night crew;)

[marcnkc]

The school was paid in full when I left and stopped attending there..

 

Did you leave the school in the middle of a term? If so, then the remaining portion of your financial aid was probably returned to the lender which means that you owe the school instead.

 

Your school should be able to provide a ledger showing what amount was credited to your account and what (if any) was returned to the lender.

[LynnInMN]

Bumping for night crew;)

 

 

What night crew???

 

Have you called the school yet???

[TxQuiltGirl]

We ARE the night crew.