Zero Balance Load/Grant

[Minolwen]

I've read a few things but am short on time today, so in an effort to just throw this question out there in hopes of someone having a quick solution, here it is.

 

I have an account on my credit report that is due to come off 11/2011 (According to TU). The account is with the Department of Education. A few years back I had a Pell Grant to go to college and went through all the processes that was necessary as far as getting tuition taken care of and books paid for. There was a remaining balance of $129.00.

 

A few months after the start of school, I received a bill for $129. Unsure of why I was being billed at the time I took some time to investigate, in which time, another bill arrived for the same amount. Well, not wanting it to go any further, I paid the $129 then before it ever went to collections.

 

Now on my credit report shows the following:

 

Account: Department of Education

Account Type: Installment

Original Amount: $129.00

Recent Balance: $0.00

 

Now as I type this I have to wonder if this is actually on there as a good mark? An installment for $129 (which was really just a remaining balance after the grant money was spent on school), that is now paid with a $0 balance.

 

Any assistance with this matter would be appreciated.

[aluminumfalcon]

A grant, or even a paid billing, should not report to CRAs.

 

Since it is showing as an installment with the DOE, check the NSLDS (National Student Loan Data System) to see if there is indeed some sort of loan listed for that amount. If not, write the DOE for information regarding the reporting.

 

Just make sure you clarify exactly what the item is and why they are reporting it. Questions to ask, were there two billings with only one paid? Was the account sent to collections in error? Is it simply being reported in error? Did you agree to any loans in the FA package, because this installment account of $129 and the 129 you received a bill for could be unrelated. This is what you want to investigate and resolve to prevent any negative reporting.

 

Good luck!

[Minolwen]

I'll start on the investigation today. Thank you for your time and assistance.

[LynnInMN]

Did you drop a course?? Sounds like a grant overpayment which would have been due almost immediately after a course is dropped.