Student Loan Lates

[virtualbev]

I'm new to the creditboards but have read every post in this forum. I'm sorry if this question is a duplicate but I didn't see anything like it.

 

I attended Univ. of Phoenix back in '97-'98 using a student loan. The school accepted the student loan funds as payment for the classes I took. I became ill during 1 class and was dropped from that one class. According to Univ. of Phoenix, they returned the student loan money for that one class to the lender and now have me on the hook for $1200. I've disputed it with Ex. but it came back verified as accurate. I had contacted the lender to determine if the school had in fact returned these funds but according to the lender's records, there were no refunds to the lender on my behalf. I want some advise on how to proceed before I mess it up any further. Thanks bunches :shock:

[snowpuppy]

You must always be at least half time at your school to receive a student loan. If you dropped below half time during the semester, your school may have returned your loan to the lender because you were ineligible.

 

Check with the school as to what date they said you were less than half time. Then ask what the "60% date" was for that semester. If you stayed in both classes until the "60% date" you were entitled to keep your loan for that semester.

[virtualbev]

Thanks so much for the info. I guess I understand that and I will follow-up.

 

You must always be at least half time at your school to receive a student loan. If you dropped below half time during the semester, your school may have returned your loan to the lender because you were ineligible.

 

Check with the school as to what date they said you were less than half time. Then ask what the "60% date" was for that semester. If you stayed in both classes until the "60% date" you were entitled to keep your loan for that semester.