My son has a charge off listed on his CR from a U he attended in 2002/2003. All his payments had been paid through student loans. He was put on acededemic suspension and missed his second semester that year. The payment history is from the start of that second semester, 2/03. The U showed an unpaid balance of $400+ which was charged off 6/04.
So I'm wondering... If he had paid tuition for the fall semester and dropped because of acedemic suspension, how is there a bill in the first place? How can there be a bill at all from the U if the moneys and payments have been through student loans?
Full Version: Charge off from University
Has he logged into his student account account to find out what the charges are?? It could be dorm fees, library fees or tuition that the loans did not cover. If he cant remember his login, have him call the school.
Thanks Lynn. We're local so it would just be tuition. First semester was paid and he didn't go the second semester. Unfortunately this was a big unknown to me! Just found this out with his first CR.
So I'll/he'll call the U and find out exactly what is the fee was for. I guess it could be carried over from the first semester but I was sure that was all paid for from his loan. We'll see.
If it's listed as a charge off, will it remain on his CR and/or still be due? The balance listed is zero. He's moved on to a different school and used student loans there as well. Could he apply his student loan money to this old debt, if needed?
So I'll/he'll call the U and find out exactly what is the fee was for. I guess it could be carried over from the first semester but I was sure that was all paid for from his loan. We'll see.
If it's listed as a charge off, will it remain on his CR and/or still be due? The balance listed is zero. He's moved on to a different school and used student loans there as well. Could he apply his student loan money to this old debt, if needed?
QUOTE(KennyC @ Jul 2 2005, 01:39 PM)
If it's listed as a charge off, will it remain on his CR and/or still be due? The balance listed is zero. He's moved on to a different school and used student loans there as well. Could he apply his student loan money to this old debt, if needed?
Student loans and student accounts have little to do with each other. When student loans come in, they will pay the school what it is owed on that day...the balance of the student account. Other charges may come later..it is the students responsiblity to pay them out of the cash back they receive from the student loans.
If your son attendended a public or state school, the debt wont go away. In fact they can seize his state income tax return to pay the debt.
Just an FYI.
The same is true for Private schools in California when you live in California. Our state return goes straight to her outstanding bill every year.
The same is true for Private schools in California when you live in California. Our state return goes straight to her outstanding bill every year.
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