Zx2Fast's Hoodpin Apprentice
Another school loan thread...
Welp here is the problem, we all no what time of the year it is tax season.
To start this story I was a full time student at my local ITT Tech campus, I was injured in a car wreck a bit before I started classes I went through a year of PT and injections in my spine to try and stop the pain.
I started class I was about 6-9 months in and I had to be cut open and some repair work done to my spine.
I told everyone at ITT I had to have surgery and there were all telling me good luck and they will see me when I return which I had full intent to.
Its always fun when a doctor says" the pain will go away but ya might not be able to walk again" yeah... I went through well but it took awhile for me to heal and it suck I kinda had to learn to walk again. Welp this all took about a year a lil more to "fully" heal.
Welp I tried to go back and I couldn't because my loans started to kick in for me to pay up which I was never informed of.
After all this I guess I'm asking is they took my tax return without notice they have never really tired to contact me about my loan, I have always kept in touch and tried to go back to school. Is there anything I can do about this?
Originally Posted by guthepenguin
It's all that makin' out in the passenger seat, since our cars are so sexy they just turn women on.98' ZX2: 21mm RSB with ES bushings, 2.25" cat-back custom exhaust, V6 accord CAI, homemade short shifter, and custom made cubby made by SeRiousZX2.
Drug dealer student.
yeah...you can pay the student loan. in the contract you signed...willingly signed...it says that if anything like that comes up it is your obligation to let them know about it and try to work it out. also, i doubt they garnished your wages (income, in this case tax return) without taking it to collections first. a company, even a financial one, cannot garnish wages...only a collections agency can. have you changed addresses or anything?
2000 S/R FSP build: APC shift knob, LED tails, zx2 sticker on the rear bumper, Silverstar headlights, blue spark plug wires, optima red top battery, Magnaflow muffler, and some lowering springs.
What you looking at?
have you tried calling them and seeing what the deal was?
Parts for sale:
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Zx2Fast's Hoodpin Apprentice
I been living at my current address for about 6 years a bit before I started classes all I really got from my school or the financial people was basically like advertisement paperwork.
I have not once received anything on me going to default or them wantin to take my shit.
I'm not fighting the fact I owe them money, just the fact they took my stuff without warning...
Moderator
Schedule a meeting with their financial adviser or the dept. head. Be prepared to show ALL documentation for your case. They love getting money, so you saying you're willing to take out ANOTHER loan so you can go, is a good thing...lol
Did you get a loan from the school or someone else? like sally mae....
Nothing!
Zx2Fast's Hoodpin Apprentice
Fucking sally mea was who the loan is with, to boot I got in the mail yesterday a letter sayin that they took my taxes...
I haz cheezeburger
Aren't a lot of student loans given by the gov't... If his was a federal loan of some sort, the gov't can take his return to pay his due amount, without wading through the collections process like other financial institutions would have to. I may be mistaken, but I believe that to be a possibility.
People should not be afraid of their governments. Governments should be afraid of their people.
The greatest trick the devil ever pulled was convincing the world he didn't exist.
I haz cheezeburger
ding! Yeah, federally insured loans like that don't have to give you notice... You'll get one saying they have, after the fact... but it doesn't have to go through the same process like other financial institutions do to get their money... It's the gov't... it's legal for them to just take it, provided you owe on a federal loan.
Drug dealer student.
money from the government is a grant...and you don't have to pay that back. you might be thinking of stafford loans, which are subsidized by the government, but the debt is owed to a private financial institution. almost all of them will start taking collection of said debt as soon as the student stops going to school...usually after graduation. it's in the contract for the loan. that's considered the first "warning" for collection of said debt. whether or not the bank sends more warnings before collecting is another story. every single person taking out a student loan should expect to know their terms of the loan.
Moderator
I've always been concerned about how student loan money is made easily available but how little guidance is given to students when they borrow money but don't have a career plan. Little to nothing is done to help thme understand the loan is an investment that is going to cost them money downstream, but also provide rewards if they follow a plan.
That's the catch, having some kind of a career plan going into one or more educational cycles. It doesn't matter if you change directions, if you started with an understanding of how to develop a career path that will help with the redirection.
The problem comes with students being encouraged to borrow money without having a plan to ensure that investment is spent wisely. It happens at all levels, the top tier schools (Harvard, MIT, Stanford, CMU, etc.) the better state schools, state colleges smaller private colleges and for profit schools. The problem is the results differ between situations with people who have the least resources being affected most adversely when things go wrong.
Top tier schools and the better state universities have an abundance of qualified candidates. They can afford to turn down less motivated or less organized students and there is little reason for them to encourage a student to take on more debt than they can handle. Schools at this level are more able to provide financial aid, and students at this level tend to be more resourceful. The percentage of students who take on problem loans is small. Also, the net costs after financial aid packages for qualified students is often lower than schools further down the ladder.
At the next few levels down, schools are more reluctant to turn students away. Suggesting a student work or attend a community college to find a direction before taking on loans is unlikely to happen. This is where I find fault, there is little advice given about developing a career plan before entering school and before taking on debt. There should be accountability for advice given to a young student before they take on loans thatb may be ill-advised.
The next level down is just as bad, schools that imply they will teach you a career. Certainly there are people who are working and who have a successful career who benefit from the for profit schools. The problem is when students who are looking for a career and career direction borrow money that far exceeds earnings expectations even if they find a job. Sometimes these schools steer students into a paraprofessional (legal aid, teachers aid, nurses aif, bookeeper) direction when the student mighht have been a successful professional given the right advice. When they don't finish school or if the career doesn't materialize the debt becomes crushing.
I have less problem with the true trade schools, those that deliver training to become a carpenter, electrician, plumber, auto and diesel mechanic, jet engine mechanic. Students who are attracted to these schools generally know what they want to do, the catch is finding the right school that delivers training. The motivation is there to succeed.
Add on top of all that unfortunate life situations such as the one you describe. Students who borrow money take on a lot of risk, but don't get good advice about what happens when things don't work out until it is too late.
I don't know what the solution is. Students legally assume a lot of responsibility they may regret when they sign legal documents for student loans. Perhaps there should be a requirement the lending institutions review the students plans before lending money (similar to a small business loan) with both the lending institution and school being partly responsible if they encourage students to take loans without fully understanding risks and responsibilities.
I understand this first hand, as a student who had to fund much of multiple degrees through work, scholarships and loans, as an academic who advised students who were struggling and as a professional who has advised family members of children of friends. It isn't easy, sometimes the best thing is to suggest a student work and attend a community college or find a job that pays tuition while they get their life plan in order before borrowing money.
The problem with this is if you are honest and suggest alternatives to help a young person understand the importance of developing a plan before incurring debt, someone is going to want to wring your neck. It is either the liberals who will accuse you of being classist or elitist or parents who haven't a clue themselves and see your advice as demeaning their child rather than helping the child take the first steps to success. Schools who are just interested in getting students in the door, regardless of qualifications or debt, will also get angry as they see you trying to reduce their revenue stream.
Last edited by JonsZX2SR; 02-25-2012 at 02:39 PM.
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