Please Help, sorry if this is wrong forum...

[Nelle_76]

What is the name of your state? California

I have a situation involving a school I signed up to attend and recieved a Sallie Mae loan for the tuition costs. Both me and my father (who cosigned for the loan) attended the signup session in which we were very much 'sold' on the stability of the school, the value of the education I would recieve, etc.
He remembers the claims they made as to the greatness, stability, relevance of their program too.
I have documentation to back this up, the claims the school had made, on paper.
Anyways the school itself went out of business (bankruptcy, chapter type unknown) before I recieved my degree.
We are still stuck with over $150.00 monthly in loan payments, the CA state tuition recovery office is supposed to help but I do not know if they will.
What I want to know, do I have or can I take any realistic legal recourse against the founder of the school (false advertising, mis-representation, etc) ...I do not want millions (or hundred-thousands) of dollars, but this has caused significant personal, emotional, and financial problems for me and my family that are not going away.
Sorry this ran on long, but there was a bit to explain. I hope someone can help, I hope I have an option...

 

[jh112]

to: Please Help, sorry if this is wrong forum..

Had a reply typed out, thought I'd sent it, discovered kids deleted it. OH well ... similar thing happened to me in late '80's. I could look up in my papers (somewhere) the pertinent info, but in a nutshell, your statements about "school stability" etc. sound so familiar!! I got a loan through a government program. Is Sallie Mae gov.? Any how, about one week after the school got there check from the student loan thing, the school went bankrupt. The loan place insisted that I begin and continue to make agreed upon payments, and I kept insisting that if they were a part of the gov. they should have had the resources to see that this school was failing financially when I was not able to get that info. I wrote repeatedly to the loan office and to my state representative and congressman. After many months I received a paper from a courthouse in L.A. and my name was listed in the schools bankruptcy. I fought that too. I had NOT signed a check for them, I had NOT received anything from them. After much repeticious writing, the next set of papers I got from courthouse had the student loan makers name listed. It is still not over, but it took about 4 years of not backing down to get this out of my hands and off my record. Write letters to influential people. Also, see if any of the news programs still have "trouble shooters" that like to get involved in helping the "little guy". I know there used to be some people like that. I live in PA now and have for the last 10 years and so I don't know what's available now. I would like to know how you make out, okay? Good luck.