Student loans never used.

[cosine]

Originally Posted by LSCAP

I don't know about all that stuff but,

My kid was helped by the school to get a school loan. He dropped out in time to cancel the fee, and eventually convinced the school to give the money back.

Are you saying the school would have kept the loan money? Is that a hint that maybe some schools do this, perhaps on a regular basis?

[ecmst12]

OP stated his tuition was paid by other sources so he couldn't have gotten those loans. That is an incorrect assumption, people take out student loans for all sorts of things which are not limited to tuition or other fees payable to the school. The loans are quite frequently payable to the STUDENT so it can be used for whatever necessary expenses to complete the semester. He can't just assume the loans are wrong, quite likely they are correct, but he needs to do some research. But he didn't get those loans without signing papers agreeing to them.

I had my loans on forbearance for about 3 years after school during which time they accrued 1400 in interest per year. I have since consolidated and have misses a few payments but overall they are paid as agreed. They won't be paid off for about 18 more years if I keep paying the minimum, and I have a wedding to pay for so I won't be paying much more then that for a while. I don't get money from rich relatives, my credit is FAR from perfect and I am recovering from credit card mistakes I made in the past. I am not sitting up here on a high horse passing judgement on everyone who's ever struggled to pay their bills. I've learned a few things and just try to share what I've learned. And one of those things is that government backed student loans are nothing to fool around with and if you owe them, there is nothing you can do to make them go away besides payment, or death. Other debts, you might be able to wait out the SOL or get them discharged in BK. Student loans are up there with death and taxes - written in stone.

[You Are Guilty]

Originally Posted by itdepends

That's not entirely accurate. Student loans can be discharged in bankruptcy if the debtor shows an undue hardship.

Have you actually seen what the courts require before discharging a student loan? You essentially have to be a head on a plate, and even then you have maybe a 50-50 shot.

[itdepends]

Originally Posted by You Are Guilty

Have you actually seen what the courts require before discharging a student loan? You essentially have to be a head on a plate, and even then you have maybe a 50-50 shot.

Yes, I do know what is required, and I agree that meeting the burden is very difficult.

[You Are Guilty]

Originally Posted by itdepends

Yes, I do know what is required, and I agree that meeting the burden is very difficult.

Then you might want to be careful how you word your responses, as your prior reply could easily be misconstrued to imply that the OP actually has a shot at having his loans nullified.

[itdepends]

Originally Posted by You Are Guilty

Then you might want to be careful how you word your responses, as your prior reply could easily be misconstrued to imply that the OP actually has a shot at having his loans nullified.

Now this is a very strange response.

Another person made an incorrect statement that "student loans NEVER EVER go away." This person even emphasized "NEVER EVER" with caps so there could be no misunderstanding that it is impossible to discharge a student loan.

Yet I should be careful after writing a very tempered response that actually gave his statement some credence ("not entirely accurate"), while pointing out that there is an exception.

Sure Boss, I'll try to be more careful. LOL.

[cosine]

Maybe if he included "VIRTUALLY" with that "NEVER EVER" ... still, from what I've heard, that would still be overly hopeful. The OP hasn't posted anything that indicates even a remote possibility he would have a shot at discharging it in BK. If, however, it turns out the loan was improper, and it's not really his debt, that's completely unrelated to discharging it in bankruptcy. It could be the loan was really paying for something he benefited from while going to school that he didn't have to pay for. It would be valid in that case. Or maybe not. It's something he will have to research more in depth with to find out what it's really about.

I do know from an experience of a friend, that student loan problems, errors, and/or fraud do happen. He eventually got a $9000 student loan debt knocked down to the $1500 level of his actual tuition costs (2 years of a community college) and paid off the final $300 a month after the judgment. He never found out where the real error or fraud was (or cared at that point).

[ecmst12]

What makes me think that the loan is likely valid and correct is the fact that OP said he attended school for 3 trimesters, and that matches the 3 loans he is being persued for. Doesn't seem like the case that he was being granted loans paid to the school after he was no longer a student. But it is true that anything is possible.

[You Are Guilty]

Originally Posted by itdepends

Now this is a very strange response.

Another person made an incorrect statement that "student loans NEVER EVER go away." This person even emphasized "NEVER EVER" with caps so there could be no misunderstanding that it is impossible to discharge a student loan.

Yet I should be careful after writing a very tempered response that actually gave his statement some credence ("not entirely accurate"), while pointing out that there is an exception.

Sure Boss, I'll try to be more careful. LOL.

Apparently, you might also want to cut down on the caffeine. It's making you irritable.