What's fair is fair? not with college :(

Manzerick · Nov 30, 2007

Hey Folks,

Just kinda have to vent here. I just received an MBA on 10/20/07. When finished, my student loan was requested to be paid less than 2 weeks after I finished. Not a big deal, but I thought I had 6 month.. not a problem.

Now, here's where the fun begins. I received a call from school collecitons that I owe them $6,000 that needs to be paid NOW or I will not get my diploma or transcript. I called the school and they admitted the reason for the balance was that they switched computer systems and did not know I owed it. Had they known, i would have filled out another financial aid paper and called it a day. The big problem is, because I am no longer a student, they can not add it to my loan. So now i need to fork over $6,000 ASAP AND pay $400 a month for the student loan. Aside from the school saying "I'm so sorry this happened to you", I can't imagine how to fix this unless I pay it off...somehow... someway....

They did give me a few options:

1) Ask my employer to pay

2) take a personal loan

3) use my credit card

No good!! I hope my poor Titan doe snot end up on B/S/T becasue of this but... the lil' fella may be about a 8% fix to my problems and an option. Ya, I have some savings and will have to tap that but... My quest to purchase a home is now delayed about a year and a half...

Just had to vent about this!! i really feel taken advantage of!!!

If you see me selling organs online.. You'll know I get to keep da' Titan :lolsign:

this_is_nascar · Nov 30, 2007

That sucks. Although I have no personal experience with college loans, although my daughter-in-law does, I thought the monthly payback thing started 6-months after graduation? In her case, that's what occurred.

Manzerick · Nov 30, 2007

With my undergrad, that was the case. It may have had to do with the fact that I still have undergrad loans and now the grad school loan (ya, they got me good). Maybe this is the "kick in the rear" I need to sell some torches (I really do have WAY WAY too many) or even clean out my house on ebay. The $$ aside, I really feel taken advantage of.

Thank you for your support!!!

this_is_nascar said:
That sucks. Although I have no personal experience with college loans, although my daughter-in-law does, I thought the monthly payback thing started 6-months after graduation? In her case, that's what occurred.

Kiessling · Nov 30, 2007

That does sound quite unfair to me. In Germany we do have much more time until payback starts. And even then, several options are available. Then again, it is a state thing and not managed by the individual university.
bernie

this_is_nascar · Nov 30, 2007

Although it will suck, sell your lights if you have to. You must keep your priorties straight. It sounds like you already know that.

Manzerick · Nov 30, 2007

Very true! The fed's set the guidlines for the "Sanford loan" and both school and loan agency claim their hands are tied but.. I can't believe nothing can be done.

I'm very very lucky to have my health and the means to pay this (and the voice to complain lol). I guess I get sad to think "what if I couldn't generate the funds?" I would have spent three years and 32K for nothing becasue of a 6K oversite.

School's are out of control!!!

Kiessling said:
That does sound quite unfair to me. In Germany we do have much more time until payback starts. And even then, several options are available. Then again, it is a state thing and not managed by the individual university.
bernie

greenLED · Nov 30, 2007

Call the Dean of your College and the Dean of the Graduate School as well. Ask to speak with the Head of Finances. It's *their* computer screw-up, not yours. A friend of mine was listed as "dead" in the financial aid computer system. Took them months to sort it out!! :shakehead:

Do you have a written agreement outlining the terms of your loan? If so, both parties should adhere to it.

Manzerick · Nov 30, 2007

Thank you for the kind words!! I sometimes have my head on straight!! LOL

This is weird though.. I never EVER could have imagined school being the reason for some of my torches to be sold. Not the end of the world... but... Like a junkie "I need my torch fix man!!!" LOL

I do have a few options (I've been very lucky and I appreciate it everyday on this earth) and will try to make the $$$ happen with minimal or no colateral torch selling. The only problem is that my financial plan has been kinda tossed to the side due to this but... Hopefully the MBA iwll bring me a real job with real $$$ (or a rich relative... if you even exist LOL)

I feel better having even typed it here!! The CPF is really an awesome community!! :O)

this_is_nascar said:
Although it will suck, sell your lights if you have to. You must keep your priorties straight. It sounds like you already know that.

Manzerick · Nov 30, 2007

Hey Green Fellah!!!

it's weird.. i normally want to escalate this to the top but.. for timing and my mental state... I'm just like "down" about it and want to just pay what I guess I owe. (I'm in the middle of the interview process for an internal job here at good ole' Sprint/Nextel Corp and have to have my transcript ASAP. I talked ot HR today andif they call and my school says i did not graduate due ot this... I falsified my applicaiton and needless to say, won't get the new position) No fun!!!

Sometimes you're the windshield.... sometimes your the bug!!! i am the bug today!!! :lolsign:

greenLED said:
Call the Dean of your College and the Dean of the Graduate School as well. Ask to speak with the Head of Finances. It's *their* computer screw-up, not yours. A friend of mine was listed as "dead" in the financial aid computer system. Took them months to sort it out!! :shakehead:

Do you have a written agreement outlining the terms of your loan? If so, both parties should adhere to it.

binky · Nov 30, 2007

So... This is really more like your MBA final exam, eh? I mean, you know the business world is filled with all sorts of snags & gotchas that you'll be hammered with elsewhere too, so maybe they think if you can pass this one more test then they'll fork over your diploma.

To get back to the situation more seriously, though... The way you stated the school just came up with the figures and is all of a sudden making you pay does not sound like it's something that they should be allowed to do. Further, if they're asking $6K from you then they're probably asking for thousands from all your grad buddies too. Ask around. If it's more than a couple people then tell them your version of fairness (though you should carefully scrutinize your loan contract) or you'll ask the fairness meter as judged by the readers of the Boston Globe.

That's one hardball approach. I understand you might just be venting (VERY understandable) and plan just to pay it & call it an experience. I don't think that sets the school up very well though for the recent-grads Alumni Giving Program for this year, though.

Now, from the computer perspective... If they "found" that you owe $6K because they switched computer systems, then what are they using to judge that this new calculation is right? I mean, all the time they led you to believe that the former calculation was correct too and had no authoritative second system. Flippantly you should just respond that you'll happily donate to them a new Dell PowerEdge with software that'll calculate that the school actually owes YOU $6K.

powernoodle · Nov 30, 2007

The borrower is slave to the lender. Proverbs 22:7. :thumbsup:

greenLED · Nov 30, 2007

Dood!! I don't think anybody's congratulated you on finishing your degree!
:twothumbs for your effort

Oh, I'd take it to the top. Think of what you could lose if you don't... fight for it! (and, really... you're done with all requirements and stuff, so in practice you're "pending graduation", which doesn't mean you haven't finished. Oh, and unless you gave the Registrar's Office written authorization to disclose your records to your company, the university cannot release *any* information on you - nothing.

binky · Nov 30, 2007

greenLED said:
Dood!! I don't think anybody's congratulated you on finishing your degree!
:twothumbs for your effort

+1 Congrats!

Oh, I'd take it to the top. Think of what you could lose if you don't... fight for it! (and, really... you're done with all requirements and stuff, so in practice you're "pending graduation", which doesn't mean you haven't finished. Oh, and unless you gave the Registrar's Office written authorization to disclose your records to your company, the university cannot release *any* information on you - nothing.

Tru-dat. Plus, IANAL but clearly it's not "falsification" if you simply wrote your expected graduation date & degree. That's common enough that the degree gets delayed that any HR tootle worth his/her job knows that's a possibility and it's not something to hack on an applicant for. I get so frustrated with HR dweebs who try to play hardball. That's especially because I'm in a techy field and they never NEVER know anything I'm talking about but usually waste an hour of my life asking me insane questions about what-if's and puppy dogs.

Manzerick · Nov 30, 2007

LOL I love the "final exam" analogy!!! You have me cracking up over here!!!!

I wish I didn't have a "great" interview last Monday. This puts the jets on to move..move move... but... With that being said, I'm going to chack with the folks i still talk to from school. I have kept it private (well, is a public forum private? LOL you know what I mean) but will infomr my fellow Alumni!!

:O)

binky said:
So... This is really more like your MBA final exam, eh? I mean, you know the business world is filled with all sorts of snags & gotchas that you'll be hammered with elsewhere too, so maybe they think if you can pass this one more test then they'll fork over your diploma.

To get back to the situation more seriously, though... The way you stated the school just came up with the figures and is all of a sudden making you pay does not sound like it's something that they should be allowed to do. Further, if they're asking $6K from you then they're probably asking for thousands from all your grad buddies too. Ask around. If it's more than a couple people then tell them your version of fairness (though you should carefully scrutinize your loan contract) or you'll ask the fairness meter as judged by the readers of the Boston Globe.

That's one hardball approach. I understand you might just be venting (VERY understandable) and plan just to pay it & call it an experience. I don't think that sets the school up very well though for the recent-grads Alumni Giving Program for this year, though.

Now, from the computer perspective... If they "found" that you owe $6K because they switched computer systems, then what are they using to judge that this new calculation is right? I mean, all the time they led you to believe that the former calculation was correct too and had no authoritative second system. Flippantly you should just respond that you'll happily donate to them a new Dell PowerEdge with software that'll calculate that the school actually owes YOU $6K.

Manzerick · Nov 30, 2007

Thank you sir!!!! :O)

That's a good point... How can they say i didn't graduate? I really did but jus tdon't have the "papers". Good think I saved my last grade report that showed all of my grades and that all classes were taken. if quesiotned at work, I can show them that and all the emials with the school.

Thank you again for the congrats!!! You folks are AWESOME!!!

greenLED said:
Dood!! I don't think anybody's congratulated you on finishing your degree!
:twothumbs for your effort

Oh, I'd take it to the top. Think of what you could lose if you don't... fight for it! (and, really... you're done with all requirements and stuff, so in practice you're "pending graduation", which doesn't mean you haven't finished. Oh, and unless you gave the Registrar's Office written authorization to disclose your records to your company, the university cannot release *any* information on you - nothing.

Turd_Ferguson · Nov 30, 2007

Hey! Congratulations. But here's your first chance at negotiation.

MBA's are overrated. And besides you've already got the education (and the transcripts), who cares about the piece of paper. Tell them you'll give them $1,500 for the paperwork or you'll just transfer most of your credits to a bigger name school, take a few more classes, and use the money to have the better school put their name on the paperwork.

Oops! Looks like I'm not the only one with that idea. Didn't read the whole thread until after I posted. Good luck!

Manzerick · Nov 30, 2007

Thank you sir!!!

I hear ya with HR.. it seems the real mesage like stopping the "real" liers is lost on some petty ca-ca with me. This will pend into next week as I will need time to get the loot for this ransom. I hope to get the job before this is resolved so I can then "storm the castle" and get the Dean on the phone!!!!

Thank you again for the kind words!!!

CPF'ers have made my day!!!!!

binky said:
+1 Congrats!

Tru-dat. Plus, IANAL but clearly it's not "falsification" if you simply wrote your expected graduation date & degree. That's common enough that the degree gets delayed that any HR tootle worth his/her job knows that's a possibility and it's not something to hack on an applicant for. I get so frustrated with HR dweebs who try to play hardball. That's especially because I'm in a techy field and they never NEVER know anything I'm talking about but usually waste an hour of my life asking me insane questions about what-if's and puppy dogs.

Manzerick · Nov 30, 2007

Thank you sir!!!

Now that's an idea!! I agree with the "piece of paper" part and really just don't want this to mess up my credit or even getting the degree sent to me (i'm probably not going to walk...not sure).

I actually felt bad for the finance rep today at school. She seemed to really care but due to the red tape was not able to help (nor was her manager)

I need to go on my "flashlight walk" to get my head right today LOL One lifes simple pleasures!!!!

Turd_Ferguson said:
Hey! Congratulations. But here's your first chance at negotiation.

MBA's are overrated. And besides you've already got the education (and the transcripts), who cares about the piece of paper. Tell them you'll give them $1,500 for the paperwork or you'll just transfer most of your credits to a bigger name school, take a few more classes, and use the money to have the better school put their name on the paperwork.

Groundhog66 · Nov 30, 2007

BIG congrats on your acheivement, I am sure it will all work out fine in the end.

Tim

TigerhawkT3 · Nov 30, 2007

So, the loaners want you to start payments within a fortnight, and the school suddenly wants six grand? Jeez, dude! :faint:

I don't know if this helps, but someone told me that as long as you're taking a certain number of units in some school, even a junior college, you don't have to pay your student loans.

My vote goes with escalating your issue with the school until someone with authority fixes the mess.

What's fair is fair? not with college :(

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