2 years Past Due State college tuition?

Financial Aid Questions and Answers : Where do I begin? Answers to your Financial Aid Questions!

Moderator: Financial Aid Guru

2 years Past Due State college tuition?

Postby maged1309 » Wed Sep 12, 2012 10:45 pm

I left college 2 years ago with a balance of about $4600 owed in tuition (for a public university) this is not a student loan, due to extraordinary personal circumstances. I got my life together, and I called to see what I need to do to go back to college. Admissions office told me that I must contact the business affairs office on campus and talk to the collections department. I called them I spoke to the gentlemen who is handling my account, and this is what he told me about my account

First I must pay the amount I owe as soon as possible or I must “deal” with the consequences, the amount I owe is now about $6942 and when I asked why he said:
Your account went to a collection agency for a year, and it was returned to us.Then your it went to the State Department of Revenue, thus, you accumulated fees from both sides.

I do not have the money to go back to college; however, I recently received a scholarship through a rehabilitation program I was in. I contacted them asking for help, they told me nothing they can do and suggested that I get a loan for the bank to pay it.
All my worth is about $3600 that my mother left for me, I do not know what to do, who to talk to, so please help me, or guide me.
maged1309
New
 
Posts: 2
Joined: Wed Sep 12, 2012 10:42 pm

Re: 2 years Past Due State college tuition?

Postby Aid Whiz » Thu Sep 13, 2012 6:03 am

You would need to contact whomever currently holds your loans and arrange to make payments. In most cases students are unable to register for new classes if there is an outstanding account balance. The school may even put a hold on any requested transcripts, making it difficult to transfer to a new school.

The bottom line is the account needs to be reconciled, whether that's by a personal loan or contacting the loan holder to set up a payment plan.

Your financial aid or business affairs office may be able to give you some resources for students in your area, so I would start there.
Student Advocate, The Student Loan Network

Check out the Student Loan Network Official Blog for the latest in financial aid news and information!

Follow us on Twitter for helpful tips and tricks for financial aid!
Aid Whiz
Veteran of Financial Aid
 
Posts: 626
Joined: Wed Mar 30, 2011 8:25 am

Re: 2 years Past Due State college tuition?

Postby maged1309 » Thu Sep 13, 2012 1:15 pm

i already know that, my question is can I negotiate the amount, and how?
maged1309
New
 
Posts: 2
Joined: Wed Sep 12, 2012 10:42 pm

Re: 2 years Past Due State college tuition?

Postby Aid Whiz » Tue Oct 09, 2012 8:59 am

Yes, once the account goes to collections, borrowers are typically able to negotiate the amount to settle the debt.
Student Advocate, The Student Loan Network

Check out the Student Loan Network Official Blog for the latest in financial aid news and information!

Follow us on Twitter for helpful tips and tricks for financial aid!
Aid Whiz
Veteran of Financial Aid
 
Posts: 626
Joined: Wed Mar 30, 2011 8:25 am


Return to Questions and Answers

Who is online

Users browsing this forum: No registered users and 5 guests

cron