SRW
1st October 2010, 01:35 AM
My Daughter has a Stafford student loan, she is going on 5 and a half years of her four year B.S. Degree program, which is not all that unusual. She was working as an intern for a professor at one UC college and when the professor transfered my daughter went along with her. Now the old school has it in their heads that my daughter is no longer a full time student and some how the not fin-aid at her new school dose not appear to want to help. As a result the loan was turned over to collections.
Her loan was not extravagant, as I wiped out most of my savings to pay for her schooling as well as the two boys who are also in school. it is about 13,000. But now the collection agency has added on 3,200 in fees plus 450 in interest. And are demanding that she pay 181. per month. She is a full time student and her monthly pay is only around 700.00. It is my understanding that because of her income she should not be paying anything even if she were out of school.
Not there is another interesting catch to this whole thing. I received the letter from the collection agency, the same one that I use, and tomorrow I was to send them about 250,000 worth of business. It is not my decision to send this to them I am a lowly Programmer/annalist. I do however have contacts with the agency.
Should I attempt to use this as leverage? would you? And does anyone have any experience with a similar situation? How hard is is to get this out of the hands of the collection agency and back in the hands of the government so my daughter does not starve.
Her loan was not extravagant, as I wiped out most of my savings to pay for her schooling as well as the two boys who are also in school. it is about 13,000. But now the collection agency has added on 3,200 in fees plus 450 in interest. And are demanding that she pay 181. per month. She is a full time student and her monthly pay is only around 700.00. It is my understanding that because of her income she should not be paying anything even if she were out of school.
Not there is another interesting catch to this whole thing. I received the letter from the collection agency, the same one that I use, and tomorrow I was to send them about 250,000 worth of business. It is not my decision to send this to them I am a lowly Programmer/annalist. I do however have contacts with the agency.
Should I attempt to use this as leverage? would you? And does anyone have any experience with a similar situation? How hard is is to get this out of the hands of the collection agency and back in the hands of the government so my daughter does not starve.