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Student Loan Bullshit

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midwestpowhunter
Posts: 2198 - Karma: 189
So I recieved a student loan for the first time this semester. I was under the impression that I would recieve a check for any additional amount that was left after the tuition was paid. Now heres the fun part. My parents paid my tuition with their credit card. I borrowed the money bc I am commuting a long way and now Im only working 10 hrs a week. The loan was to subsidize my lack of employment for transportation and living expenses. I didnt recieve a check so I called the financial aid dept and they said they credited the credit card that paid the tuition. My parents are out of the country and arent reachable. I know I will get the money from them eventually but that isnt the point. The school gave my loan to someone besides me! A loan I, not my parents am required to repay. I feel violated and I want to go pee in the financial aid depts butt. has anyone else had anything like this happen?
Sep 13 2011 11:33AM
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eldridge
Posts: 2272 - Karma: 47
not exactly that, just have been waiting on my reward letter for about 2 months now. Summer work money is gone and october rent is creeping closer everyday. If i dont get it soon, ill whore my body out on the streets.
Sep 13 2011 11:35AM
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elemeno89
Posts: 1582 - Karma: 79
the student loan goes towards the school, not you, to pay for your tuition. you are correct in stating that you should have received a check for the remaining balance. it is odd that the school automatically gave the money towards your parent however... something to take up with financial aid for the next semester.
Sep 13 2011 11:58AM
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seward
Posts: 5233 - Karma: 2,174
wut?

you got the loan from a bank, or federal funding, or your school??

sounds like you should have used that money to pay your tuition, then used your parents credit card for "transportation and living expenses".

i have never heard of getting a credit back. i know when i was going to school i got $4000 a year from the bank. if i didnt use $4000, its not like i got money back, or got more the next year. i got $4000 a year tops to borrow. if i used it all, then i owed $4000 that year, if i didnt use it all, then i owed less.

and ya, why wouldnt they put a credit back on your parents card?? that card was used to pay your tuition. why would the school assume to contact you, set up your financial information, and credit you, when its not your card that payed?? ever payed for anything with a credit card, then returned it? you cant put the money back on your card, it has to go back on whatever card made the initial payment.

Sep 13 2011 12:14PM
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midwestpowhunter
Posts: 2198 - Karma: 189
When sallie may offers the loans it clearly states it can be used for living expenses transportation expenses ect. If the tuition was paid for the only logical place for the money to go is back to me. It's not like I can pay my rent with a credit card. Especially one that I don't have or one I'm not an authorized user on.
Sep 13 2011 3:13PM
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seward
Posts: 5233 - Karma: 2,174

i dunno who or what the fuck sallie mays is.

it sounds like your just mad cause you didnt get money. i tried to understand, then i tried to help, sorry bro.

Sep 13 2011 4:14PM
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cobra_commander
Posts: 16909 - Karma: 4,686
What we have here folks is a life lesson in reading the fine print.
Sep 13 2011 4:20PM
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BILL.COSBY
Posts: 292 - Karma: 5
you should shoot up the bank
Sep 13 2011 5:03PM
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midwestpowhunter
Posts: 2198 - Karma: 189
sallie mae is the quasi goverment agency that financially subsizes most student loans.Im mad bc i signed for a loan and they gave it to someone else. imagine getting a car loan in your name, having to be responsible for the repayment of that debt, and having the bank and car dealer give the car to someone else and you are still on the hook for the payments.
Sep 19 2011 11:45AM
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Sno.
Posts: 12155 - Karma: 6,152

yeah, it was probably an honest mistake. You paid tuition and they were crediting you back . It's possible that their policy is to credit back the card that paid if it was on a credit card.  I can see how you'd be annoyed.  How long are your parents out of town?

Last I checked Sallie Mae loans are private? You can use them to pay your rent.

Sep 19 2011 11:53AM
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seward
Posts: 5233 - Karma: 2,174

exactly

i dont think it is just their policy, i beleave that is everyones policy.

Sep 19 2011 12:06PM
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sherwood4099
Posts: 1173 - Karma: 22
Truth even outside of student loans returns are credited to the card used for payment (unless it's a debit). OP they didn't give the loan to anyone... They followed normal operating procedures what did you think was going to happen? You can even get a cash or check refund for returning a t-shirt these days that you paid for on credit
Sep 19 2011 1:22PM
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sherwood4099
Posts: 1173 - Karma: 22
Cant*
Sep 19 2011 1:23PM
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Dustin.
Posts: 13839 - Karma: 7,704
Full ride FTW.

But on a serious note, you need to be proactive with this kind of stuff. It's your responsibility to find out how the money gets thrown around and to go grab whatever $$$ they haven't given you.
Sep 19 2011 1:46PM
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J.D.
Posts: 21362 - Karma: 5,142
More like a life lesson in the incompetence of university bureaucracies. They probably just decided to do this, I doubt it was a procedural thing.
Sep 19 2011 2:32PM
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eheath
Posts: 61601 - Karma: 123,024
Welcome to the real world.
Sep 19 2011 2:33PM
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SkiThe603
Posts: 5376 - Karma: 498
sucks to suck dude
Sep 19 2011 2:39PM
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midwestpowhunter
Posts: 2198 - Karma: 189
Hahaha. Try welcome to the financial aid world. I've been living in the real world since most kiddies on here were in elementary school
Sep 19 2011 2:40PM
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seward
Posts: 5233 - Karma: 2,174
eheath's just jelly youre not as fat as him
Sep 19 2011 2:52PM
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midwestpowhunter
Posts: 2198 - Karma: 189
Hahaha he must be a big boy
Sep 19 2011 2:58PM
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neutralzombie
Posts: 8629 - Karma: 606
the loan you receive is to cover your tuition and school supplies, not for you to live. sometimes they'll give you some bursaries for that, but it's based on your parents income and whether or not you live alone and etc. why did you have your parents pay your tuition instead of using your loan? also if you want some advice, save your loan extras for school stuff or important things. i'm fucking serious. otherwise you're gonna spend a good time repaying a huge sum of money because you got greedy.
Sep 19 2011 3:10PM
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seward
Posts: 5233 - Karma: 2,174

he's hugeeee

Sep 19 2011 3:15PM
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midwestpowhunter
Posts: 2198 - Karma: 189
I'm not greedy my parents always told me they would pay for my education. I've never applied for financial before bc my rents make too much money. I'm independent when filing income taxes so the patents income rule doesn't apply. When the tuition was due I hade not got my loan completely in place. Therefore I used their cc to pay the oustanding balance. That being said, I commute 80 miles each way 3 days a week. I work like 20hrs a week bc of my course load. The money is to subsidize living expenses(rent,food, and transportation cost). All are completely acceptable uses for the loan as stated on sallie Mae website.
Sep 19 2011 3:29PM
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seward
Posts: 5233 - Karma: 2,174

this sallie mae sounds like a real cunt

Sep 19 2011 3:31PM
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midwestpowhunter
Posts: 2198 - Karma: 189
I'm beginning to think she is the queen cunt in the student loan house if cards
Sep 19 2011 3:36PM
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P-HAGAR
Posts: 608 - Karma: 159
this is OP

Click for larger image

Jan 9 2013 6:19PM
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P-HAGAR
Posts: 608 - Karma: 159
http://static.quickmeme.com/media/social/qm.gif

dammit it wouldnt paste it
Jan 9 2013 6:23PM
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t-roy
Posts: 4041 - Karma: 52
your parents paid the tuition with their credit card. that's clearly the reason why the loan went there. i don't see the confusion. you probably just needed to specify where the money was going to be dispersed.
Jan 9 2013 6:31PM
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volvotom
Posts: 2045 - Karma: 712
What were the dollar numbers for the loan amount, tuition, refund, and credit card charge? A lot of schools apply the loan amount before any other payments thinking that's how you would want it. Is it possible they just refunded the credit card for whatever the overpayment was after the loan had been applied? Also depending on the amount and your parents financial situation, if they were charging the credit card so as to allow for payment flexibility it might not be easy for them to just give you cash for what the refund amount to you would have been. It's a complicated situation. I'm sure you'll work it out.
Jan 9 2013 7:27PM
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