The problem with being a part-time student.
I finished filling out and mailing off my paper work to ACS Education. Otherwise known as the people who took over when PHEAA decided to pull out of the loan business. I've lost count of how many times I've had to ask for a deferment on my loans because I was still in school. Loans don't have to be paid back while in school (as long as a student is
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One thing you might want to seriously consider is a consolidation loan--see if you qualify. If you do, then I would recommend getting a consolidation loan from Sallie Mae and use it the buy these schmucks out of your life.
This is not an "accident" or a "mistake", this is a bank trying to take advantage of you. They know all about the grace period and everything else.
I'd look over the terms and conditions of every loan you've taken out. Keep in mind, the bank cannot change the terms of the loan on you without your consent, but I'll bet you they'll try really hard. They'll send you letters making you think that you have no choice but to sign and change everything. I had a bank try that with me, I simply refused to sign off on their payment schedules and continued the make the payments according to the original schedule.
Trying to cheat you out of the grace period is just one trick they'll try. They might also try changing the scheduling of the payments, increasing them until they're higher than a mortgage payment
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Hmm... I'll definitely look into my loan, since I've told the holders repeatedly that I was still in school when they tried to get me to pay. It is a bit suspect that they'd only give me a month to pay after my graduation. I sent in the deferment paperwork just in case, but I may have to keep calling. Maybe I'll even get someone with an accent that I can fully understand. =p
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