I one of the 500 students of Ameritrain inc. Took out a loan with SLM Financial and did not receive training I was promised and signed a contract for. The loan was paid in full to Ameritrain for the sum of 10,050.00 on a tuition that ran 10,525.00, which I had to pay the difference up front over a year ago.
I managed to take one of the coarse I signed up for but unfortunately I had to postpone the other almost a full year. I was called to have my MCSE classes rescheduled due to some kind of air-conditioning problem as well. The next available class was not convenient for me so I scheduled it for Dec, 6 2002 to which I tried to contact Ameritrain inc. Three days prior to confirm what hours I need to be there. Only to find out they no longer existed.
I contacted SLM financial and found they had a new option on there automated phone system for school closings. I choose this option thinking they had a solution already seeing as how amertrain filled for chapter 7 bankruptcy back in October. The closest thing to a solution they had for me was a number to call and that lead me to the Department of Education "whom I might add has been the most helpful thus far".
SLM Financial made no attempt to contacting me even though they were quite aware of the fact that the school was no longer under operation leavening me with a serious problem. Being 19 its very hard to get a loan regardless of how good my credit is and I had to have the assistance of my sister to get it. Now I trapped with a 10,000 bill that I have to pay off if it was just my name on the loan id just stop paying but I can't ruin my sisters credit too these are unacceptable situations SLM financial created and supported.
I'm not saying that just to stop paying on the loans is a good idea but honestly why should we pay we didn't receive anything from them at all except maybe high APR rates. If you are remotely interested with SLM Financial as an option for a student loan I highly recommend you talk to one of the 500 students reamed by SLM Financial and not to mention others like us with other similar situations exactly how much we like dealing with SLM Financial and we'll be happy to vent (phone conversations may not be suitable for children under the age of 16 may contain graphic images coarse language and suggestive dialog)
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