I have applied for a student loan back in November so that I could attend Keiser University in Sarasota, FL. I was swindled in my opinion, and was signed up for a semester of classes I was not even interested in (I wanted to go to Pastry School, and was signed up for a general Culinary program study) all the time telling me, "Oh well you can choose your pastry related classes once you're here" I was told I would need to get a loan to take care of my class schedule, and it was recommended I call Sallie Mae. I did so, and was approved for an $11,000 loan (split into 2 parts) within 24 hours. The next day after attending a Meat 101 class at Keiser I was called to the financial aide office and told I would need more financial support to cover my classes.
I left in tears, knowing I would not be able to find anymore funding and contacted Sallie Mae, to explain my situation and ask that we can cancel the loan.in which case, I was told, "Sure no problem. However, we've already written a check for the first $5,500 to Keiser so we will need them to send the check back." I returned to my counselor at Keiser the next day, and was told in so many words, "Sorry this is our policy. You signed the contract, and are now responsible for paying it back." I never even went to class, other than those first few days! I've also offered to return my unused knife kit, two chef jackets, and textbook, but have gotten little to no response from anyone at Keiser willing to work with me. I still have all my equiptment and would like a peaceful resolution with everyone involved. I have been reported to a collections agency, and have even applied for a mediation meeting with a Sallie Mae Recovery Agency, which is scheduled for September 13.
I was contacted on August 15 by a woman named Renee from the Sallie Mae Recovery Agency and it was explained I have till the end of the month to "find $4,800" which is a negotiated amount they came up with. My total originally was $6,800 from the cashed check that went to Keiser. I have no way to pay this amount in full to Sallie Mae. I'm a waitress, & I live at home with my mother, who has actually been in the hospital for over 2 weeks, and Renee told me they could perhaps take my car, or relinquish my wages if I cannot come up with the money. I have been to my local bank who holds my car loan to see if a another loan was possible to pay Sallie Mae back, and they have already closed out the loan, which dropped my credit score too low to be accepted for a loan & my car is not a usable form of equity I was told. I don't own a house, or even my car yet, so I don't know what to do.
I just feel completely swindled by Keiser and don't think it's fair they are allowed to do this to students. I realize I signed the contract, and should have read things more carefully perhaps, but I was in and out of the registration office in less than an hour. At first Sallie Mae seemed understanding, but have now changed their tone completely, and aren't really willing to work with me. I was making payments back to Sallie Mae for quite sometime, but have since been told "my $100 a month isn't really helping anything. My principle interest in too high." I don't know what to do, I really do want this to work out and not have my name or credit tarnished. I just am unsure what steps to take, next.
Please if anyone could respond and help me at all, I'd be so grateful.
Thank you,
Whitney Pemrick
0 comments