University Of Phoenix
Ripoff University cancelled my unsubsidized loan without my knowledge

The University of Phoenix received both the subsidized and unsubsidized loan, as required, but "sat" on the unsubsidized loan without cashing or using it for my education. The issuing Bank verified that since the original check was returned to them, uncashed, it constituted a cancellation of my loan. At the time of issuance I was in attendance with no withdrawals of any kind. No refunds were due until withdrawal.

Meanwhile I was noted as "withdrawn" penalized, etc., etc. I began to wonder why and finally withdrew to avoid more out of pocket costs I could not pay. After this, the university returned the original, uncashed check, to the bank and labeled it a "refund". I call it a rejection of the loan.

It doesn't matter according to the bank when the check was returned, since it was the original uncashed check. What the bank did was backdate that check to its issuance date.in that way I was not charged interest on it. Unfortunately, the bank shreds such returned checks, but backs up the receipt entry.

Has anyone read the case of the two California Real Estate people who were hired as enrollment counselors? It is very interesting, especially as to claims that counselors are told not to advise students. I was hindered by this behavior.

Now I am in collection with no way to pay unless the university will reopen the loan. I tried once before and UOP claimed that they had to receive their charges (in excess of $1,700.00) before they could reopen the loan. The bank advised trying again to get the University to reopen the cancelled loan so that I can get the federal loan balance needed to pay off their excessive charges. AS far as I know, cancellation means that the loan the university originally was paid in full.

I need to join other students in a possible suit against the University.

Company: University Of Phoenix
Country: USA
State: Arizona
City: Phoenix
Address: 3157 E. Elwood St
Phone: 6023876213

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