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Lender Wants Student Loan Repaid While the Borrower Is Still In School

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  • 11-27-2007, 06:18 PM
    purple
    Lender Wants Student Loan Repaid While the Borrower Is Still In School
    Hi. I have a private student loan through Citibank. I am still in accredited online school full-time in California--live in Canada-- yet they started demanding repayment several months ago. My question is, "Do I have to pay back this private student loan while I am still attending school full-time?"
    I explained to citibank that I am in school F/T and that I am only receiving student loans, and that I can't afford to pay back any loans until I graduate. They insisted this makes no difference--I must pay up.They harassed my mother by phone, and threatened default. They finally settled on back-dated forebearance a few months ago. It runs out in soon. I don't know what to do. Thanks for your help.
  • 11-29-2007, 08:39 AM
    Mr. Knowitall
    Re: Lender Wants Student Loan Repaid While the Borrower Is still In School
    You need to check the terms of your loan contract.
  • 11-29-2007, 05:33 PM
    purple
    Re: Lender Wants Student Loan Repaid While the Borrower Is still In School
    Thanks, but unfortunately I lost it. Afraid to ask them for it, as they have made more threatening threats every time I tried to talk to them. I'm afraid they would not give me the true contract, but one that supports their best interests, not mine. Can they do that? Thanks again, Purple
  • 11-29-2007, 06:11 PM
    aaron
    Re: Lender Wants Student Loan Repaid While the Borrower Is still In School
    If you ask, I would expect them to provide a bona fide copy.
  • 11-30-2007, 04:53 PM
    purple
    Re: Lender Wants Student Loan Repaid While the Borrower Is still In School
    Thanks Aaron.
    I certainly hope they would provide a bonafide copy, but, from the way they keep changing their stories, I don't have as much faith as you do. However, I expect you have more experience with this sort of thing, and I will heed your suggestion, and ask them for a copy.
    If I might continue with this issue...If I offer to pay a lesser payment than they are asking for--this varies considerably with each new mailing--due to my continued school attendance and non-work, do you think a court of law might back me on this. I simply can't pay what they are asking for. I don't want to go into default either. Anyway, thanks for all the help guys. Purple
  • 11-30-2007, 05:08 PM
    aaron
    Re: Lender Wants Student Loan Repaid While the Borrower Is still In School
    I would expect a court to uphold the contract.
  • 12-01-2007, 02:24 PM
    purple
    Re: Lender Wants Student Loan Repaid While the Borrower Is Still In School
    Thanks for everything. Purple
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