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  1. #1
    Join Date
    Apr 2009
    Posts
    6

    Default Student Loan Interest While Waiting for Tuition Refund

    My question involves collection proceedings in the State of: Florida

    I have two questions... ill try and keep it short and simple..

    I left a private medical school almost a year ago, not even mentioning how unsuited the school is to begin with. I am still waiting for my refunded tuition to be refunded bank to my bank, while interest is building up on the full amount, instead of the refunded reduced amount. It doesn't seem like the school is going to pay the difference, even tho i have been constantly bugging them about it. So do i have grounds to force payment of the difference of accrued interest?? Would i be able to get more? considering other factors of how unsuited the school became?

    2nd... with the banking situation in full blown emergence now, it seems like in my instance wachovia had no money to be giving away in the first place when i received my school loan???? I doubt that they had the correct amount of "reserve" allowed, but never the less it would seem to be a direct breach of contract to simply create "money" out of book keeping manners.?!?!?!

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Student Loan Interest While Waiting for Tuition Refund

    You owe interest pursuant to your loan contract.

    You get your refund of tuition pursuant to your contract with the school.

    If the school gives you a timely refund under your contract with your school and you end up owing interest, that amount is yours to pay, not the school's.

  3. #3
    Join Date
    Apr 2009
    Posts
    6

    Default Re: Student Loan Interest While Waiting for Tuition Refund

    I paid the full tuition amount threw my loan ($30,000)

    Once i left my school, i was to be refunded $18,000

    Its been 11 months since i left school, and they still have not refunded my tuition back to my bank. I should be accuring interest on $12,000, not $30,000 over the last 11 months....

    are you saying the school is not responsible for the difference of interest on that large of a number?

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