Watch out for loans

[maggielle]

I went to Kaplan and after I dropped out they kept adding to my loans after I stopped going. They were collecting money from my bank that I wasn't using and I couldn't get that money back. Becareful what they have you sign when you start. Citi bank was the other culprit, I'm pretty sure it's a win win situation for the both of them. One gets money for nothing and the other collects my interest.

[technoflutemom]

I had a similar experience with AmEx. I had an education line of credit through them. Paid it off, cancelled it, but still got a bill the next year. It must happen all the time, because they knew just how to fix it when I called.

[tater03]

Thank you for this information. This should be a heads up for all people to watch exactly what they sign up for. One question though, why couldn't you get your money back?

[Kyle]

I went to Kaplan and after I dropped out they kept adding to my loans after I stopped going. They were collecting money from my bank that I wasn't using and I couldn't get that money back. Becareful what they have you sign when you start. Citi bank was the other culprit, I'm pretty sure it's a win win situation for the both of them. One gets money for nothing and the other collects my interest.

Yep I heard the same story from students all around the U.S complaining about payment it is not only Kaplan who does it but all of them are the same.
Even I heard stories from Michigan state University.

Billing department should be nagged constantly even if you receive a NO.
Keep calling ! till you get what you want !
After all it not their money, and if you give them a hard time they will bend down.

DO NOT NAG VIA EMAIL it does not help.
Only by phone or by person to person.

Hope this advice helps you getting your money back, if not just call a lawyer just make sure in the beginning of the meeting ask him how much will it will cost you the whole process, normally one letter from a lawyer will scare them away.


Good luck.
and be persistent.:mad:

[karenlyn]

This is why I try to pay everything via check! You never know when somebody is going to decide to take advantage or overlook a change in your billing status. This is SUCH a sucky situation, and I really feel for you. I hope you get it worked out.

As if schools loans weren't heavy enough a burden without all this.

[LilOne1989]

I went to Kaplan and after I dropped out they kept adding to my loans after I stopped going. They were collecting money from my bank that I wasn't using and I couldn't get that money back. Becareful what they have you sign when you start. Citi bank was the other culprit, I'm pretty sure it's a win win situation for the both of them. One gets money for nothing and the other collects my interest.

What do you mean they kept adding to your loans? Maybe I'm misunderstanding that but it sounds like you are saying they kept sending you money. I'm sure I'm misunderstand this but it is how I'm reading it. If you are talking about the interest, it is a killer and a fact of life, this is how they make money. The longer you have a loan out the more money they make. It is one of the reasons they are so happy to extent your loan, they get a few more bucks.

If you signed up for an automatic payment they will take the money every month that money is there and legally they can but if you have called them and told them, or written them and told them that you want to change your payment arraignment and the refuse to listen to you (it can take a month or more for the change to take place) then take the money out of the account or close it altogether and open another account they can't access. Then when they find no money they will contact you really fast looking for other alternatives to get their payment.

You can't just stop paying them cause they will go after your tax returns and take any money that you might otherwise have gotten back in a refund, they can also go after your actual paycheck. If you can't afford to pay them back right now see if you qualify for a deferment or a forbearance for a few months.