Five Charged With $690,000 in Student Loan Fraud

Student committing fraud with student loads

There is a person who reported be a emancipated minor to get the state to pay for the education, her father owns a golf pro shop there are doctors in the family, there is a nice bank account, many cds worth 10s of thousands of dollars, they drive a new car goes on many cruises, and dont pay a dime for education but for books,this is going on for 2 years and is going to be a nurse, This is what is wrong with the system and kids that cant afford to go dont get the money or grant to go when a person like this should pay thier own way , HOW DO YOU REPORT PEOPLE LIKE THIS AND WHERE Thank You John Gallo

Student loan deadbeat

I keep getting bills from collection agencies for my former step daughter for approximately $75,000. I did call one agency and gave them all her contact information (she only lists a PO box as an address). What I find most appalling is that I know these loans can be paid as my ex husband died and left a significant amount of money to each of his children. She is a perfect example of how deadbeats ruin opportunities for people who are willing to borrow for education and then payback their loans.

Any Advice

student loans

In 1978 I enrolled in a nursing school and took out a federal student loan.I cancelled both the school and loan 10 days later when I was informed by a couple of nurses that this school was not a good school to attend and they were having problems(school closed down several months later)Dept of Ed now informs me that I owe on this loan that I cancelled 30 years ago,of course all papers I signed cancelling the class and student loan I threw out years ago,and records from the school were destroyed,so I can't prove anything.Dept of ED sold my loan too Pioneer Credit Recovery that does nothing but collects on student loans.They tacked on collection fees as well as late fees every month,have to be paid before the principle and interest is even touched.At this rate I will be paying on a 2500.00 for years something needs to be done about this scam that our goverment fully endorses

student loans

In 1978 I enrolled in a nursing school and took out a federal student loan.I cancelled both the school and loan 10 days later when I was informed by a couple of nurses that this school was not a good school to attend and they were having problems(school closed down several months later)Dept of Ed now informs me that I owe on this loan that I cancelled 30 years ago,of course all papers I signed cancelling the class and student loan I threw out years ago,and records from the school were destroyed,so I can't prove anything.Dept of ED sold my loan too Pioneer Credit Recovery that does nothing but collects on student loans.They tacked on collection fees as well as late fees every month,have to be paid before the principle and interest is even touched.At this rate I will be paying on a 2500.00 for years something needs to be done about this scam that our goverment fully endorses

loan fraud

how do you report someone who is defrauding student loans

Other Fraud "Beware!"

I attended a degree completion program and received $12,000 tuition through Dept Ed backed student loans. After completing several months of the program I was notified that my academic program plan had been re-evaluated (previously done as an application requirement). An additional 25 semester hous of courses were being added. The school did not offer the courses and because I was in the last 32 hours of the bachlors program was disallowed from taking the courses at any other institution and still receive the degree at the host school.

What was discovered later, is that the information provided to entice me and other students to register for the program did not include very specific qualifications required to graduate. A new catalog was being published but was not avialable to studetns at the time of registration.

We discovered that the school and the persons who presented the program, prior to registration, were the same individuals who wrote the "soon to be presented catalogue"...so they knew the information was being withheld.

CAN YOU SAY FRAUD!

i AM A VICTIM

Graduated in 1984 paid off my school loan in 1988. Retained courses after my loan was paid off, this is the only way you can retain any courses back at the same school, is if you have paid off the loan. i paid the school Delta school of business.

Now 2008 the us dept of education wants me to pay for a school loan that was paid back in 1988. i was told from one guy in the us dept of education that this is how the gov't runs. they wait 25-30 years to go back and collect for loans. because the gov't knows that you don't have proof of payment 25-30 years ago. and the gov't knows the banks no longer hold own to canceled checks.

so the us dept of education purposely steals from graduate students from 25-30 years ago.

The school i attended was Delta School Of Business. DON'T NOT GET A GOV'T STUDENT LOAN!!!!!!!!!!

I also have been a victim

In 1983 I took out a $2500.00 student loan from Sallie Mae to become a dental assistant. I was promised a low repayment plan, job placement, and high wages. I was 18 and fell for it. Anyway I graduated straight A's there were no high wages or assistance with job placement. I became a dental assistant I was making minimum wage which at that time I believe was $3.75 and hour. I admit fell behind in my payments.

My Dad received a lump sum payment before he died and paid my student loan in full in January 1985.

On 9/19/08 (yes, 25 years later)I received a notice of garnishment from my employer for 25% of my disposable income. As the collection agency who now has the loan states this was never paid. I have no proof of payment.

Therefore due to the criminal lending practices of Sallie Mae I am going to be forced to pay a debt (now over $8,000.00) I do not owe. I called the Better Business Bureau and the Federal Trade Commission they stated this agency Goldsmith & Hull is known for doing this. The last one they received a complaint for was from a person who's student loan was 30 years old.

I suggest anyone who pays off a student loan get the proof of payment tattoed on your body or they will contact you in 20-30 years and say it is still owed. I am disgusted my country allows this industry to do this to its citizens.

I was never even notified this loan was owed they did not serve me or mail me a notice. I have worked and lived in the same community for 25 years with a listed phone number.

I believe this is how they make their money. Thank God my original loan was for $2500.00 can you imagine if it was 10,000.00 I would owe $40,000.00.

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Common Sense

In my case I really wanted to attend one distance learning program because the school was a "brick and mortor" school. As a returning student completing a degree, divorced, age 42 - I am careful about the decisions I make regarding money. Lik e it or not, post-divorce the standard of my living went down 75% and I now live paycheck to paycheck.

A word of observation, many of the "virtual" schools that do not have a standard "campus" have accreditted degree programs, but employers are passing by candidates that attend these well known on-line institutions because the quality of the education is dismal. The student often doesn't know any better unless they have a tap into exactly what employers want.

Call a few recruiters, HR departments of companies you may target for work in the future and see what they thing about candidates coming from your school. It's well worth it in the long run.

When I finally selected the "IDEAL" program offering the exact classes I want, your looking at $20,000 a year for 3 years. Now the school was diligent, and they gave a complete financial breakdown of the first 6 months at $10,000. The degree program with most schools is 120 - 140 credits, this one is 180 making a 2 year plan for me (I have 55 credits) a three year plan. So you are looking at $20,000 a year with $7,000 being in subsidized loans. Private loans or out of pocket would be another $13,000 a year just for tuition (no books, or other miscellaneous expenses).

So you are looking at a $60,000 bill at the end with payments upon graduation being between $600 - $700 a month.

The reality is, a degree at my age will open doors and make me more competitive in the marketplace making it easier to select the right opportunities that make me happy, but salarywise, I could expect maybe a $400 - $500 maximum increase.

At 42 I am nuts to go into this kind of debt paying until well into retirement.

So as much as I like this school, State College it is at an estimated total cost of $20,000. At the end of the run, I will not only have a little more to hopefully build savings and some kind of retirement, but given my existing salary - worst case scenario - should be able to pay the total loan amounts inside of 5 maybe 6 years depending on the gas prices and other economic woes of today.

Don't listen to the sales pitch, take time to look at the documents and know what your getting into. If I went through this at even age 25 or 30 I would have fallen prey to a huge bill taking the pressure to sign documents. They paint a picture of your future being "better". It's all true, but you have to really look at the bottom line expenditures.