Can a college hold back your transcript on a loan?

Can a college hold back your transcript on a loan?

Postby cathaoir100 » Thu Mar 17, 2011 8:27 pm

I got a $8000 loan from my college in my LAST be semester of school because my gov. loans were maxed out from what they told me. I Graduated with flying colors and have a promotion on the line, but the school won't release my transcript now until i've paid off the student loan. Is that even legal? I've had that loan 6 mos and they want all they're money now? I've tried to get a personal loan to cover that loan to no avail and used any gov. loans I could get with the schools help. What other options do I have? I need that promotion!
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Can a college hold back your transcript on a loan?

Postby morvran10 » Thu Mar 17, 2011 8:29 pm

A college can not or will not hold back your transcript if you owe money on a loan. They are not the lender. Your loan and the school transcript have nothing to do with one another. The school will hold your transcript if you owe the school money. When you signed for the loan you were given an amortization schedule. If you make payments based on this schedule the lender cannot demand full payment. They can require that you begin making the repayments.
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Can a college hold back your transcript on a loan?

Postby palban30 » Thu Mar 17, 2011 8:30 pm

A college can not or will not hold back your transcript if you owe money on a loan. They are not the lender. Your loan and the school transcript have nothing to do with one another. The school will hold your transcript if you owe the school money. When you signed for the loan you were given an amortization schedule. If you make payments based on this schedule the lender cannot demand full payment. They can require that you begin making the repayments.
I have never heard of a school giving out loans to students. Scholarships? Yes. Loans? No. I agree with Mrs. Ziering that the loan has nothing to do with your transcripts. What school do you go to? I would speak to a financial aid representative to see if you can set up a payment plan to pay your debt off gradually; most lenders will do that.
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Can a college hold back your transcript on a loan?

Postby benedictson89 » Thu Mar 17, 2011 8:31 pm

The best advice I was given is to be sure you search for all the scholarship grant that you meet the requirements for, you might have missed some.

I found and got accepted to one for California State University using the site below, you probably could as well.
myschoolcashnetwork.tk
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Can a college hold back your transcript on a loan?

Postby danylets16 » Thu Mar 17, 2011 8:33 pm

I had the exact same question recently. Save yourself some time & go through over here quickstudentdebtconnect.tk
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Can a college hold back your transcript on a loan?

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