Will this affect me getting student loans?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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spleenworship
Posts: 4421
Joined: Thu Aug 11, 2011 11:08 pm

Re: Will this affect me getting student loans?

Postby spleenworship » Wed Jun 20, 2012 7:44 pm

JohnV wrote:No they won't because the loans weren't suppose to be paid until 2014. Right now, the loans have nothing screwy about them.



Wait, wut? 2014? So have your parents forged your name to loans that they obtained and then spent, or haven't they?

Because when you enter repayment isn't the issue. If I use my student loan money to go to Cancun my ass has committed fraud the moment I bought the damn tickets unless I have a summer class is in Cancun. The fraud with student loans happens when you spend the money obtained illegally on things the loans are not meant to be used for.... not when you fraudulently promised to repay said loans.



I really get the feeling nothing I say will convince you. But if you do go through with your "I'm not putting mom in prison" plan (though she could possibly plead down from there), I don't want to see you on TLS or ATL or the NYT complaining about how you got screwed out of being an attorney by your parents. Because you know what? You are at least 20 fucking years old. The only one potentially screwing you out of it is you. Act like a responsible adult, like your parents DIDN'T, and do the right, honest, moral, and slightly selfish thing, and turn your parents in. A few years ago when my dad tried to get me involved in a semi-shady real estate deal I turned him down because I was an adult. If he had forged my name to a real estate contract that indebted me for thousands of dollars and ruined my chances of passing C&F I would be turning him into the DA's office quicker than shit... while, at the same time, calling the best defense attorney I know to represent my dad. I'd probably also apologize to him to for turning him in. I'm not heartless, and I wouldn't want my dad to suffer unreasonably, but there is a line.

2012JayDee
Posts: 113
Joined: Tue May 29, 2012 10:49 pm

Re: Will this affect me getting student loans?

Postby 2012JayDee » Wed Jun 20, 2012 7:50 pm

[deleted]
Last edited by 2012JayDee on Sun Sep 02, 2012 10:33 pm, edited 3 times in total.

JohnV
Posts: 279
Joined: Sat Jan 02, 2010 8:29 am

Re: Will this affect me getting student loans?

Postby JohnV » Wed Jun 20, 2012 7:53 pm

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Last edited by JohnV on Sun Sep 02, 2012 8:09 pm, edited 1 time in total.

flcath
Posts: 1502
Joined: Fri Nov 06, 2009 11:39 pm

Re: Will this affect me getting student loans?

Postby flcath » Wed Jun 20, 2012 8:20 pm

If you're willing to eat the current outstanding debt then this can be handled simply. Pay off the current debt with your first year's student loans. LS admission won't be an issue, nor will acquiring loans (the DLs don't do a credit check at all and the PLUS's are cursory); if an issue exists it's with the bar. Neither the bar nor anyone else will make a stink about you using the federal loans for this purpose--I couldn't find a single case of a (real, non-dropout) student getting in trouble for (non-fraudulently obtained) loans being misspent. The money is for educational expenses, which can be almost anything if you're in school.

If you don't want to narc on your parents (who deserve it, but I understand), then I don't see any way out of the current debt. In my experience--which has been with much smaller numbers and a far more remote relationship than parent-child--debt forgiveness goes hand-in-hand with cooperation with their inquiries. Bear in mind, my experiences are also with consumer debt, the law for which tends to favor the debtor more than student loan debt.

Edit: I'm sorry you're in this situation; seek the advice of an attorney; and good luck!

JohnV
Posts: 279
Joined: Sat Jan 02, 2010 8:29 am

Re: Will this affect me getting student loans?

Postby JohnV » Wed Jun 20, 2012 8:28 pm

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Last edited by JohnV on Sun Sep 02, 2012 8:10 pm, edited 1 time in total.

2012JayDee
Posts: 113
Joined: Tue May 29, 2012 10:49 pm

Re: Will this affect me getting student loans?

Postby 2012JayDee » Wed Jun 20, 2012 8:30 pm

[deleted]
Last edited by 2012JayDee on Sun Sep 02, 2012 10:34 pm, edited 1 time in total.

flcath
Posts: 1502
Joined: Fri Nov 06, 2009 11:39 pm

Re: Will this affect me getting student loans?

Postby flcath » Wed Jun 20, 2012 8:37 pm

Yeah, yeah. I actually thought about adding an "Edit2" to clarify this, but I thought it was obvious. (Not obvious generally, but obvious given the plan I outlined.)

This plan only works at schools where you get a significant scholarship. At such schools you can typically take out well over your actual CoA in federal loans. This is my situation, so I can speak firsthand.

As to the ability to obtain loans, as I said, the DLs (the first $20.5K) require no credit check, while the PLUS's requires a cursory one. Regardless, to exercise this plan, you can't go paying sticker somewhere.

JohnV
Posts: 279
Joined: Sat Jan 02, 2010 8:29 am

Re: Will this affect me getting student loans?

Postby JohnV » Wed Jun 20, 2012 8:50 pm

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