Friday, February 12, 2010

I owe $5,000 in school tuition and my college won't give me my transcript to go back to school.?

I don't qualify for a personal loan because my tuition is on credit so now I'm stuck with a dead end job and can't go back to school and finish. By the time I'm finished paying it off, I will be 35 (the rate I'm going.) Can I start over and pretend I never went to college or wait to pay my tuition off so I can get my transcript? I'm so desperate and really want to go back to school.I owe $5,000 in school tuition and my college won't give me my transcript to go back to school.?
I was/am in the same situation you are in. The thing is you can't attend another school w/out that transcript. You can not receive any financial aid w/ out your transcript. Because you are out of school due to the debt you can't get student loans (although there are a few student loans out there that will allow you to use the money to pay off old debts--- if you are planning to go back to the same school you owe, that's why I couldn't get those type of loans)





http://www.salliemae.com/content/tuition鈥?/a>





https://www.wellsfargo.com/student/under鈥?/a>





My suggestion to you would be either buckle down, budget, and attack that debt as quickly as possible (*I got a second job and live w/ my mom*) or get a personal loan from a bank or some other institution to pay them off now(*after I paid nearly a third of my debt I got a personal loan to pay off the rest and I have monthly payments of nearly 150) or try for a personal student loan /alternative loan to pay the school back if you are looking to go back to the same school.I owe $5,000 in school tuition and my college won't give me my transcript to go back to school.?
You will have to pay your debt. Perhaps you can borrow it from someone and make payments to them interest free. Then you can go back to school.
If you owe $5000, then you could not tell the new school that you took other classes. But, if you want financial aid, you will need to fill out the federal financial aid forms, and that clearinghouse will have your full records.





So, it is doubtful that you will be able to return to school without paying off the $5,000 you still owe.
Unfortunately they generally will not release your transcript until the amount is paid. If there's a chance to setup a payment plan or go back to that school, then take it. You also can't just go to another school and pretend to start over, there is generally a record that you went to school already and they will want the transcript.





In Texas they have a fresh start program but you have to wait 10 years until you can have prior credits ignored (if you so wish).
Make more than your minimum payment for the money you owe. All it takes is a little sacrifice to get out of debt.

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