Can a student loan issuing company (private bank) force you to pay off the student loan before you graduate?
Basically…I attended a 4 year university in California a few years ago and during that time I had a family emergency that caused me to stop attending school for awhile. I have since resumed attending school, but one of the former banks is insisting that I pay off the student loan even though I am still attending school. Is that legal? Can I take them to court to stop trying to collect since I’m still a full-time student? Can their actions disqualify me from obtaining any future financial aid. Please help me with your suggestions. (especially if you are familiar with Financial aid rules or have been in a similar situation). Thanks
If you are still in school no. It is called a deferment. They can only make you pay if your at in school 6 months later. That is stated in all student loan contracts. Go to your financial aid department and let them know. They should send a letter to the company to let them know you are in school and you want a deferment.
