Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Feds as very flexible on deferments, payment amounts etc, as long as you keep paying what is currently due. If she loses her job, get a deferment right away. If she is having trouble paying, get an income contingent payment plan to reduce the payments to something reasonable with her income.
But whatever she does, she must never miss a payment. That will cause a chain reaction of bad problems.
Normally I would tell her to suck it up and pay her bills but Everest is known for fraudulent marketing to students including misrepresenting everything from tuition, cost of attendance, to employment opportunity after graduation.
Your friend should find out if there is a class action suit in her state and possibly join it.
Suppose there is a class action suit. Could they not still sue her and ruin her credit until it is resolved?
Why would she get sued? The school promised her a job and did not get her one. And yes most jobs require that if you don't have a degree then at least a car and driver's license or some experience in a retail or fast food or some other line of work otheriwse they won't take you.
Trust me I applied to Target, Toys R Us, Ross, all wanted people with experience over me with little experience.
School does not promise you a job or hand you one. What your "friend" makes of her own education is her doing. She needs to grow up and quit making excuses.
Many people have attempted class action lawsuits against schools they felt had lied to them; however, it probably won't get her out of paying her student loan debt since she borrowed and used the money. A class action lawsuit might just further ruin the school's reputation and possibly help to close their doors. When you are an adult, you are expected to have the reasoning skills to look into whether or not something is truly a good investment. It is your choice to take on the student loan debt to attend this institution, so why not research it on your own instead of listening to what they tell you? BUYER beware.
She would get sued if she doesn't pay her student loans for nonpayment of loans. If she goes long enough without paying or attempting to pay, they can choose to sue her and have a judgment placed on her credit.
Suppose there is a class action suit. Could they not still sue her and ruin her credit until it is resolved?
The school wouldn't be suing, it would be the company holding the loan, in this case Fed Loan. Credit would take a hit the moment she was late with a payment.
Legally speaking, she borrowed money and promised to pay it back. That is one issue.
The class-action suit is against the people she paid the money to. That is an entirely different issue.
The only link between the two is any money awarded in the class action suit could be used to pay back the lender, but the lender doesn't care where the money went, just that it hasn't been paid back. Any interest, late payment fees, credit judgments, etc. would still be placed against her, even if the class action suit were resolved in the plaintiff's favor.
A quick Google search of Everest College would reveal that they are a bunch of dishonest dirtbags handing out worthless degrees that no potential employer would ever take seriously. Do people even research the colleges they plan on attending anymore? And no reputable school would ever promise someone a job, the key word there being reputable.
So you, I mean your "friend," does or doesn't currently have a job..? If she doesn't, she needs to just bust her butt and find a damn job..walmart, fast food chains, waitress, hostess, etc..even internships to get your foot in the door somewhere. How is she living now if she can't afford an increase of $40-$50 in a payment??
School does not promise you a job or hand you one. What your "friend" makes of her own education is her doing. She needs to grow up and quit making excuses.
Many people have attempted class action lawsuits against schools they felt had lied to them; however, it probably won't get her out of paying her student loan debt since she borrowed and used the money. A class action lawsuit might just further ruin the school's reputation and possibly help to close their doors. When you are an adult, you are expected to have the reasoning skills to look into whether or not something is truly a good investment. It is your choice to take on the student loan debt to attend this institution, so why not research it on your own instead of listening to what they tell you? BUYER beware.
She would get sued if she doesn't pay her student loans for nonpayment of loans. If she goes long enough without paying or attempting to pay, they can choose to sue her and have a judgment placed on her credit.
Stop it. Thats not the point. The point is Everest is using predatory sales to target the lower class/uninformed. It promises job placement and great quality all the while delivering higher than normal tuition costs for unaccredited courses. Its as if they based their model off of the predatory mortgage lenders. Its one thing to say people need to be responsible for informing themselves, but its another to intentionally market crap to a demographic...knowing they are uninformed.
That being said if your friend is financed via the govt then Everest is not telling her what to pay, the govt is. There are payment deferral programs and income based repayment as an option.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.