I am right now seriously hating my youngest daughter's college, financial institutions, and the financial administration of my daughter's school.
She left for Linfield College in Oregon on August 24, and the bankers won't be at the college till October 20th for their interviews of the students to decide whether they get the student loan or not. So what, they have the kids attend school for two month racking up some school costs before letting the student know if they have the money to pay for their first year of their education!!!!!!! WHY THE FUCKING HELL TO MAKE THEM WAIT THAT LONG WHILE THEY ARE IN CLASSESS??!!!
Before she left, my wife was on the phone with the financial department trying to get straitened out all the financial paperwork so our daughter can get the loan and the numbers strait. Well we thought we were talking to someone who is supposed to know how to do it, but by following their directions, calculations, and number inputs it almost fucked up out daughter's monetary amounts for school. We did not find out how fucked up it got till the night before she was supposed to be getting on the plane. We thought it all got cleared up right after that. WRONG!!!!!
About a week later we get a call from the finance department that there is some confusion and they want to know who will she be getting the loan from, especially when we had already witnessed her filling out the loan application and inputing it's data onto her school forms. They stated that those were the wrong forms. She still owes money so she has to go for another loan in addition to the one they claimed is only the Stafford Loan, which only covers an extremely small portion of the remaining balance.
They tell us that she needs to have a parent cosigner, my wife and her ex who's our daughter's biological dad both tried to cosign but it was denied, so the school kicked in a few more thousand to help and lower the remaining balance. We still were talking to them, and it was suggested that if the cosigner(s) were denied she could try for a personel private student loan, but at a much higher interest rate.
When I asked the lady how much that would eventually cost with the interest, she stated, "Well I can calculate that out for you but I would have to call you tomorrow with the answer for that's how long it would take to figure." WHAT THE FUCK IS THAT SUPPOSED TO MEAN???!!!!! DOES THAT MEAN FOR $3K SHE WOULD END UP PAYING SOME ASTRONOMICAL AMOUNT IF SHE DOES NOT HAVE A COSIGNER APPROVED BY THE BANK!!!!!
A couple weeks have passed and we have not heard anything about it, not even by our daughter, so we think that it got all straitened out. Well wrong again for we got a message from her last night that it's not working still. She still needs a cosigner or she's screwed. They also tell her that her balance is $37K!!!!!! What's not right about that is the school's cost for the year is only $33K and she already has $19K from grants applied to it, leaving a remaining balance of $14K, then minus another $4K from the Stafford Loan, and then minus the additional $7K from the school. The remaining balance should only be $3K!!!!!!!!!! HOW THE FUCKING HELL DID THE REMAINING BALANCE JUMP AND ADDITIONAL $34K!!!!!!!!!!
We tried cosigning another loan but we got denied cause of our credit history. The bank also stated that she can't get the loan on her own cause she's 18 with no credit history. The could only give her the student loan if she was 18, has credit history, and has an annual gross income of $13K. This means she has to have a full time job making around $6.77 an hour for full 40 hours a week just to make that minimum annual income. The bank states that no institution nor private lender will give a student loan to a student that has no credit nor cosigner.
Where she is at, minimum wage is barely $5.75 an hour, and plus she has a full set of classes, meaning she can't even get a full time schedule of work in a very small town. She has no car, they have no busses, and no taxis. All the jobs are on the other side of town 7miles away.
Overall this is an extremely fucked up situation. If she decides to stay there, she has to find a way to get a loan via a miracle or come back home and go the the community college for a hell of a lot less money. Our oldest daughter is currently attending our community college for only $900 for a full year!!!! Tis sad that our youngest already feels that if she comes back home she's going to be a loser with people thinking she could not make it even though it's a completely different situation, also even more that she personally feels and states that community colleges are not real colleges and they are just a joke with no real education.
I swear something really needs to happen or things are going to get a lot worse then they really are.
I'm going to go now as me and my wife are trying to call that stupid financial admin lady again and attempt to strangle her through the phone. We need to know all that is really going on and the real numbers for amounts that are being shifted around.
