Transcript hold question

Discussion in 'General Distance Learning Discussions' started by monkeybone, Jan 19, 2004.

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  1. monkeybone

    monkeybone New Member

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    Here it goes.

    While trying to send my transcript to Excelsior college from a previous university I went to, I get a letter from the university stating I have a hold on my transcript. The hold was placed due to the loan balance I am currently paying off. I have been paying monthly payments that I scheduled with them and have yet to miss a payment. My question is, are they allowed to hold your transcript unitl you repay the full amount of your loan? If so, it's going to take me a while to repay it off. I'm confused or am I SOL.
    Been trying to contact them for a couple of days now to get some answers and only playing phone tag.

    Thanks and would appreciate any input.
     
  2. Orgaknight

    Orgaknight New Member

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    Occupation:
    Business Analyst
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    Tallahassee, Florida
    Student Loan Problems

    My wife (now ex) encouraged me to take out student loans, while I was in school. I did this with the expectation that she would help me pay them back. We divoriced and guess who got stuck with making the payments?! Well between that and child support, I could only afford the child support at the time and had to default on the loans. This caused me big trouble because of transcript holds which can cause you limited options for employment and bring future education to a near stand still! Fortunately, I fould out about a federal program that refinances your defaulted loans and gives you a second chance! There are a couple of programs, one being loan rehabilitation (I think about one year of repayment) and consolodation. Here is the link and I hope it helps you like it did me. I am now back on track with loan in good standing. http://www.loanconsolidation.ed.gov/
     
  3. Rich Douglas

    Rich Douglas Active Member

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    It sounds like we're talking about a private, financial arrangement with the school and not federal student loans. (Federal student loans would have been used to pay the school. The school would not, therefore, have a reason to put a hold on the transcript.) If this is the case, you still owe money to them. Most (all?) schools will do this if you have outstanding obligations. The payment plan they've agreed to merely stops any collection procedures they might consider.

    Sounds like you'll have to find a way to pay them.
     
  4. Orgaknight

    Orgaknight New Member

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    Occupation:
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    Follow up to last post

    Rich,

    Sorry to say, but at least in Florida, if you are in default on any federal or state student loans, state universities and state community colleges are required to put a hold on transcripts until the situation is corrected.

    I'm not sure if this is true in all states, but based on the poster's information, it sounded like a long term debt, usually incurred by these pesky loans. My advice to all is if you are considering getting these loans....unless you are going to be an MD is DON'T DO IT!!! Find an alternative.

    Been there, done that, have the "t" shirt.
     
  5. monkeybone

    monkeybone New Member

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    I'm screwed, but thanks for responding guys.
     
  6. Myoptimism

    Myoptimism New Member

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    I was in a similiar situation when I was trying to enroll at UIU. I called my former school and explained the situation to the head of the financial aid department. In the end, after her asking if I was a 'boy scout' and my replying in the affirmative, she agreed to release my transcripts. Perhaps you could convince your former school your are trustworthy, kind, et cetera. :D The situation was a bit surreal, but it worked out all right.

    Tony
     

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