Co-Signed Student Loans

I have one of their statement's in my hands ...National Collegiate Trust goes under "American Education Services" 1-800-233-0557 7:30 am to 9:00 pm EST ........ www.aesSuccess.org Hope this is useful !!

If you are in default, the guarantor will not talk with you. You will both need to deal directly with the collection agency handling the account. Your guarantor has contracted with them.

Nct number 800-214-9320

Greetings everyone!
Thank you for having this forum guys.
Anyway, a friend of mine went back to her home country. She was promised a scholarship but got a co signer loan instead. Economy is pretty bad where she is now and she is not able to pay it back anymore. However, a guy who cosigned her loan was the one who promised the scholarship. She was making the payments regularly up until now. What is there for her to do now, since she has NO MONEY? Sallie Mae is where she got the loan from.

Thanks!

Is the cosignor in the US? He will get nailed for the loan first.

Sounds like a big scam to me....individuals do not promise scholarships....schools do.

Hi,

If you are not able to contact them,what you can do is send them a written mail. Their mailing address is as follows

National Collegiate Trust
237 Park Ave Ste 21
New York, NY 10017-0010

It is possible that their phone no has been changed,you can as well search it on the yellow pages !!!!!!!!!

National Collegiate is handled thru AES....they will not respond to written letters.

How can I tell if the loan I co-signed for is a federal or private, and is there a way to find out if the loan was sold?

Only private loans need a cosignor and they are never sold to collection agencies or junk debt buyers. Sometimes they are however sold to another lender or defaulted back to a guarantor. Who was the lender? Have you checked your credit report?

National Collegiate Trust

They sent mine to this collection agency:
NCO Financial
800-236-3100

See if this helps.

daisy2502

C.an a CA go after the cosigning parents if they were not informed the loan was
delinquent. don't co-signers have a right to make the payments so loan doesn't go to a ca.

If a CA is involved,it sounds like the loan is defaulted, not just delinquent. And the co-signor has the responsiblity to make the payment, even if they are not informed.

Did the lender/servicer have all the correct up to date contact info?

Does National Collegiate Trust even exist? How is it that they can report you to collection agencies without having any contact information? This is a joke!

You contact them via the collection agency.

NCT and AES are nothing more than loan sharks! It's bad enough that you have to resort to getting private student loans but they charge you high interest rates on each disbursement. They will not consolidate your loans for one monthly payment and options are limited. The best they can do for a 3 month period and charge you $50 on each loan....if you have say 20 that is $1000 a month!! Totally unreasonable!! I can't find anyone to talk to at NCT and AES just flat out says unfortunately we don't have any other option for you. So, they rather you not pay at all then work with you to make reasonable monthly payments. Yes, they are a JOKE!! I'm talking to an attorney.

This is no different than any other private lender. You signed a prom note agreeing to terms, including balance in full on demand upon default. All an attorney is going to tell you is to read yoiu note. He can't change it. So talking to an attorney is somewhat a waste of money.