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sallie mae has screwed my boyfriend over big time. they kicked him out of school when they wanted their money at the end of the first year. he went to Brooks Art Institute in CA where they encouraged him to take out a 40, 000 loan for Sallie Mae. (for 1 year!) obviously he didn't graduate and now they somehow expect him to pay $500 monthly which is practically impossible to manage that payment without a degree. now his credit is screwed and he can't do anything. the state of CA has a class action suit against Brooks which involves how the school and sallie mae "jipped" students out of degrees and into debt. don't know what to think of this all? we have a baby on the way and there's no way we can buy a house now because of it. anyone have any advice on negotiating with sallie mae?




Ok...SallieMae did not screw your bf over. Sallie Mae is a lender, not a school. Your bf signed a prom note to go to the school of his choice...sallie mae did not guarantee that education, only access to an education. Nobody forced him to sign the note and now it sounds like the loan is in default.

Sub: #1 posted on Thu, 07/17/2008 - 15:36

SOAPLADY SOAPLADY
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I agree soaplady. But, I want to know how they justified a $40,000 loan for just a year, knowing that a student just coming out of school doesn't usually get a job right away. And besides student loans usually give a 6 months grace period after graduation. It definitely sounds like either some info is missing or this was a real scam. But, until then this is definitely a debt that has to be dealt with. Guest---have you tried claiming a "financial hardship forbearance"?

Sub: #2 posted on Fri, 07/18/2008 - 00:17

Lorri Lorri
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Schools like Brooks are private schools...meaning they are for profit. However $40k for tuition, books, equipment and living expenses is not uncommon.

Reading the OP's post over it really sounds like th BF did not manage his loan properly and allowed it to default. Just from the description that the OP gives, it sounds like neither of them understand the difference between the school and a lender.

Sub: #3 posted on Fri, 07/18/2008 - 06:57

SOAPLADY SOAPLADY
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True---Now that I think about it $40k isn't that much (I was forgetting everything they figure into the loans.

Sub: #4 posted on Fri, 07/18/2008 - 10:10

Lorri Lorri
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If it's the Brooks Institute in Santa Barbara, $40,000 is cheap! Cost of living there is UNREAL and was the single factor is why I moved away from there 15 years ago.

Rent back then was $1300 for a 2 bedroom apartment, I can only IMAGINE what it must be now!

Moving away from there is the best thing I ever did. Of course, I do miss the beach and the weather, but there are always trade offs, right?

Sub: #5 posted on Fri, 07/18/2008 - 10:19

smo65d11 smo65d11

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There is also a Brooks college in Long Beach, California. I don't know if when loan amounts are figured do they use local housing markets to estimate housing costs or is it a national average or something.

Sub: #6 posted on Fri, 07/18/2008 - 19:09

Lorri Lorri
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Housing is based on local costs. At the school I worked at, every year it adjusted based on local costs.

Sub: #7 posted on Fri, 07/18/2008 - 21:19

SOAPLADY SOAPLADY
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basically anywhere in coastal California is obscenely expensive

Sub: #8 posted on Mon, 07/21/2008 - 05:44

smo65d11 smo65d11

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I have never lived anywhere but SoCalifornia, so I have nothing to compare prices to.

Sub: #9 posted on Wed, 07/23/2008 - 14:23

Lorri Lorri
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i went to brooks in long beach and im kind of in the same boat as your bf. after being in the school for two semesters i was called into the financial aide office and told that i was short on the amount needed to continue my education. basically sign this paper or youll be out on your ass is what i was told. being 18 and in a different state.....i signed. i oringinally request 10K. it was turned into 15K by who i do not know. tell your bf that if he needs to pay them something. even if its 50 bucks a month. as long as hes giving them something, they cant touch him. as far as the class action suit goes......the school was on 60 minutes right after i graduated in 03. as far as i know then suit is still going on. who knows if any of us will ever receive a penny.

Sub: #10 posted on Thu, 07/31/2008 - 14:11

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