student loan to dispute

Submitted by Ruth on Fri, 09/11/2009 - 03:01

I have a student loan that I am disputing because they failed to help me obtain my GED or equivalent. How do I dispute this? Can I have my loan canceled completely? Any tips out there?

Sarah_123 (not verified)

Hi Ruth,

Have you repaid your loan? If you have done that and there is any incorrect information in your credit report regarding your repayment then you can dispute that information. Otherwise I am afraid you cannot directly dispute the student loan. You can try and work out an alternative payment plan and negotiate with the lender. Are you aware of the Income Based Repayment Plan (IBR) under which you can repay students loans based on your income and family size. However, there are some specific types of student loans that come under IBR such as Grad PLUS or Consolidation loan made under FFEL program or direct loan, and Stafford loans. If you know the category of your loan then you can check whether you are eligible for IBR or not.

In answer to your second question I would say that it is not easy to get the student loan cancelled entirely. There are terms and conditions based on which your student loan can get partially or entirely canceled. To be eligible for partial or full cancellation of student loan you must be involved in either social service or military service, teach needy students, practice medicine and help the poor. In case you are a victim of identity theft, your student loan can get canceled.

All the Best :)

Fri, 09/11/2009 - 08:55 Permalink

Hi Ruth,

Can I have my loan canceled completely?

Well, did you use up the loan amount? If not then I would suggest you pay back the loan. If the loan was of no use and you can pay back the entire amount then speak with a supervisor at the bank. He may be able to help you out with the cancellation process. There is no point disputing the loan because you do owe it.

Fri, 09/11/2009 - 09:58 Permalink