Lynn/ anyone, I need some information........

[Got FICO?]

Lynn, I started looking at my credit report more specifically my student loans from 2001-2003, which show a bunch of 120+ delinquents. I knew that I didn't miss any payments then it dawned on me that I was a full-time grad student at that time. I also remember going through my college's sl office quite frequently requesting that they report to my lender that I was in school. I also remember many telephone calls to them about the situation.

Is this a situation that will be easily corrected? Aren't loans automatically supposed to go into deferrment while the debtor is in school.

One more question, is the interest on the loan also deferred b/c in 2004 they sold my s.l. to a lender in my state and if the interest was supposed to be deferred, I wonder if they collected on that?

"I think what I wrote makes sense, let me know if it doesn't, I have been known to ramble"

Anyway, any help is appreciated!!!

[Got FICO?]

BUMMMP

[LynnInMN]

Lynn, I started looking at my credit report more specifically my student loans from 2001-2003, which show a bunch of 120+ delinquents. I knew that I didn't miss any payments then it dawned on me that I was a full-time grad student at that time. I also remember going through my college's sl office quite frequently requesting that they report to my lender that I was in school. I also remember many telephone calls to them about the situation.

Did you by chance switch schools?? A different school for grad school vs your undergrad?? If so, and they were FFELP loans I think I know what happened. With this type of situation, the onus is on the student to make sure that the in school deferemnts are submitted. This usually means taking the paperwork to the FA office, having it signed and mailing it yourself. Even if the lender was the same, they have no records of the undergrad loans. It is a common problem for grad students and FFELP lenders. I worked for a Direct Loan school. Grad students would send us emails to defer their undergrad loans.....giving us no info. We could not automatically defer FFELP loans...they had to bring us the paperwork yearly or each semester.

Is this a situation that will be easily corrected? Aren't loans automatically supposed to go into deferrment while the debtor is in school.

Automatically no.

Fixing this is basically impossible. Too much time has passed and if the deferement papers were not received, the lates stand..

One more question, is the interest on the loan also deferred b/c in 2004 they sold my s.l. to a lender in my state and if the interest was supposed to be deferred, I wonder if they collected on that?

If your loan is late, they had you in repayment which means your interest was accruing.

"I think what I wrote makes sense, let me know if it doesn't, I have been known to ramble"

Anyway, any help is appreciated!!!

[Got FICO?]

Lynn, yes I was a grad student and it was a different school. I participated in an online program and my home school was in a different time zone and I never stepped foot on campus. But I do remember calling quite frequently between the two agencies to get the deferment and getting them faxed and submitted.

What would be the best way to TRY to remedy this?

[LynnInMN]

Unfortuanately with some much time past, you wont be able to do anything. In a case like this you cannot depend on agencies to coordinate, particualrly with faxing. What we used to have evening students do was print off the deferment papers from their lenders and have them send mail them into us with a pre addressed envelope.