cabooskins

That's you guys. As drunk as I am right now, I know that was you that I seen. I totally bought a copy of your white cassette tape when it was still Young Americans. Wow, I almost remember the songs. Thanks for the nostalgia trip.

I think you guys stopped at my middle school in like '99. Do you remember being in a farm town in Ohio?

Awesome AMA, I read in this thread about the fact high school doesn't really focus on personal finances, I just wanted to agree.

My question however, is that I got into an online school who claimed to be non profit, and fully accredited. I signed up for a bachelor's of science in graphic design, got my student loans underway and started my first semester. Everything was great and I was loving it until I found out this particular school was not fully credited, and a for profit private college. Note that during countless calls with the government and my schools finance counselor that I was informed I couldn't get subsidized student loans if a college wasn't accredited. Everything went through easily enough, and I had around 10,000 dollars in subsidised and around 5,000 dollars unsubsidized in loans for this college. After finding out about the whole non accredited thing I withdrew myself from classes and eventually got my first student loan bill. I fell behind on payments and it went into default a couple months later, the debtors started calling and I ignored it. Fast forward a year and now they have sold my loans to a third party, as of now they have began to garnish my wages.

Sorry that was actually just the story, my question is; to my understanding government subsidised loans cannot be sold to anybody, did I read that wrong in my fafsa paperwork? Are they allowed to sell my debt to a non government debt collector?

Thanks for the reply. It's hard to know where to start, but hearing it from somebody in the legal field is reassuring me that I can get back on my feet.

Thanks again for the AMA, and some solid links. Best of luck to you.