By boned - 27/01/2010 05:25 - United States

Today, I checked my university financial account to discover I owed them over $1000. The reason? They had apparently given me too much money when I applied for a loan and now want it back. Oh, and I spent my loan money on books and a laptop for school. FML
I agree, your life sucks 29 402
You deserved it 3 314
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Top comments

jskains 6

No he doesn't deserve it. The loan company should have managed their own decisions better. They made a deal for a loan at one level then changed the deal. I can't see that being legal.

41 2
bubuchi3 0

wait, i'm confused. did they give you $1000 more than what you were supposed to get, or mistakenly grant you $1000 more than what you were qualified to get, meaning that on paper, the $1000 is really yours?

39 0

Comments

jskains 6

No he doesn't deserve it. The loan company should have managed their own decisions better. They made a deal for a loan at one level then changed the deal. I can't see that being legal.

41 2
TRJADN 0

Well look at the bright side, at least it's only $1000. It could have been alot more. Your life definitely sux though lol

0 1
Boddmon 0

I don't understand... If you were qualified to receive x amount of dollars but received x+1000, aren't you aware of the total you received?(x+1000) and the amount you spent? Whether they gave you too much or too little, you pay back the amount you used yes??

3 0
jcthebigtree 0

Same thing happened to me. I recieved something like $1700 too much... I was getting A LOT at that point and didn't realize I had gotten that much extra, figured it was $500 and then I'd pay them when they wanted it back... I did give the University some grief for THEIR MISTAKE and now I'm paying it back $25 a month at no interest. So really, it was free loan that I got to spend on beer.

1 0
mexican_girl 0

Wow that really sucks... But if it's the school's fault, shouldn't u be allowed 2 keep the money, cuz that's what the loan contract (or w/e it's called) said?

0 1
mshafty 0

Maybe you can take an accounting class to supplement your liberal arts degree!!

0 1
capthavoc123 0

News Flash: If it was a LOAN, you would have had to give the money back anyway. Are you trying to tell us that you spent $1000 more than you thought the loan was worth? Because that's the only way this would make any sense. The loan check or paperwork would have had the amount of the loan on it, so you knew how much the loan was for. There's no way you could have not known you still owed 1000 dollars unless you're completely stupid or irresponsible.

1 1
Ketia 5

At some point you will have to pay it back. Call and bitch to them its not your fault they screwed up.

0 0
hedgehogs 0

You do need to follow this stuff. However, it WAS their mistake, not yours. I think at the very least, the financial institution should work with you to create a payback plan that won't break you.

1 0
Loony_fml 4

This happened to me last semester but with much less money. It wasn't a loan though, it was Financial Aid. I didn't think they could ask for their loan money back, since it's, well, a loan, and you're required to pay it back eventually (and depending on the loan, it'll accumulate interest too).

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