What to do about misrepresentation regarding a school loan?

UPDATED: Sep 3, 2011

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What to do about misrepresentation regarding a school loan?

2 years ago I was talked into a private student loan that was not with the company I signed for and was for more than the admissions person stated. I asked questions about the amounts on the loan and because I was anxious to start I believed her when she said “don’t worry about it” and signed. The loan was to be for $27,000 but it was for $43,000 (with a $13,000 service charge). School was insufficient for preparing me for work, at one point one of the instructors simply stopped teaching and a student had to teach. Do I have a case?

Asked on September 3, 2011 under Bankruptcy Law, Massachusetts


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

There is a difference between the alleged misrepresentations concerning the student loan that you obtained and the dissatisfaction that you have over the quality of the education that you obtained concerning the student loan that you obtained.

You need to carefully read the loan application and agreement that you presumably signed in that its terms control the obligations you owe the lender and vice versa in the absence of conflicting state law. If the loan agreement sets forth the terms that you feel that you were misled about, but you signed the agreement, under the laws of most states in this country, a party is presumed to have read and understood an agreement that he or she has signed absent fraud. Fraud in such cases is when the person's signature is forged.

If the school that you attended did not prepare you for work, you should consult with the dean of students about your dissatisfaction about the education you obtained.

From what you have written, you should consult with an attroney about your grievances about the student loan you obtained and the quality of education that the studen loan paid for.

Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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