Student loans — a fraudulent deal?
Hi Terry – my son went to a private university for two years and had wanted to be a physics major. We interviewed the head of the physics department Who completely misrepresented what the school had to offer. He told us what a thriving department physics was at this university and how much hands-on time the professors would offer etc. – it turned out that none of this was true and there were only two physics teachers at the hall university and one was on sabbatical when the other one was teaching - And that teacher professor was completely incompetent My son finally left the University after a very frustrating two years has accumulated huge amounts of student loan debt. My question is is there anyway to have the student loans wiped out due to the fraud committed by the University ? I know this is a longshot but I remember someone I knew you had student loans years ago while getting a teachers degree - she successfully convinced the school to wipe out her loans due to the fact that she couldn't find a job in her chosen field – I know it's a longshot but I'm just trying to help my son
Terry Says
Well, you could hire a lawyer to try to get your money back from the university. And maybe one would take it on the basis that it could be a class action for all students who were attending and majoring in Physics. The lawyer would probably take about a third of the money if the class succeeds, but it would be better than nothing. And the university might be willing to settle to avoid bad publicity. But the student loans would still be in force and require payment. Only a few trade schools that completely represented their offerings have been sued by the government, and some loans were abrogated. I doubt that applies here.
