Legal Question in Credit and Debt Law in California
My question is do I have any legal alternatives that can help reduce student loan debt against University of Phoenix?
My complaint with the University of Phoenix is directly concerning student
loans and their processes. I completed my Bachelors of Science and Masters
in Information Technology as well as returning for the remaining courses
for an MBA. I had much concern, as anyone would, about the amount of debt
I would incur while in school. Although no exact dollar amount was
presented at any time for the reason of price changes or any other factor
caused on my part such as withdrawal, I was quoted approx. $80,000 as a
total debt at the completion of my MBA in March 2010. I received letters
from ACS regarding my loans and repayment and discovered that the actual
total is over $108,000. I�m in forbearance awaiting a consolidation at the
present time. Neither the online disbursement and payment web site nor the
promise to pay documents give actual loans accrued or totals to date owed.
It�s clear that the University of Phoenix does their best to minimize
student�s financial debt concerns while masking debt accumulations.
Being a long time student of the University of Phoenix I clearly seen a
dramatic drop in educational quality of the online courses. Most of the
courses for the MBA degree are substandard to those of an Associates
level. I truly would not have even enrolled in the program and incurred
more debt if I would have known about the obvious shortcomings of the MBA
program.
1 Answer from Attorneys
The reason student loans are not dischargeable in bankruptcy generally is that you supposedly received a benefit from taking all those courses. You waited years and after taking all thoses courses and even doing the MBA you have now decided that the cost was too much for the quality of the classes. Buyer' regret is not a legal defense to student loan debt. Since you were in college and every year supposedly became more and more educated, particularly with business classes including business law, do you really think that the argument that things were not clear or that the education was overpriced or that things were misrepresented is going to hold water? Some bullets you need to bite. You really should have known that the University of Phoenix is not Harvard or Stanford Business School. Also, no online education is ever as good as having the classroom experience or is
considered as good. That may change in the future. I don't have any connection with that
University or any other. In fact, I think that those online universities do exagerate the value
of what they sell. But isn't the nature of businesses to represent that what they offer is the
best for the price? That university is a private for profit business. I just feel that your reason
for not wanting to pay the educational loans or for wanting to pay less would not likely win in court. You need to find another legal defense if you do not want to pay or want to pay less. Godd luck...
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