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How can I apply for a student loan?

How can I get written proof that my student loan was paid?

  • I had a student loan that I allowed to default. In 2007 the IRS took part of my tax refund to pay off the entire loan; however the loan is still on my credit report as not being paid. I have disputed this as being paid but they said that I need proof that it was paid. Does anyone know how I can get a copy proving the amount that was taken out of my refund to repay the loan? The loan was with the Missouri Dept of Higher Education. Also, I took out one student loan in the amount of $4000 but it is showing on my credit report as four different loans totally $4000. Why was it slit to show that I had four loans, when I only had one and how can I get this corrected?

  • Answer:

    Contact your lender immediately, they are the only people who can give you the information you need. And although I am not sure, but after years in the industry I would think your loans in Missouri would go through the Missouri Higher Education Loan Authority or MOHELA. MOHELA is a lender (self explanatory), servicer (loan administration/billing), and guarantor (takes over loans in default), therefore, they should have all the answers you need! Here is there Customer Service information and best of luck! Local 636.532.0600 / Toll Free 888.866.4352 / TDD 636.532.5189 Fax 866.222.7060 / Toll Free 888.387.3530

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Your lender can send you a letter saying the loan is paid off. Also be aware that just because you borrowed 4,000 and they took out over a couple of years 4,000 doesn't nec mean the loan is paid. Most loans that go into default have a ton of fees added on to them. So if the lender hasn't sent you a letter saying it's paid, you may still owe them money. I've know many people who had relatively small loans, but because of the higher interests, fees, the amount of time it is outstanding, they end up paying back twice what they borrowed. If you do not know who your old loan was paid too, call 1-800-4FEDAID and the Dept of Education will give you contact phone numbers to who to call to get your letter. On your credit report. When a loan is created, it is started by one company... say Bank X. After you finish school, Bank X sells your loan to Bank Y. When you go into default, Company Z gets the loan to collect. If they can't then Company ZZ gets it. All FOUR of these Banks WILL be on your credit report. That is just the way it is. Each time your loan changes hands it will be on your credit report. You can't correct it, its is just tracking who has the note.

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