1 Jan, 2018 → by ClaimboUser434603
cancelled loans
*SOLVED
2
I took out a loan while I was attending axia college of university of phoenix (online) 2010. The loan was for 9500. I was paid 1228. From the loan as funds earned by the student. The other portion of the loan 8285. Was sent back to the direct loans because I withdrew. The loan funds was then sent to nelnet.com where nelnet claims the funds were canceled and that axia online college canceled the funds. There are no federal provision given a school the right to cancels out a student's loan without first notifying the student or given the borrow the chance to do such. I never gave notice or authorization to cancel out any portion of my loans. And I have been enrolled in school since 4-4-2011. Nelnet.com does not no the federal regulation, and keep saying the school had the right to canceled out my loans just because I withdrew from there college.