Genesis Lending Student Loan Complaint

Genesis Lending Student loan department,

Non-federal student loan Getting a loan Michigan

On - - 2011, I decided to attend - - in - MI to attain a -. Upon entering this campus to sign paperwork for submission, I was surprised to see that there was a loan officer with the - representative. As we hurriedly did the - paperwork, the loan officer was taking my information as well. I was real uncomfortable with taking out a private loan that I felt I was rushed into. But I went with it since I wanted the education. She ran my credit I was pre-approved for $8500.00 at 6.8 %. I was told that I 'd have $20.00 in school payment amount and $100.00 when I graduated. My husband would be the sole provider of income for our - yr old son and unborn daughter during the 11 month long program. Little did I know that $20.00 would be hard to come by. I will never forget the day I was in class listening to lecture and the next thing I know the door opens and someone calls my name. So I get up to meet the woman in the hallway. She said,


break. It was over an hour. That never happened to me again but it happened to other students constantly. The teacher even said - day when it happened to another student, You got ta take care of your business or you ca n't come back. '' Little did I know about the loan I was coerced into taking was n't what I thought it was. It was - loans, Note - principal - - principal - with a grand total balance of $16000.00 at 14.9 %. My monthly payments are $350.00. It is very difficult to pay this now and provide for a family. I have paid $3400.00 in interest and I still owe $9200.00 in total balance. I understand that $20.00 a month sky rocketed my interest but I could n't work while in school and I feel that this Genesis Lending took advantage of this. They bate you with the 6.8 % interest and when you actually see your real rate there is nothing you can do unless you want to put off school for another year. I 've tried to lower my rate but they do nothing to help you. I just feel buried in this debt and causes a real burden on my family.