This has to do with a student loan for Regional Airline Academy that got loans for students then closed down in Florida and is reopening shop in Arizona. My son asked us to sign as co-borrowers and did sign the C0-Borrower Application. Never had to have it done with a notary and two years later after my son it was taken care of. Seems they forged my wife's signature filed a police report. Was never contacted by Regional Airline Academy (the school) and/or Sallie Mae (the lender). Originally had requested my son to send the paperwork overnight delivery and never got it. Sallie Mae insists that we owe the money that the application is binding even though never saw the contracts, promissory notes, or any details of the loan. Originally told by my son it was a Fedral Stafford Loan but Sallie Mae made it a private loan. Which we would never had agreed to at the interest rate and no deferrment until completing school. This article was online at onlinebeaconnews.com. Many students have been scammed by the school and the lenders are letting them get away with it. Whenever I or my wife got a loan had to be done in the front of a notary. It is required by all lenders I have known such as American General Finance, car loans, bank loans, student loans and so why is it that Sallie Mae does not have to follow the same rules. Have filed complaints with the FTC, BBB (of three states), Consumer Protection, Inspector General of the Department Of Education, Attorney Generals Office (in PA, FL, AZ), victims assistance, and with Sallie Mae (Fraud Division Identity Theft Affidavit) to no avail. Cost of suing Sallie Mae getting an attorney %5,000 retainer and $250 hour for representation. With no guarantee of winning the case when back in 2005 even Sallie Mae shareholders are suing and it has been taken years and do not know if it is settled now or not. The government has done nothing to put a stop to this practice and as of today I am writing to the Federal Banking Commission to file a complaint but image that it will do no good as well. The system is set up where big business has all the rights and the consumer none. My wife's signature was forged and I was not even on the contract documents for son said they would not accept mine and his wife's sister was told they same thing by my son. Seems Sallie Mae is not trying to collect from her as far as we know then why are they from me and my wife. The Coconino County Attorneys Office will not prosecute for it is not local. Have all kinds of documents but no one that will take the case on a contingency basis and I would be willing to let them have 75% if they Win just to put a stop to this injustice. My wife has been warning students to do with the Department Of Education and not Sallie Mae or they could be done the same way. So far it has been at least 20 students and at least 2 cancelled before getting the money. Lucky for them and the more we warn the better we will feel so they don't get done the same way.
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