Full Sail Took my Loan Money
(Raleigh, NC, US)
Ok i am a full sail graduate. i was lucky to have procured a job at a very prestigious under ivy league college on their web development team for OIT. I originally went for their game design and development degree. After finding out you have about a 10 yr run in the industry i switched degrees to digital media.
having took out 1 $30K dollar loan, for living and school expenses, for the game design degree, they were supposed to return the remaining portion of the loan to Sallie Mae and i was forced to take out another loan for the Digital Media degree.
After graduation i talked to Sallie Mae, who by the way never told me I was signing a loan with a variable interest rate that skyrocketed from 9% to 14% for no reason, and they said Full Sail never returned the portion of my money from the game design program. this led to me having 2 - 30K loans, 2 government issued stafford loans.
All i want to know is where is my money. After contacting Full Sail i never received answers, and they are trying to tell me i owe them an additional $8K.
I learned a lot and luckily landed a good job, with no help from Full Sail but i will forever be burdened by debt that i will never make enough money to pay off.
Great school if you can afford it, just try not to take out those private loans.=======================
Reply from TheBestFilmSchools.com
It is difficult to understand the specifics of your situation because of the lack of details you've provided. I'll try to explain what I think happened to you but it may just be conjecture. I'll begin by saying that this is a perfect example of how educating yourselves about the school you want to
attend and the terms of your contract can mean.
I can guarantee you that both Sallie Mae and Full Sail took your money legally, whether you like it or not.
If you want to switch degrees at Full Sail then you have research to do in order to protect yourself. No one will do it for you because everyone profits from your ignorance of the rules written into your contract. If you dropped the Game Development Program without going through the proper channels and within a certain time frame, then you pay for that class.
You can't just switch classes mid way through or Full Sail would be left with an empty seat that could have been filled with another body. Full Sail protects themselves by granting themselves the power to charge you for the full duration of the class that you signed up for and then abandoned.
Then you switched to Digital Media Program and took up another seat.
I beleive that you paid for the contracted duration of a seat in both the Digital Media Program and the seat in the Game Design Program that you abandoned. Full Sail is under no obligation to return any portion of tuition fees you signed up for.
Then you go on to say that Sallie Mae did not inform you that your interest rate is variable? Dude ... those details are written into the contract you signed. They are under no obligation to make sure you understand the terms of your contract.
That's your resposibility. The fact that you have not contacted a lawyer leads me to think that you already know that.
Again, another example of how much research you really need to do before signing anything.
I'm sorry this happened to you. It's a real setback but it sounds like you have gotten back on track.