Question:
I'm hoping some kind soul in here can help me about something stupid I did. Last year I took an year off from school, during that time Citibank came calling about my SUBSIDIZED Stafford Loan. In a moment of frenzy weakness (and stupidity) after missing a few repayment notices and having Citibank write nasty notes to the credit agencies, I sent them a check for the ENTIRE amount (about $2570+interest) instead of just the minimum payment.

I have decided to return to school (same college) this year and was hoping to beg for them to return the part that I had paid in advance and defer the rest. My school's financial aid office told me it's none of their business and the Citibank Student Loan Corp operator told me that once a loan is closed, I can't re-open it. Now here's the part where I'm hoping someone can help me. Is there some way for me to appeal and have them reimburse me since I had paid in advance? I sure can use the money for this year's tuition. Also, how can I go about erasing/remedy those nasty comments on my credit reports? (Even if I can't, I would appreciate it if those who know for sure can explain to me this grave injustice.) Thanx in advance for all your e-mails! P.S. if it matters, I'm also a Citibank Visa customer.

Answer:
Not a good situation. And I can't give you any news that you want to hear, either. Your loan has been paid in full. You can't borrow that same loan again. Think of it this way: Let's say you paid off your car loan. Then decided that you really did need the money you used. If you called the bank and asked for it back, they would say "No". But you could apply for a new loan on the car. And that's what you can do for your student loan, too. As long as you aren't in default on any other student loans and you're still in school at least half-time, you should be able to borrow another loan. About getting the knocks off your credit report: Don't spend a lot of time trying. It won't work. Chalk it up to experience.