H
help needed
Guest
Hi everyone,
I am currently a student, I got approved in July 2009 for a student loan for the 4 years I was at college, to be drawndown in 4 equal installments over the 4 years of the course. The only condition I was made aware of was that I would not get each years draw down until I could prove I had passed the prior years exams & the college confirmed my entry into the 2nd, 3rd and 4 years.
I drew down last years quarter in August no problem.
I have been trying to draw down this years portion since July but the bank has been stalling. I have now been informed that I cannot draw down the loan until I sign a waiver stating that I will take out no further debt withouth the prior consent of the bank.
So I am just wondering can they impose this on me since the agreement is already in place? Also can they impose such a restrictive covenanent on me? That means I'm more or less tied to them in the future for all financing.
I am currently a student, I got approved in July 2009 for a student loan for the 4 years I was at college, to be drawndown in 4 equal installments over the 4 years of the course. The only condition I was made aware of was that I would not get each years draw down until I could prove I had passed the prior years exams & the college confirmed my entry into the 2nd, 3rd and 4 years.
I drew down last years quarter in August no problem.
I have been trying to draw down this years portion since July but the bank has been stalling. I have now been informed that I cannot draw down the loan until I sign a waiver stating that I will take out no further debt withouth the prior consent of the bank.
So I am just wondering can they impose this on me since the agreement is already in place? Also can they impose such a restrictive covenanent on me? That means I'm more or less tied to them in the future for all financing.