Private College Student Loan

Getting out of a loan I should not of been qualified for?

Two years ago, when I was in college, I applied for two private loans through chase. One was for 8K and the other was for 10K. (And yes I realize I was young a stupid for taking out loans. But I had to to cover the cost of my education.) Anyway, I applied without a cosigner and I had little to no credit history and I was only making about $600 a month at my on campus job. My question is, do I have any kind of ground to have these loans taken away due to the fact that I should not of been approved for them in the first place? Clearly I should not of qualified for due to the fact I didn't have a cosigner, I wasn't making enough money, and I did not have credit history. Please help.

Public Comments

1. Don't do it
2. Once you got the loans (regardless of why they were approved) you DID get the money and you spent it. Therefore YOU OWE IT...PERIOD !!!
3. They should not have loaned you the money and it seems strange that they did unless it was some kind of school loan. Was this just a signature loan? Was there real estate or a stock portfolio or other assets backing the loans? Whatever the situation you obviously received the money and now you owe it. Get a good paying job with the education that you received and start paying it back in keeping with the terms of the loan.
4. Hindsight is 20/20.... You applied for a loan and the bank approved the loan. You then took the money and spent it and now, years later.... you cry that you should not have been allowed to take that money because you had no way of paying it back then? Ha Ha.... you are funny. Student loans are given on the expectation that once you are done with your education your income level improves dramatically because you are able to land that high paying job. Most students are poor like church mice and still get approved for their student loans. The loans don't come due for repayment until you are done with college and even then you usually have 6 months to land that high paying job that allows you to repay your student loans.
5. Sure, just give them the money back. I thought I heard everything until your story. You want to dismiss the loan, keep the money and not have to pay it back because you should not have qualified? You sound like a lawyer.
6. You are the one who signed the contract stating that you would pay back the money. If at this point you feel that you are in a bind making the payments then you must look for additional employment, not try to find a way to blame someone else for your mistakes.