Legal Question in Credit and Debt Law in Missouri

Student Finances

I currently owe a university $6200. More than half of the principal is in late fees. They are holding my transcripts until my balance is paid. I cannot recieve a student loan to pay off this debt until I am enrolled and I cannot enroll until i recieve my transcripts. Is it legal to charge more in late fees than for the principal?


Asked on 9/23/08, 8:56 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Re: Student Finances

Generally, a judge will be hesitant to grant ajudgement where the late fees exceed the principal. However, due to several federal laws, universitiies are sometimes required to collect all the pertinent fees. It is common for schools to release a transscript directly to another entity ONCE. Contact the uniiversity and explain that the transcript is needed to get the loan to pay them. They may send the tanscript to them for you.

Good Luck

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Answered on 9/24/08, 1:32 pm


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