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Dwayne B.
Dwayne B., Attorney
Category: Education Law
Satisfied Customers: 32566
Experience:  Began practicing law in 1992
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My son has received over $400,000 in federal loans. I cosigned

Customer Question

My son has received over $400,000 in federal loans. I cosigned only one of these loans years ago for $25,000. Now Navient is telling me that one note I signed gives the D of E carte blanche to put me on many loans to him that currently total $172,000.00. Navient won't even let me withdraw the note. This can't be right! They also say that to start an investigation I have to call the police and make a complaint against my son for identity theft(?). I need some help because I don't even understand what or why they are doing this! Help!!!
Submitted: 9 months ago.
Category: Education Law
Expert:  Dwayne B. replied 9 months ago.
Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms. What kind of federal loans were these (student loans, etc)?What specific questions can I assist with?
Customer: replied 9 months ago.
Student Plus loans thru the Dept of education. They claim that the one loan l helped him with is sufficient to cover many loans. I never have seen and certainly never signed 5 or 7 more loans which he is continuing to take payments out on. The cash sum of the loans they claim I am on the hook for is about $172,000. He himself is on for $250,000. I asked them to show (send) me legally signed endorsements for all the other loans. I don't think my son will tell me any details of how he got the money. I asked Navient or the Bureau of Education to put a stop on more loans to my son involving me and that both said to do that I would have to file criminal identity theft charges against my own son. Cute isn't it? Actually it was apparent to me that they refused to answer any penetrating questions and setting me up for a vicious cycle of questions and non answers. I can get some documents to fax to you tomorrow. HELP!
Customer: replied 9 months ago.
I'm mostly retired, a military vet of the Viet Nam War period, 76 years old and have no savings for reasons I will explain if you need one. I'm furious with my son and I will need him to explain from his point of view how this all happened. I'm awake this middle of the night because I can't fall asleep from the tension this is causing me
Expert:  Dwayne B. replied 9 months ago.
We have a bit of a problem since we really don't know on what they're basing their assertion that you owe the money. There really is nothing you can do without getting a lawyer involved at this point and you may have to sue. There is no reason you would have to report your son for identity theft when you are acknowledging that you co-signed one loan for him. I'm not sure how careful you were about reading the loan documents and if you weren't careful then it is possible that you signed something which allowed him to take additional loans without the necessity for your signature on the additional amount. However, getting a lawyer involved will get you the information you need, won't cost much, and once you get the document then you can figure out what is the next step. You likely will not be able to "withdraw the note". once you sign then you are on the hook but there may be other solutions. You won't know what is possible until you see the documents and find out exactly what position you are in.

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