Student Loans Get Lubbock Woman In Federal Trouble - KCBD NewsChannel 11 Lubbock

1/16/08

Student Loans Get Lubbock Woman In Federal Trouble

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A Lubbock woman is now part of a federal complaint for allegedly not paying her student loans.

On May 2, 1989, Julia Mercado applied for a loan while a student at American Commercial College. Texas Guaranteed Student Loan Corporation guaranteed the loan for $2,625.00.

Two years later, she defaulted on the loan and six years later, the company filed a claim with the Department of Education. The interest has grown and now Mercado owes the Department of Education $5,988.44. 

The department is asking the judge to grant them permission to charge Mercado 63 cents a day until the loan is paid off.

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