- Report: #666703
Report - Rebuttal - Arbitrate
Complaint Review: ComputerTraining.com
ComputerTraining.comChesapeake, Virginia United States of America
ComputerTraining.com Pushes you into debt as quickly as they can Chesapeake, Virginia
*Consumer Comment: Ripped off at the age of 16
*Consumer Comment: Wow
The first thing they get you with is the loan, they recommend Salie mae loan company to you one of the worst loan company's to ever go with. The first year of your loan is auto deferred which means you instantly get a nice 2500 dollars added to the principal of your loan so 22,000 just shot up to 24,500. Unless you have a job to pay on the loan before the deferment ends. If you only pay the payments that they set for you the principal never goes down. after 3 and 1/2 years of paying I sent salie mae about 15,000 dollars my loan amount now is 29,300.54. After doing a lot of research on salie mae I have found far worse cases of salie mae's Compounding interest and Capitalized interest. If you think my luck is bad its not check out this poor girls website dedicated to the same thing. www.getthehellawayfromsalliemae.com
They order you the Microsoft books and basically read you the text books with minimal explanation. Then make you take the supplied Mock Exams on the cd's
After they run you through each book which btw each book is essentially a repeat of the previous book with a couple new chapters in it. They let you go take the tests which they pay for or rather you pay for in spades. Oh and btw the vouchers they give you to take the tests expire rather quickly if you don't use them all your money goes down the drain.
After I completed this "School" I was posted in a job with canon its a rather miltaristic phone tech support company doing basically nothing that I was training to do which was to be a computer administrator. Having 12 years of computer exp under my belt you can only guess I felt out of place but my Certification and my Extensive exp got me a $10.00 an hour job woo.
So in retrospect if I had it to do over I would never sign a paper borrowing money from sallie mae nor would i attend computer training.com
Oh and a couple of things they won't tell you when you go there.
#1 the loan they offer is not a student loan, it is a "Private Loan" which essentially means its a credit card loan protected by the us government.
#2 They won't tell you about the capitalized interest that will accrue during the deferment.
#3 They won't tell you that you can't claim this loan on your tax's for interest paid like a student loan. But they will imply to you it is a student loan.
#4 The loan officer will tell you the cosigner comes off the loan in 2 years this is a lie, you Have to Apply to have the cosigner removed from the loan after 2 years of constant payments.
#5 Sallie mae gets paid whether you pay the loan or not. What this means for you is if you become unemployed they have absolutely no motivation to help you because if you can't pay the loan the government steps in and pays it for you then gives the contract to a collection agency only problem is the collection agency is owned by sallie mae so they win either way.
I think that computer training Dot Com Preys on the Younger generation and the older who don't know better and are probably in cahoots with sallie mae to force these horrible horrible Private loans down students throats.
I mean I am lucky here that I did not go to a accredited college and borrow 60-70 thousand dollars. The girl who did borrow that much money from sallie mae now owes 252,543.23 which is not even realistic. But its true.
This report was posted on Ripoff Report on 11/30/2010 02:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/ComputerTrainingcom/Chesapeake-Virginia-23320/ComputerTrainingcom-Pushes-you-into-debt-as-quickly-as-they-can-Chesapeake-Virginia-666703. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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