What does COLLEGE FOUN mean on my credit report?

Is COLLEGE FOUN making an impact on your credit score?

Updated January 1, 2023

What is COLLEGE FOUN?

COLLEGE FOUN is shorthand for College Foundation of North Carolina, with the company name being College Foundation of North Carolina Inc

WFDRL-FM broadcasts on 90.5 FM, licensed to North Myrtle Beach-Spartanburg, South Carolina, USA. The station’s transmitter site is near Murdock, Tennessee.

COLLEGE FOUN is a College provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with College Foundation of North Carolina.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Education

How do I contact them?

Here is the current contact details for College Foundation of North Carolina:

Address:

  • CFI 2917 Highwoods Blvd. Raleigh, NC 27604

Website:

Email:

Phone:

Payments

To make a payment, you can do so online or through a mobile app using a prepaid debit card or wire transfer. If you have trouble making monthly payments, you can apply for deferment or forbearance. There are penalties for late or missed payments.

Question Answer
Do they offer a monthly payment plan? No
Can I make payments over the phone? No
Can I make payments online? Yes
Do they offer a discount for automatic payments? No
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

There are three main types of federal student loans: - Direct Subsidized Loans: for students with financial need - Direct Unsubsidized Loans: for students without financial need - Direct PLUS Loans: for graduate or professional students, and parents of dependent undergraduate students Loan consolidation is a process where you take out a new loan to pay off multiple other loans. This results in a lower monthly payment, but you will end up paying more in interest over the life of the loan. Loan forgiveness is when you are no longer responsible for repaying some or all of your loan. There are several programs that offer loan forgiveness, including the Public Service Loan Forgiveness Program, which forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. To qualify for loan forgiveness, you must: - have made 120 qualifying monthly payments - be employed full-time by a qualifying employer - be employed in a public service job or a qualifying non-profit job - have made your payments under a qualifying repayment plan

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. You may be able to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? No
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

COLLEGE FOUN IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

What are College Debts?

Collage Debts are debts taken on to aid your education, they lead to you being in a lot of debt which gets repaid over a long period of time. This debt can also be sold onto other debt collectors, due to the long payback period this increases the chance of administrative errors being made: These will permanently be reflected on your credit report. If you believe that you have been affected by any administrative errors then you should take action to fix the issues.

How do I remove COLLEGE FOUN from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.