What should I do if I was deceived by an educational institution and got an education installment loan? I have paid off the loan once and want to terminate the rest!

If an educational institution commits fraud or uses legal forms to cover up illegal purposes, it is illegal, and it can claim that the loan contract is invalid through litigation. In order to recruit students, some education and training institutions use deception, inducement, etc. to "fool" students who cannot afford to pay tuition fees to pay tuition fees in installments. In fact, they apply for loans on financial platforms for registered students, and many students suffer from this. various levels of debt. Once a refund is made, disputes may arise with the financial institution. Before signing a training contract, you must read the terms of the agreement clearly and keep the contract, invoice and other evidence for later rights protection.

Definition of installment loan:

An installment loan is a loan that the bank agrees to be repaid by the borrower in installments over a certain period of time. When a bank issues this kind of loan, it must investigate the borrower's financial status and repayment ability. At the same time, the loan contract must determine the installment time, the amount of each installment, and the calculation of interest. For borrowers, this method not only meets a large capital need at one time, but also reduces the interest burden from amortization. For banks, it not only provides loans and increases profits, but also accelerates loan turnover from amortization and reduces risks.

Definition of online loans:

Online loans are also becoming a trend. With the advantage of the Internet, you can complete all steps of loan application without leaving home, including understanding various The application conditions for similar loans, preparation of application materials, and submission of loan applications can all be completed efficiently on the Internet.

The risks of online loans are as follows:

1. The virtual nature of online transactions makes it impossible to verify the credit status of both borrowers and lenders, which easily leads to fraud and default disputes over non-payment of debts.

2. Among the large amounts of lender information released by online platforms, many of them issue loans in the names of "loan companies", "financing companies", etc. In fact, only financial institutions approved by the state can engage in financial services such as credit financing. Those who engage in financial activities without authorization are often held legally responsible for "illegal fundraising", "illegal attraction of public deposits" and disrupting financial management order. .

3. If loans are issued through an online platform, if the online platform neglects self-discipline, or the internal control procedures fail, or is exploited by others, it may be possible to fabricate loan information and illegally raise funds. .