There are ways this can all be validated.
- In episode 1 it's established that MC's dad has saved up for his tuition. They make do with many inferior things, but the dad has placed high priority on his son's education and has been putting money away for years. It's an acceptable premise, so like, you know, accept it...
- Now this is my speculation, but it's possible: Maya's dad may or may not have the cash but he didn't offer to give it to Maya and expected her to take out a student loan. Prior to her realizing her dad was going to blackmail her, he assures her it is better that he co-signs in case she can't pay the debt back. He probably does the same thing for Derek, cosigns both their loans, like a good father might. So Maya gets a student *cash* loan (they exist look it up). The dad "assists" but then has the money placed into an account that Maya doesn't have access to, that's where he tricks her. Then he hits her with the ultimatum.
- Maya can't just go and get another loan. She has no earning capacity, she's now already in debt, her father won't cosign the second loan. She's basically fucked.
- Maya could definitely take the case to court and would win hands down, she just has to have the guts to stand up to her father and do it. This is her problem, she's a pushover. Hopefully the MC will help her stand up to this bigot of a father.
So yeah, you can all say how improbable it is etc. but it can be rationalized. If it can be rationalized it is therefore probable. DPC doesn't have to spell out all the legalities, show everyone the loan forms and have the fans get their own lawyers to read over the in-game loan clauses...
So anyone saying this is a plot hole, bad writing etc. is flat out wrong. Of course, if you can prove it is a plot hole, prove it. But don't tell me the funds cannot be used for anything other than the tuition, because people misuse their college loans in real life (and the dad is threatening Maya, he hasn't gone and spent the money). Don't tell me she could just get another loan, because as soon as the new creditor sees she already has a student loan out, they won't help her, she's a liability (unless she goes through some loan shark and everyone will be crying that DPC has just done that to add more drama).