AES-PHEAA
Consumer Complaints
There are over 9925 complaints on file for AES-PHEAA. Dated between 2019-12-11 and 2012-03-07.
Complaints Page 65
2019-03-12
Silver Spring, MD
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Problem with customer service
Complaint: My billing emails arrive a day after the bill is due. For example, I received an email on XX/XX/2019 when the bill was due on XX/XX/2019. I find this unacceptable.
Company Response: Closed with explanation
2019-03-12
NY
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Problem with customer service
Complaint: I have been attempting to contact XXXX regarding my federal student loans and my participation in the Public Student Loan Forgiveness Program. I made a call to XXXX on XX/XX/2019 at XXXX XXXX and was on hold for over 40 minutes, waiting to speak to a customer service agent. At no point in this 40 minutes was I able to speak with a live representative. The automessage suggests to " call back at a later time, '' but I have also experienced excessive wait times later in the day.
Excessive wait time to speak with a XXXX agent is effectively preventing me from being able to manage my federal student loans.
Company Response: Closed with explanation
2019-03-12
Brooklyn, NY
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Problem with customer service
Complaint: I currently have eight federal student loans serviced by the Pennsylvania Higher Education Assistance Agency ( PHEAA ) and I am participating in the Public Service Loan Forgiveness program ( PSLF ). I have been attempting to resolve an ongoing matter regarding my payments credited toward PSLF with PHEAA for more than a year. I am now writing to complain of PHEAAs inability to properly credit my qualifying loan payments toward PSLF, their inability to provide me with requested documentation and their inability to provide any semblance of helpful or timely customer service.
I graduated school in XX/XX/XXXX and entered the workforce in XX/XX/XXXX. Since XX/XX/XXXX I have worked full-time for the same PSLF qualifying 501 ( c ) ( 3 ) employer ( without interruption, continuing through the present day ) and have made monthly loan payments under the same PSLF qualifying Income Based Repayment ( IBR ) program. My qualifying repayment plan, my employer, my full-time employment status and my employer 's 501 ( c ) ( 3 ) status have never changed since my loans went into repayment in XXXX and I began making monthly payments. I have never consolidated or refinanced my loans.
My eight federal loans ( 4 Direct Unsubsidized Stafford Loans and 4 Direct Subsidized Stafford Loans ) were serviced by the XXXX XXXX XXXX XXXX until the Department of Education automatically transferred them to the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) in XX/XX/XXXX. My eight federal loans were automatically transferred again, this time from XXXX to PHEAA in XX/XX/XXXX when I submitted my first Employment Certification Form ( ECF ) as part of my participation in PSLF. Upon balance transfer, PHEAA only credited me with the XXXX qualifying payments I made while XXXX was my servicer. I received no credit for the qualifying monthly payments I made during the two years my loans were serviced by the XXXX XXXX XXXX XXXX.
I initially raised this issue with PHEAA via their phone based customer service in XXXX of XXXX. After multiple unsuccessful attempts, I was finally told that PHEAA could not provide any assistance over the phone for this problem, that I should try to gather all available documentation of my prior payments and submit an email to their customer service department. I was unable to obtain my payment records from the XXXX XXXX XXXX XXXX online so I emailed PHEAA to request these forms on XX/XX/XXXX. I received a receipt confirmation of my email but never any response. I emailed once more on XX/XX/XXXX and was told that " The payment count that you currently have is the payments that we were able to automatically qualify towards PSLF. We have not completed the full review of the entire payment history from your previous servicer as of yet.
Despite multiple subsequent calls and emails over the next nine months I have never been able to obtain any meaningful updates, information or follow up of any kind from PHEAA. Additionally, they have never provided me with my payment records from the XXXX XXXX XXXX XXXX, which I have requested repeatedly. Instead, without any warning or notification, my credited payments were suddenly decreased from XXXX across all eight loans to non-sensical numbers ranging from XXXX to XXXX, all without having received my new Employment Certification Form.
I am therefore lodging a formal complaint against XXXX for 1 ) failing to provide adequate or timely customer service 2 ) failing to provide requested records 3 ) failing to properly credit my loan payments toward PSLF and 4 ) inappropriately and incorrectly adjusting my credited payments without notice or explanation.
Company Response: Closed with explanation
2019-03-11
Houston, TX
False statements or representation
Debt collection: Federal student loan debt
Impersonated attorney, law enforcement, or government official
Complaint: On XX/XX/XXXX XXXX XXXX, a collection Agent for PHEAA, misrepresented themselves by identifying themselves as US Department of Education and offset by tax of {$3300.00} without Court Order. This alleged debt was a XXXX XXXX XXXX that was paid off but had been manipulated to create the current debt and was assigned to XXXX XXXX for collection.
Seeing the suspicious manipulation on the letter from the US Dept. of Treasury, I decided to dispute the Offset with the US Dept. of Education Ombudsman Group. The US Dept. of Education Ombudsman group showed that they did not offset my tax but said that PHEAA has the ability to garnished and certified my tax for Treasury Offset ( TOP ).
But the Law requires PHEAA to offset my tax only with a court order and PHEAA does not have the court order. GC Services, PHEAA 's Collection Agent, does not have court order required to offset my tax either, buit decided to misrepresent themselves as US Dept. of Education to offset and take my money in Bad Faith.
I also found out that the US Dept. of Education also need court order to Offset this alleged debt because it was and is still disputed. According to the law US DOE can only Offset on undisputed debt without court order.
This alleged debt had been disputed many times from XX/XX/XXXX but was never verified and never validated on collection accounts.
I also disputed this alleged debt with GC Services when I received their collection letter, dated XX/XX/XXXX, in the mail. I asked for the validation of the debt as required by Texas Debt Validation process on XX/XX/XXXX but XXXX XXXX never validated the debt but continued to pursued collection action and still reporting the debt on my credit record in violation of the FDCPA.
Returned certified mail confirmation showed XXXX XXXX received my dispute letter but never responded and never validated the alleged debt but decided to misrepresent themselves to offset my {$3300.00} and take my money in Bad Faith.
The US Dept. of Treasury had said that only the person named in 'who do I owe ' can be able to remove, change and refund the money collected through this falsified Treasury Offset process. But the US Dept of Treasury had failed to identify the real certifying agent of this Offset.
Therefore TOP Trace # : XXXX was certified in violation of the Federal Debt collection Act and has to be nullified and my money return to me.
I am also requesting that my information be removed from TOP data base in accordance with the Federal Debt Collection Act due to misrepresentation by XXXX XXXX, the certified agent.
Company Response: Closed with explanation
2019-03-11
Omaha, NE
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I'm eligible for public service loan forgiveness and XXXX haven't credited me all the payments. They sent me a letter in XXXX of XXXX acknowledging I had been at a qualified employer from XXXX ( when I originated the refinance loan ) until present. They didn't credit me with any payments before XXXX, when the loan was transferred to them. Which meant they had not given me credit for all the payments. They said I had XXXX payments. I called and they said they'd start a review for the other payments. That was in XXXX of XXXX and the review is still not completed. In XXXX of XXXX I submitted an employment certification for XX/XX/XXXX - XX/XX/XXXX and submitted the PSLF application. They rejected the application saying I had only made XXXX qualifying payments, even though they had previously certified XXXX payments. I've called several times and they just say to wait. I've even submitted a credit report showing on time payments since XXXX to my student loan providers. They've already acknowledged that I was working for a qualified employer and yet they haven't processed the application.
Company Response: Closed with explanation
2019-03-11
Queens, NY
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I have been working full time with a PSLF-qualified employer and making qualifying payments since XX/XX/XXXX. When my loans were from transferred to XXXX, XXXX did not count all of the qualifying payments. A request to review my case was submitted by a fedloan representative XX/XX/XXXX, but my case has not been reviewed. Additionally, through the XXXX website, I am unable to access past PSLF employer certification forms I submitted and I can not access information on payments that were made during the year XXXX.
Company Response: Closed with explanation
2019-03-11
Houston, TX
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: I've contacted XXXX and the other credit bureaus several times regarding an incorrect report on my credit report. I have XXXX XXXX my federal loans. My credit reports are showing that I was late with payments to XXXX from XX/XX/XXXX-XXXX ( or XXXX ) XX/XX/XXXX on one of my federal student loans. I spoke with a XXXX representative in XX/XX/XXXX who looked at my account and verified that I was never late during this period and never received any sort of notification that would indicate such. In fact, there was no delinquency showing on any of my credit reports until XX/XX/XXXX, which was suddenly reporting that I was several months past due. Apparently there was a balance generated in XXXX XXXX system associated with my forbearance 5+years ago, that should have been covered by my payment and wasn't, and was never communicated to me, despite my account being in autopayment and making timely monthly payments. The XXXX representative indicated she was escalating this matter to the credit reporting division, and that it would be corrected in about two weeks. Again, in XXXX XXXX and the credit bureaus was supposed to be correcting this incorrect information. Despite this, I keep getting notified from XXXX that the investigation is complete, and yet the information is still the same ( see attached screenshot ) .This reporting is negatively affecting my applications for credit. I sent my XXXX statements to XXXX et al showing that I have never been notified of any delinquency on this account, and told them how unfair that I as the consumer have to prove my innocence, versus the debtor having to prove this a valid debt ( apparently the debtor just has to acknowledge its reporting is correct and that is sufficient ). I have asked XXXX et al and XXXX several times to re-investigate this matter. They each claim they have looked into it, and yet I am still seeing this error on my report. Attached to this complaint are my statements from XXXX showing my account information. The payment summary in the top right corner shows when XXXX received its last payment, when the next payment is due, and for how much. As you will see, there is never a late amount mentioned or due. Though I strongly resent having to prove I'm not responsible for this reporting, I will gladly turn over anything in my possession to help clear this matter.
Company Response: Closed with non-monetary relief
2019-03-11
IA
Struggling to repay your loan
Student loan: Federal student loan servicing
Can't get other flexible options for repaying your loan
Complaint: I was enrolled in XXXX XXXX XXXX University in a XXXX 's program. I received an excess funds payment on my last term. Two weeks later, I was blocked from my student class because I was informed I had a balance due. I was unable to resolve the situation. I kept asking why I received the excess funds refund when there was a balance due. I had to drop from the program as this was my final capstone class. I could not get anyone to explain why I received a refund when there was a balance due. I can not afford to pay the balance as I am low income. I received a letter from legal counsel of XXXX stating I owe {$1700.00} and if not resolved, this matter may be placed with a collection agency.
Company Response: Closed with explanation
2019-03-11
Warren, OH
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Account status incorrect
Company Response: Closed with explanation
2019-03-11
Three Bridges, NJ
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I am a XXXX XXXX XXXX/XXXX veteran. I served 20 years in the military. After retirement I decided to use my GI Bill to attend XXXX University and obtain my degree. I am just 2 classes short from earning my degree at this point. ( XXXX did not accept all of my military credits as transfer credits and, I took a full course load for 4 years - but still don't have a degree somehow ).
In 2015 I stopped attending XXXX full time since I just needed 2 more classes. During school, I ended up borrowing using some student loans since I had a wife and XXXX children who came with me to XXXX and we had extra expenses than what the GI bill covered.
My student loans became due several months later. I paid them but slowly it became too difficult as I was not working, my wife also owed student loans, and I had a daughter approaching college age.
I tried relentlessly to contact XXXX, XXXX and XXXX XXXX, which were servicing my loans, to get my payments deferred or reduced. When I called there was always a 1-2 hour wait. I called to ask them to talk to my wife who handles our finances. They said they would send me an email form to complete and return - I never received the email. I tried to use their online website to submit payments and contact them but the website would not let me create a user profile and log in.
When I finally reached someone at XXXX XXXX XXXX they said I could set up loan deferment and we set it up over the phone. Three months later I found monthly email statements that showed they had never processed my deferment request and had been charging me each month, which put me in a delinquent status! I called and waited on hold for over an hour and they put me on a payment plan. Several weeks later the payment became due, but when the statement came it was for more than the amount we had agreed upon on the phone!
I suffer from XXXX from my time in the military. There has been so many obstacles to working with these school loan servicers it has been so difficult. I have been unemployed for most of the time since attending XXXX, but I have not been able to reach the servicers to apply for deferment or forbearance since my early attempts.
My school loans have now gone into default. We were sent a letter saying we now owe {$40000.00}, but I know I did not borrow this much money. I have records that show 1 loan was only {$3000.00}. My family needed money from our tax returns recently, but over {$10000.00} were taken in garnishment.
I do not know who to call or where to turn at this point.
1. How do I get straightened out what amount I really owe?
2. How do I get back on some realistic payment plan, given that I am still unemployed?
3. Is there a payment plan for veterans that are XXXX?
Thank you in advance for your assistance.
XXXX XXXX, XXXX XXXX
Company Response: Closed with explanation
2019-03-11
Ft Lauderdale, FL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2019-03-11
Arsenal, PA
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Company Response: Closed with non-monetary relief
2019-03-11
Highland Park, IL
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Don't agree with the fees charged
Company Response: Closed with explanation
2019-03-11
Garrett Park, MD
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: On XX/XX/XXXX, I created my account with XXXX Servicing, and I uploaded all of my Employment Certification forms for the Public Service Student Loan Forgiveness program. I received notice that all of my forms were received on XX/XX/XXXX. I called the customer support line shortly after my account was set up to check in that all of my Employment Certification forms were correctly received and to see how long the review normally takes. At first, I was told it may be 6 months, but no communication was sent to me telling me that the review of my student loans was in process or any timeline for how long I can typically expect to wait. I called again in XXXX of XXXX to see if the review was starting and if I would see an update on my qualifying payments anytime soon. I wasn't told anything specific, just that the review hadn't started and that I would get some kind of written communication if anything else was required. I called again in XX/XX/XXXX, and again, I was told to call back in 30 days to see if the review had started. I called again in XX/XX/XXXX and was told that nowhere was there any written guideline of how long the review takes. I was told it could take up to a year, but that there was no timeline. I asked to have my case escalated, because I thought this was pretty poor customer service, but I suspect I was then just put back into holding queue because the person I spoke to next was another customer service rep who told me there was no timeline for their review.
I believe XXXX servicing should be more transparent with their process and where loan forgiveness applicants are in the process. These are not petty annoyances that I'm not getting answers about. Whether I get this loan forgiveness determines if I can afford to buy a house in three years. It determines whether I look for another job outside of the non-profit sector in a year. Whether I get loan forgiveness also determines my personal professional development budget, how much I can afford to save for my wedding, and what kind of career opportunities I will entertain because I have to stay in the non-profit sector. Conversely, if I'm denied PSLF, I need to know now if I should pursue a different career and how I need to alter my budgets/plans and take on additional jobs so that I can continue building towards my financial goals.
What I've witnessed in XXXX Servicing customer service is a lack of any clarity in policies and procedures, which cascades to uncertainty about my participation in the economy.
Company Response: Closed with explanation
2019-03-10
ME
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I have faithfully been making payments on time since the day my loans were in repayment. Suddenly today ( XX/XX/XXXX ) when I access my online account to get tax documentation for my accountant I shockingly saw a letter threatening loan defaulting and negative reporting to creditors over an overdue {$5.00} interest payment from XX/XX/XXXX that I WAS NEVER NOTIFIED ABOUT!! I have even called to speak with XXXX about questions I had should I change employers and whether or not I'd still qualify for PSLF if I did between now and XX/XX/XXXX and no one could mention to me about this {$5.00} overdue payment?? What's the point of XXXX having my contact information if they don't call, email or write any letter or warn me in any way of what is going on??!! I'm horrified and want the issue resolved. Since discovering this today, I went ahead and scheduled to pay the monthly balance on monday XX/XX/XXXX since payments aren't accepted on weekends and today is Saturday. On XX/XX/XXXX, I hope this can all be resolved and I do not want anything negatively reported to any creditor and if it has been since XX/XX/XXXX I want it removed and taken back. I plan to file a negative credit dispute with them and will take this to my state attorney general for further support and for XXXX to take accountability of their improper management and neglectfulness on communication.
Company Response: Closed with explanation
2019-03-10
CA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I was not told that interest would capitalize on my loans with XXXX XXXX XXXX when I was in forbearance in XXXX. I was in the process of trying to enroll in IBR and instead directed into forbearance as a better option. I recently looked at my records and there are multiple charges of interest capitalization totaling over {$65000.00} between XXXX and XXXX. At the time I was in XXXX and thought that it was just the interest from XXXX school capitalizing, but looking back at the account now, something is suspicious and I see at least {$65000.00} of interest that capitalized between XXXX that doesn't make sense on their paperwork and seems excessive. There is {$28000.00} of interest that capitalized in XX/XX/XXXX when my grace period from XXXX school ended which makes no sense since the interest was already capitalized on earlier statements and I was not even in forbearance. It happened again when I was in forbearance but again, I was not told that the interest would capitalize when in forbearance, just that it would accrue.
Also, I have made payments in the past year to completely wipe out certain loans and then the next month there was nearly {$1000.00} back on the account. When I try to resolve with the company they always have an explanation, but not one that really makes good sense.
I just thought I had overlooked something, but now I have heard that they are making errors like this and have been looking into my account and find it almost impossible use their system to understand my loan balances and how the balances are being calculated. I feel very uncomfortable, similar to when I had a property manager who turned out to be stealing from me by using a rigged spreadsheet to calculate my revenue.
I have a significant amount of student loan debt from XXXX school ( {$260000.00} borrowed initially ) however over {$200000.00} in interest has accrued since I have been in XXXX. It just doesn't make sense that {$65000.00} worth of interest could accrue within the first two years and then be capitalized without me being told this would happen. If this is an error the interest that has been charged on these amount will need to be recalculated as well because I should not have to may interest on principle that was improperly capitalized interest.
The amounts they report that I have paid in total so far also continues to fluctuate and seems to be wildly inaccurate on some of their spreadsheets and account statements. There is not good information and easily accessed information on the website. It is very difficult to make sense of how they are keeping track of the principle and interest.
Something is wrong and I need to get it cleared up.
Company Response: Closed with explanation
2019-03-10
Clarkesville, GA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I have a XXXX XXXX account that handles all of my student loans.
I had financial hardship was forced to put my account in forbearance.
The most recent time was in XX/XX/XXXX and I had made payments in XX/XX/XXXXand XX/XX/XXXX - however in XX/XX/XXXX, after the forbearance period ended and I made immediate payments, XXXX still dinged my credit report which dropped my credit score drastically ( near 100 points ) - My account is in good standing - last time I talked to a XXXX rep I was told that I just had to dispute it.
Please help. I know I had been behind on some payments in the past and these are student loans to a degree a never got. Im still in my late 20 ' and finally learning about credit, I am finally making a better income and just want to get my financial life on track.
Company Response: Closed with explanation
2019-03-10
Quartzsite, AZ
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Complaint: I have student loan accounts on my credit reporting that I did not authorize. I have never applied for student loans due to the fact that I never attended college. This information is incorrect and does not belong to me. I have reason to believe that my personal information may have been compromised.
Company Response: Closed with explanation
2019-03-10
Bay Head, NJ
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Don't agree with the fees charged
Company Response: Closed with explanation
2019-03-09
Oxford, GA
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: In XXXX of XXXX I requested a due date change from my loan servicer XXXX XXXX XXXX. In the course of processing the due date change they also recalculated my income driven repayment plan. Not only should they not have recalculated my income driven repayment plan, but they also recalculated it incorrectly, so my monthly payment nearly doubled and my wife 's payment nearly tripled. I have spoken two different XXXX XXXX supervisors who have admitted that this mistake was made by them, but nothing has been done to correct this mistake. My wife had to request a forbearance, because we could not afford our loan payment that was under {$500.00} a month combined, but jumped to over {$1200.00} combined after the XXXX XXXX mistake. Both my wife and I are public school educators and we are seeking public service loan forgiveness. But since we can not make payments because they XXXX XXXX error has made payments unaffordable, my wife has now missed out on 6 months of loan forgiveness and I have missed out on two months of loan forgiveness. I contacted XXXX XXXX in XXXX of XXXX and I was told to submit re-certification paperwork, and I did this only to find out that I needed a recalculation, not a re-certification. I spoke to a XXXX ( Id # XXXX ) on XX/XX/XXXX and she informed me that a recalculation would be complete by XX/XX/XXXX. On XX/XX/XXXX I spoke to XXXX ( # XXXX ), XXXX ( # XXXX ) and XXXX ( # XXXX ), and I was assured that my issue would be " expedited '' and everything would be corrected. This still has not been done as of today, XX/XX/XXXX. I am not being permitted to participate in the Income Driven Payment plan that I am eligible for because XXXX XXXX refuses to correct the mistake that they made in XXXX of XXXX. It has been six months and I can not get XXXX XXXX to do anything, and I need outside help with this.
Company Response: Closed with explanation
2019-03-09
Washington, DC
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I am ( at least attempting ) to be part of the public service loan forgiveness program.
Because my employer helps me with my payment due each month, I have multiple payments each month that come in at different times to satisfy my monthly balance. Due to this scattered payment, I have tried multiple times to get guidance on what payments count in order to ensure my total payments are qualifying each month and I am not making excess payments that dont count towards forgiveness.
The only regulatory requirement about the timing of the 120 payments is that they not be made later than 15 days past the due date, but I have been told that some of my bill satisfying payments may not be qualifying because they were made too early. I have been told completely inconsistent policies regarding early payments by different representatives and every time I ask for a written policy so that I can fully understand and ensure I am complying with it, I am told no written policy exists.
After my number of qualifying payments reported by the XXXX XXXX was far lower than the number I believed I had made, I promptly sought clarification. I was told the only way to review this was to make a formal request for a review of payments and wait for the company to complete a unilateral review that would take an entire year. This review would not provide any transparency or allow me to have a discussion with a human doing a review, all while 12 months of potentially qualifying payments pass while I am potentially still not making qualifying payments despite satisfying every bill because no one can provide me with a clear understanding of what the early paying policy for a monthly bill actually is.
This lack of transparency and failure to communicate requirements that end up disqualifying payments that public service workers are diligently making on their monthly bills completely defeats the purpose of this program and discourages program participation.
Company Response: Closed with non-monetary relief
2019-03-09
Raleigh, NC
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Company Response: Closed with explanation
2019-03-09
NJ
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Received bad information about your loan
Complaint: I have had issues with XXXX since XXXX. I had an issue in XXXX that I tried to address regarding a rebate I was eligible for. They wouldnt address my issue seriously so I complained to the XXXX. Of course then they addressed my complaint and came up with some ridiculous rationale for why I am not eligible.
When I recently saw they were in the news because they were being sued for manipulating interest, rates, losing payments so people wouldnt be eligible for public loan forgiveness etc. I started looking into the details of my loan. Thats when I found several discrepancies.
On XX/XX/XXXX According to Federal Student Aid website- I consolidated two loans- Unsubsidized for {$54000.00} and subsidized for {$22000.00}. Supposedly my interest rate when I consolidated was 7.125 % - it is now 6.875 % because I use direct debit, which deducts .25 % from your interest rate.
I have documentation from XX/XX/XXXX I received a letter form XXXX addressing my complaint to the XXXX stating my Original principle balance was : {$22000.00} & $ XXXX interest rate of 7.375 % - When I called on XX/XX/XXXX number XXXX : they couldnt tell me - What company consolidated my loans because I didnt consolidate with them- - What my original interest rate was before I consolidated - Didnt have the correspondence from XX/XX/XXXX I requested my promissory note and detailed breakdown of monthly interest and principle of the duration of the loan. I have yet to receive that so I may be filing another complaint depending on what that states and the discrepancies that may be found. Im concerned I have been charged the 7.375 % interest rate instead of 6.875 % My current complaint focuses on my repayment terms. 2 years ago I called and asked if I could change my terms, decrease the amount of years, which would increase my payment. They stated I couldnt do that and the only option would be to pay more per month- I started paying {$270.00} more per month. - {$900.00}. When I called on XX/XX/XXXX I inquired about this- the repayment term is 345 months. The representative stated XXXX DOESNT DICTATE the repayment terms on consolidated loans the Department of Education does, which states 345 months.
I then asked if that is the case why when I was on IBR-PS does it state my repayment term is 146 months, he stated that is the only payment plan with different repayment terms.
I didnt feel this information was accurate so I researched it online- studentaid.ed.gov it states FFEL program repayment plans- Eligible loan : Direct unsubsidized, subsidized loans, subsidized and unsubsidized federal Stafford loans , ALL PLUS loans and ALL consolidated loans ( direct and FFEL ) Monthly payment and time frame : payments are a fixed amount that ensures your loans are paid off within 10 years ( within 10 to 30 years for consolidation loans ) Eligibility and other information : - All borrowers are eligible for this plan This goes against XXXX statements I contacted the department of education on XX/XX/XXXX ; I spoke with them via chat so I had a paper trail.
XXXX XXXX ( XXXX ) stated On our website, I do see that a direct consolidation loan can increase the time borrowers have to repay their student loans from 10 years up to 30 years. The length of time you have to repay your loan depends on what repayment plan you have selected with your current loan servicer.
I asked, Ok, so its 10 to 30 years so there are options, because they are stating that there is only one option. Do I understand this correctly?
XXXX XXXX. ( XXXX ) Yes that is correct. You can discuss repayment options with your current loan servicer. Borrowers have different needs, so there are several repayment plans.
I am making a complaint through CFPB because I dont trust what XXXX tells me. Its clear to me that are trying to take advantage and make the most money possible by defrauding people. I have read COUNTLESS articles outlining the same issues.
Company Response: Closed with explanation
2019-03-09
TX
Dealing with your lender or servicer
Student loan: Federal student loan servicing
Trouble with how payments are being handled
Complaint: I am being harrassed my my lender XXXX XXXX about making a payment. I informed them and sent my class schedule from the XXXX XXXX college website with my student number proving my enrollment. I have been enrolled and attending my local XXXX college since 2015. My school says that they send an update to XXXX and they refuse to do their jobs and update the information or reach out to XXXX when they need more information. I don't understand why I have to continutously do their jobs. They are now threatening to report my lack of payment to the credit bureaus. It is my understanding that I do not have to make payments while enrolled in at least 6 credit hours.
Company Response: Closed with explanation
2019-03-09
Phoenix, AZ
Problem with a credit reporting company's investigation into an existing problem
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Their investigation did not fix an error on your report
Complaint: I have a loan with FEDLOAN and XXXX XXXX XXXX, XXXX. I have always made my payments on time. For some reason I realized that there was a late payment on my credit report. As you can see, I have always had a stellar payment record with this company. I tried contacting both XXXX, XXXX, FEDLOAN and XXXX XXXX XXXX, XXXX with no successful resolution. XXXX and XXXX were reporting me late. There was definitely an error on their part. I was never 30 days late.
Company Response: Closed with non-monetary relief