Date Received: 2020-05-06
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I made a payment of {$500.00} on my student loan on XX/XX/20. 3 days later I had an outstanding interest payment of {$77.00}. This was after the care act was signed in XXXX. I've sent a dozen emails to my servicer, Fedloan, and keep getting told the interest has been removed, but it has not.
Company Response:
State: TN
Zip: 37211
Submitted Via: Web
Date Sent: 2020-05-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-05
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: MyFedLoan was my loan servicer up until recently. I have refinanced. In XX/XX/XXXX, the interest on my loans capitalized because ( the company claims ) that I did not submit timely income verification documents. The total loan balance increased from about XXXX ( and change ) to about XXXX ( and change ). After months of fighting, MyFedLoan admitted that the capitalization was in error. According to the company, the capitalization was " reversed '' in XXXX of XXXX, and ( allegedly ) backdated to the date of capitalization. For the last few months, I have been trying to verify how that capitalization was applied to my account. I have spoken with representatives as recently as XX/XX/XXXX and XX/XX/XXXX. This has been going on for months, and no one has been able to show me HOW the capitalization reversal was applied despite numerous requests. I am only told that the capitalization was reversed and applied. However, the balance of my loan was NEVER decreased to reflect that capitalization ( except to reflect payments I made myself ). Nonetheless, I continued to make on-time payments. I have never missed a payment while a MyFedLoan customer. In addition to the capitalization problem, I recently discovered that the interest on every single one of my loans ( subsidized and unsubsidized ) increased from XX/XX/XXXX to XX/XX/XXXX. Ironically, this is the same time period that the company claims that the interest capitalization was reversed. For example, two of the loans ' interest increased from {$65.00} to {$450.00}, and from {$76.00} to {$520.00}, respectively. Something is clearly wrong.
Company Response:
State: NJ
Zip: 07751
Submitted Via: Web
Date Sent: 2020-05-05
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-05
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: We've contacted the company several times to update the reporting of 90 day late indication on all of the student loan accounts. We've discussed all of the history of the account and it was in forebearance at the time the account was marked 90 day late. The account should have been marked as deferred. Payment history should be reflected as such. Instead it is being marked as 90 days late. The way the loans are reported they are being noted as 6 individual accounts. So not only does the 90 day late negatively effect the credit report it is duplicated 6 times over.
Company Response:
State: WA
Zip: 98087
Submitted Via: Web
Date Sent: 2020-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-05
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: To whom it may concern, I submitted a request to FedLoan Servicing to update the number of qualifying payments I have made towards my public service forgiveness program. They keep denying my request to update despite me having provided the required information. ( see attached documents which clearly lists my employers name and address, the fact that I am still employed at the organization and the date the document was signed by my HR department ). Additionally, the first letter that I received from FedLoans stated I was only missing the name of the institution. After this information was added and the document was resubmitted suddenly more information was missing from the exact same document I had initially submitted. This does not make sense. I had to file a complaints last year to get my number of qualifying payments updated. This company does not want to provide their customers with something as simple as providing the accurate number of payments an individual has made towards a forgiveness program. Best, XXXX XXXX
Company Response:
State: MA
Zip: 021XX
Submitted Via: Web
Date Sent: 2020-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-05
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: To whom this may concern : Thank you for taking the time to read this email. Im writing because I noticed that my most recent credit report contains 60-day late payments reported by FedLoan Servicing from 2014. These incorrect notes are being listed on all ( 9 ) loans that I have with them. - The payments should not have been reported as I was under a forbearance period. - Those forbearance was needed due to an XXXX XXXX XXXX that required multiple months to recover ( I was unable to care for myself without assistance during the recovery ) - I was told by FedLoans that there would be no negative credit reporting and the forbearance would protect me from any negative action. I've reached out to FedLoans to make them aware of the mistake, but I did not receive help in resolving the matter. As you may imagine, the impacts of this late payment has had a negative impact to my credit report. I have had excellent repayment history for all of my debt obligations, this is not an appropriate reflection of how I handle my responsibilities. Please help me resolve this matter. Thank you
Company Response:
State: CA
Zip: 94558
Submitted Via: Web
Date Sent: 2020-05-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-04
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: This complaint is against FedLoan Servicing, the Loan company that has been selected to help service the " Public Service Loan Forgiveness Program ( PSLF ). '' I have been trying to work with them for many years and continue to have difficulty with their review of my qualifying payments. They have re-reviewed my account ( at my request ), which takes over a year, and still have not responded to my questions regarding being forced into forbearance during their recalculation periods and the fact that I am still missing 20 qualifying payments. I should be eligible for loan forgiveness in XX/XX/XXXX, but have been given the " tentative date '' of XX/XX/XXXX. 1 ) The months of XX/XX/XXXX and XX/XX/XXXX were forced forbearance due to FedLoan Servicing needing to recalculate my payments. I still had to pay my bill ( which was over {$300.00} higher than my normal consolidation payment ) during that time. When I spoke with FedLoan Servicing, they said that they would refund the money from my XX/XX/XXXX payment as well ( if it didn't count toward my PSLF forgiveness at the time ) or use it toward a future loan payment. This never occurred, so I am asking if I may please receive the money for these months as a credit to my account OR have those 2 payments count toward PSLF. 2 ) I understand that XX/XX/XXXX was another time of forced forbearance due to FedLoan Servicing 's recalculations. However, when I go back into the online payment history, I do not see any other payments for this month and/or prior to this date being counted. I can go back to my paper files to verify the amount paid during these months if need be, please let me know if this information would be helpful to you, as I have consistently paid my monthly loan bill since XX/XX/XXXX.
Company Response:
State: HI
Zip: 96826
Submitted Via: Web
Date Sent: 2020-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-04
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In XX/XX/XXXX I was told my loan will go into deferment so I wasnt going to have to pay anything for XX/XX/XXXX as I look at my credit report I see I have 2 late payments on my credit report from XX/XX/XXXX and XX/XX/XXXX before my loan actually went into deferment in XX/XX/XXXX I feel like if I wasnt told that it will go into deferment I would have continue to pay as much as I could on my loan until it actually went into deferment
Company Response:
State: IN
Zip: 46219
Submitted Via: Web
Date Sent: 2020-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-04
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Paid student loan payment XX/XX/2020. Requested a refund per the CARES Act. Fedloan Servicing saying it will take 60-90 days. This is unacceptable practice. See below correspondence. Thank you for contacting FedLoan Servicing! A request was submitted to refund your payment received XX/XX/2020 in the amount of {$840.00}. Please allow 60 to 90 days for the payment to be received. Please use the " Contact Us '' link through your online account at MyFedLoan.org to submit inquiries via a secure email form. You may also call us toll-free at XXXX to reach our Customer Service Department, which is open Monday through
Company Response:
State: KS
Zip: 662XX
Submitted Via: Web
Date Sent: 2020-05-04
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-03
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have been disadvantaged by Fedloan whom I consolidated all of my student loans through in 2016. I used XXXX ( Nonprofit organization that I paid nearly {$400.00} dollars to assist me ) to consolidate the loans and this triggered for me to receive an application for the Public Service Loan Forgiveness program. At the time that the consolidation went through, I was told that I my PSLF application was accepted and approved and was placed on an affordable monthly payment. To my dismay, a year later while dealing with Fedloan to recertify for the employment aspect of the application, I would be told that I was never in the program due to them not receiving my application. Although I completed the form and submitted it multiple times to Fedloans ( faxed and emailed ), their representatives ( multiple conversations related to this topic ) would argue that they never received nor processed an application for my account. Over the course of a 5 year time span, I feel that I have been mislead and given very misleading information regarding my original application, its approval ( which I was told eventually that it was never processed because they never received the application despite multiple submissions ), payments made to Fedloan ( which the ones that were made I would later learn were never applicable to the program because of Fedloan mishandling/mismanaging my application ) and repayment options in which I was forced to go on the income driven repayment plan after multiple attempts to have successful reviewal and acceptance of the PSLF application. I have also been forced into a perpetual state of student loan forbearance because of my inabilities to afford the loan amounts that have been assessed to my account. Now that there is an active litigation process going on, I would like to become part of the movement in order to receive recompense for my loans that are now much higher than they originally were due to interest and penalties that have been applied to an already six-figure student loan debt. I am struggling and need intervention with this situation as I am drowning in debt and am unable to afford payments at this time under the IDR program.
Company Response:
State: MO
Zip: 641XX
Submitted Via: Web
Date Sent: 2020-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-05-01
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Interest isnt suppose to be added during this time.
Company Response:
State: MI
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-05-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A