Date Received: 2020-04-02
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: XX/XX/2020 my student loan payment was due. For the first time ever I saw a red text below my payment saying it was past due. Payment was not taken out until following Tuesday. I reached out to their fed loan XXXX page. They messaged me back said someone would reach out to me. On Thursday I got a call I did not recognize. I got a voicemail apparently from someone from fed loan. They wanted me to call them back at XXXX which I did but it sound like a scam because the first thing I heard was a voice recording saying were excited to offer you a special promotion followed by the question of is someone in your house 50 years or older. Also this person called from a different number XXXX. Im in the public student loan forgiveness program.. I do not want fed loans system errors disqualifying me from the program. I make my payment on time every time! They still have not proved to me that this issue is resolved. Please help make sure their business practices or more thorough so I can get an answer.
Company Response:
State: PA
Zip: 190XX
Submitted Via: Web
Date Sent: 2020-04-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: My loans and my wifes were initially federal student loans I believe through the FFEL program. American Education Services ( AES ) is stating the loans are not federal loans and do not qualify for pause of interest and payments through the CARES act. Ive contacted AES through email, XXXX, and via phone within the past 3 days ( XX/XX/XXXX, XX/XX/XXXX)
Company Response:
State: PA
Zip: 152XX
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: AES ( American Education Services ), has an online portal for COVID-19 relief for borrowers, which, despite passage of the CARES Act, still advises that all interest on my federal student loans, will be accrued and capitalized during the forbearance period. Per the language of the recently passed CARES Act, '' Loan Payment Suspension : Suspends payments automatically for federal student loans through XX/XX/2020, with no interest accruing or penalties during the period of suspension. '' So the information on the AES website is misleading, confusing and incorrect as it pertains to students with federally backed student loans. I think AES should have to demonstrate why they still are communicating inaccurate information on its website to customers, despite the passage of the CARES Act as of XX/XX/2020.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: On XX/XX/XXXX I called Fedloan to confirm that XX/XX/XXXX payment was not going to be taken out of my account due to the CARES Act Covid-19 response bill having been signed into law. I was informed at this time that Fedloan is claiming that suspended payments during the Covid-19 forbearance period will not count towards PSLF qualifying payments. I was encouraged to continue making payments by both representatives : XXXX # XXXX and XXXX # XXXX. This is in direct contradiction with what the Cares act states : SEC. 4513. TEMPORARY RELIEF FOR FEDERAL STUDENT LOAN BORROWERS. ( a ) In General.The Secretary shall suspend all payments due for loans made under part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq. ) for 3 months. ( b ) No Accrual Of Interest.Notwithstanding any other provision of the Higher Education Act of 1965 ( 20 U.S.C. 1001 et seq. ), interest shall not accrue on a loan described under subsection ( a ) for which payment was suspended for the period of the suspension. ( c ) Consideration Of Payments.The Secretary shall deem each month for which a loan payment was suspended under this section as if the borrower of the loan had made a payment for the purpose of any loan forgiveness program authorized under part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq. ) for which the borrower would have otherwise qualified.
Company Response:
State: NH
Zip: 03054
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-04-01
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XX/XX/2020, the CARES Act was signed into federal law indicating that borrowers with federally backed loans would have their payments suspended through XXXX XXXX, 2020 and the corresponding interest waived. As for borrowers in the Public Service Loan Forgiveness Program ( PSLF ), the law clearly states that each month of suspended payments would count towards the 120 required payments under this forgiveness program. My loans are handled by FedLoan Servicing ( FLS ) and I am enrolled in the PSLF program. As of today, XX/XX/2020, FLS has not updated the information on its website reflecting these changes implemented via federal law. In fact, FLSs website currently ( and erroneously ) states that suspended payments will not count towards the PSLF payoff. Ive also contacted FLS at least three times in an attempt to get guidance on how to proceed since my loan payment due date is swiftly approaching. The customer service reps have either been completely unaware of any changes to be implemented under the CARES Act or have provided guidance that is clearly contradictory to the text of the new federal law. Other customer service reps have repeatedly recommended emergency forbearance which is different from suspension ; forbearance would disqualify skipped payments from being counted towards PSLF. FLS is purposefully misleading customers about options available during this time of financial instability, and also withholding important information that impacts the financial status of thousands of borrowers. FLS has also failed to provide borrowers with a clear timeline regarding implementation of the CARES Act.
Company Response:
State: VA
Zip: 22314
Submitted Via: Web
Date Sent: 2020-04-01
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have been on income based repayment since XX/XX/XXXX. During this time, I have had multiple services and am currently with Fed Loan. I have submitted my employment certification form to fed loanfor my employer from XX/XX/XXXX to XX/XX/XXXX. This was accepted as a qualifying employer. I have made 81 payments from XX/XX/XXXX to XX/XX/XXXX. This is based on review of my bank statements to make sure payments were made. However, the count on the website for qualifying payments is still 21 ( i.e. 5 years worth of payments is missing ). I asked for a manual count in XX/XX/XXXX. I then reached out to the fed loan ombudsman around XX/XX/XXXX. I have reached out to them multiple other times for status updates and they verify that manual count is still not completed. Once i submit my new employer certification from XX/XX/XXXX to present, I should be at 102 payments ( close to forgiveness which occurs at 120 ).
Company Response:
State: PA
Zip: 18018
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: In XX/XX/XXXX, XX/XX/XXXX, they continue to contact my references listed on my loan who have no bearing on paying this loan. They will not lower my payment, they change every other day on the overdue days. They mis report payments. Their interest rates constantly change and not within the market rates.
Company Response:
State: MA
Zip: 01876
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have been trying to get a IDR and loan forgiveness for a year now. Each time it is denied need this paper that paper, to which they already have it is never ending. I cant keep doing this with phone calls and paperwork. Its exhausting to say the least I need help.
Company Response:
State: PA
Zip: 156XX
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: As recently as XX/XX/XXXX, I have requested several times since XXXX to have my PSLF qualifying payments reviewed by Myfedloan.org. The only response I received was in XX/XX/XXXX, saying that at that time I had 77 qualifying payments. I have been making payments since XX/XX/XXXX - which means currently I should have around 109 qualifying payments - and in XX/XX/XXXX I should have had approximately 97 payments - I have bank statements showing these payments were made, and have been at the same non-profit qualifying employer since XXXX. It looks that the review is still missing approximately 20 qualifying payments. I have asked to have this reviewed 3 times since XX/XX/XXXX and have yet to receive a response. I have asked that they please recalculate my qualifying payments, or send me a response explaining the discrepancy as to why there are 20 less payments than there should be. They're most recent response came at the end of XX/XX/XXXX, stating " Since each account must go through a detailed review process, providing you with these details can sometimes take a great deal of time. '' It has now been another 2 months with no response.
Company Response:
State: UT
Zip: 84106
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-03-31
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: FedLoanServicing is deliberately misleading borrowers enrolled in the Public Service Loan Forgiveness program about the relief benefits they can take advantage of through the CARES Act. This is not OK. Please fix by having myfedloan.org make a corrective statement on their website. Thank you. On XX/XX/2020, FedLoanServicing has incorrect information on their website because it provides a false interpretation of the CARES Act ( Sec 4513 ( c ) ) by stating " Special Considerations for Borrowers Pursuing Public Service Loan Forgiveness or Loan Forgiveness Through an Income-Driven Repayment ( IDR ) Plan : The time spent on the emergency administrative forbearance will not count toward your required payment count. '' ( https : //myfedloan.org/borrowers/covid ) The CARES Act in Section 4513 ( c ) states the complete opposite of what MyFedLoan.org states : " Consideration Of Payments.The Secretary shall deem each month for which a loan payment was suspended under this section as if the borrower of the loan had made a payment for the purpose of any loan forgiveness program authorized under part D of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1087a et seq. ) for which the borrower would have otherwise qualified. ''
Company Response:
State: CA
Zip: 958XX
Submitted Via: Web
Date Sent: 2020-03-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A