Date Received: 2020-01-16
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I originally contacted FedLoan regarding a change ( DECREASE ) in my number of qualifying PSLF payments made and received a response in XX/XX/XXXX. This is the message I sent : " On my MONTHLY DIRECT DEBIT BILL dated XX/XX/XXXX it showed 2 loans disbursed XX/XX/XXXX with a TOTAL OF 56 and 55 qualifying PSLF payments made. Now, on my MONTHLY DIRECT DEBIT BILL dated XX/XX/XXXX it shows 3 loans disbursed XX/XX/XXXX and now my TOTAL qualifying payments have been reduced to 2, 2, and 3. " When I asked for clarification I was told that my loan accounts needed " extensive review '' to count all the qualifying payments. I waited until XX/XX/XXXX and followed up with another email correspondence and received a very similar message. It is now XX/XX/XXXX and I still do not have an accurate count of my qualifying PSLF payments made. Thank you.
Company Response:
State: OH
Zip: 44122
Submitted Via: Web
Date Sent: 2020-01-16
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-16
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: FED LOAN SERVICING. They will not remove the duplicate loans from my credit report. Having duplicate student loans on your credit report can seriously mess up your finances. This error makes it appear to credit bureaus and lenders that you have more debt.
Company Response:
State: SD
Zip: 57106
Submitted Via: Web
Date Sent: 2020-01-16
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-16
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: credit furnisher will not report accurate and complete information. they have continually stated the information they are reporting to the credit bureaus is accurate when in fact more than 20 violations have been identified in this one tradeline. I feel they are intentionally refusing to cooperate with 15 U.S.C. 1681s-2 / FCRA 623.
Company Response:
State: NV
Zip: 89509
Submitted Via: Web
Date Sent: 2020-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-15
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have received a XXXX XXXX XXXX XXXX discharge. Accounts are reflecting information that is negative.
Company Response:
State: TX
Zip: 75104
Submitted Via: Web
Date Sent: 2020-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-15
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: This particular account situation that is lately filing on my own credit document has a seriously unfavorable relation to my personal ability to obtain a present loan application. I highly recommend you generate verification that Credit Union has been reported completely in accordance with the Fair Credit Reporting Act regulations, it's really a serious problem to misreport. More confirmation of the aforesaid item too. My proper request must over, I was never 30 days/60 days/120 days late in any of my payments and I'm not greatly tuned in to the date opened so I prefer to ask you be investigated as soon as possible and confirmed to be correct. Thanks!
Company Response:
State: SC
Zip: 29615
Submitted Via: Web
Date Sent: 2020-01-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-16
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I am writing to complain about how interest is calculated to my student loan which isn't how I understood it would be charged when I started repaying. For XXXX I paid {$3800.00} to my loan provider. The interest that was collected for the year is {$2300.00}. which means {$1500.00} went to the principal amount which is currently {$51000.00}. My loan interest rate is 4.5 %. This means that I paid more in interest to the lender than what was applied to my loan. If you do the math, 60.8 % of what I paid for XXXX went to interest. This is far, far more than 4.5 % interest. By the time I finish paying off my loan balance I will have paid almost two times the amount that I borrowed which is not 4.5 %. This is just wrong. Students are misled when it comes to the methods lenders use to collect the absolute maximum amount of interest they can while making it sound like a fair agreement where you pay just 4.5 %. Another complaint I have is that I defaulted on my loan thanks to the recession in XXXX where I was unable to find work. When I found employment and was able to start paying again I had to enter into a loan rehabilitation plan in order to start paying back my loan and was charged 18 % of my principle balance just to be able to start paying back my loan. This is just wrong also. My last complaint has to do with the school that deceived me also. I was told they were an accredited college and that my credits would transfer to the other colleges and universities. It was my plan to attend college after getting my associated degree to get my engineering degree. When I enrolled I was informed that my credits from XXXX would not transfer to the state XXXX college I was enrolling in and that I would have to take all the classes over again. Not only that, but the school I attended was shut down because of deceptive tactics and other dishonorable methods. I feel like I have been totally robbed. It baffles me how young adults are taken advantage of and misled by our educational and lending institutions. This is so wrong and so unfair, and it needs to be correct. If we have to mislead people in order to make huge profits then we are selling a product or a service that has no business being sold. When it's all said and done, I will have paid over {$80000.00} for an associates degree from a school that was shut down because they were corrupt. I am truly disappointed with this system and how the people who are keeping this country and economy running competitively are so frequently violated. Regretfully, XXXX XXXX
Company Response:
State: TX
Zip: 77845
Submitted Via: Web
Date Sent: 2020-01-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-15
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have been on an income driven payment plan for my student loans for several years ( REPAYE program ). Last year ( XXXX ), while my loans were serviced with XXXX I recertified for the IDR program and the amount due for the next year was calculated at {$1000.00} to begin on XX/XX/XXXX ( XXXX until then ). Shortly after recertification, I transferred my loans to FedLoan Servicing. I payed them {$1000.00} in XXXX, XXXX and XXXX of XXXX and {$1000.00} in XXXX. On XX/XX/XXXX of XXXX, FedLoan Servicing sent me a letter to notify me that they had recalculated the amount due under my payment plan and that beginning XX/XX/XXXX, the payment would be {$1000.00}. I called them in XXXX to ask why they recalculated it and for a record of what information they used to calculate the new amount. Based on my AGI and household size, there is no mathematical way to arrive at a calculated payment for the REPAYE program of {$1000.00}. I contacted them again in XXXX to ask about their progress on the information I requested. In XXXX I received information, but it did not explain the wrong calculation. I called them that day ( XX/XX/XXXX ) to again argue that that their calculation was incorrect. Two people confirmed that the calculation was incorrect. One did not understand why it was wrong ( and told me that it didn't really matter since it was just off by {$15.00} ) and the other gave an explanation of some sort of error by XXXX ( which does not make sense ) and FedLoan Servicing 's calculation algorithm. I was also told there wasn't a way to change the miscalculation in their system. I was instructed to go to the studentloan.gov website and recertify again so that the correct payment amount would be recalculated. On XX/XX/XXXX I received the results of the recertification saying that FedLoan Servicing denied the recalculation. The incorrect payment amount still stands. The REPAYE calculation is simple. FedLoan Servicing has calculated it incorrectly. They have admitted it is incorrect. Yet, there seems to be nothing that can easily be done to correct this problem. I will continue to work with FedLoan Servicing to get it corrected.
Company Response:
State: MI
Zip: 49426
Submitted Via: Web
Date Sent: 2020-01-15
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-15
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I contacted fed loans in regards rehabilitate my student loans. I was informed that they transferred to department of education over 6 months ago. I contacted department of educate and they advised they do not have any record of the loans being transferred and that fed loans has my student loans. I contacted fed loans again and talked to a representative who advised me the loans were stuck in the system while being transferred and they do not have a timeframe for the transfer to be complete. I am trying to solve this matter but I am not able to due to fed loan and department of education not knowing where my loans are.
Company Response:
State: FL
Zip: 335XX
Submitted Via: Web
Date Sent: 2020-01-15
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-14
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: On XXXX, I sent a letter to American Education Servicers, better known as " AES '' to explain that my loan has passed the 25 years mark and that my loan should be cancelled and sent to the IRS as a cancelled debt. They have not shown me that they have proof of my original loan that would validate that it has been 25 years. They instead respond to my letter with a suspect copy of a document with " my signature '' and is dated XXXX. It does not have any information that is recognizably reflecting my school, current address or attendance date. I also just found out that all this time when I was asking for income-based repayment, all they did was keep giving forbearances instead of taking the calculating a payment for me based on my income all these years. In XXXX, AES also responded to my letter by just sending a " Your Payment Is Due '' statement. In XX/XX/XXXX, they denied me another forbearance and then sent another letter asking if I would want to request forbearance papers again. They are not honoring anything they have sent to me regarding the policies of student loan debt collection and know that my student loan should be closed out and cancelled immediately.
Company Response:
State: NJ
Zip: 07107
Submitted Via: Web
Date Sent: 2020-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-01-14
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: I was misled while enrolled at the University XXXX XXXX to think after obtaining a degree that they would help with job placement. I remember a guy named XXXX XXXX being my enrollment advisor, but work in my field never came. I've taken odd jobs to try and pay off the debt, but it never seems to go away. I've tried applying to jobs without listing XXXX as a college I've attended and gotten interviews. I've been told my job recruiters that they don't see a degree from XXXX as being valid. I was told while enrolled my 4 year degree was going to cost about XXXX. I later on found out that after interest it's about XXXX owed. I was tricked into signing a promissory note with my advisors at the XXXX. I was told that financial aid was accepted and because I had credits from XXXX XXXX that they'd do the legwork for me in having those classes transferred over. It wasn't until later that I found out that was a lie and regardless if I quit or continued classes I'd still owe XXXX in full. Young and afraid with not much help from anyone to guide me I believed my advisor at XXXX. Not until recently I've researched the XXXX and read alot about other student 's dissatisfaction while enrolled and possible lawsuits. I'm just looking to have my loan discharged because they failed to land me a job after finishing my course and they failed to educate me at XXXX years of age on what a promissory note was.
Company Response:
State: GA
Zip: 30092
Submitted Via: Web
Date Sent: 2020-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A