Date Received: 2019-11-15
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I graduated from school in XX/XX/XXXX. I have 2 loans on AESSUCCESS.org. One is owned by XXXX XXXX and the other is XXXX XXXX. I have been paying on these loans for almost 10 years. The XXXX loan is a {$5000.00} with a variable rate averaging {$50.00} a month. Using that average I have paid around {$5700.00} and my outstanding principle balance as of today ( XX/XX/XXXX ) is still {$3900.00}. So out of the {$5700.00} I paid into it, my balance has gone down only by a little over {$1000.00}. The expected payoff as of now is XXXX/XXXX/XXXX. That's over {$6000.00} dollars more I'm expected to pay for a {$5000.00} loan. The 2nd loan from XXXX XXXX is a {$15000.00} loan with a variable interest rate averaging {$100.00} a month. I've paid around {$11000.00} into this loan already and the outstanding balance as of today ( XX/XX/XXXX ) is {$11000.00}. So that is only about {$4000.00} drop in principle since repayment started. The expected payoff date is XXXX/XXXX/XXXX. That's another {$12000.00} minimum in payments. I've had no furloughs or delays in payments and have made every payment on time. Its obvious my money is not being dispersed correctly. As it stands on both loans, I would be paying back over double what I took out.
Company Response:
State: FL
Zip: 32703
Submitted Via: Web
Date Sent: 2019-11-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-14
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In short, FedLoan Servicing can not be trusted to correctly count the number of qualifying payments made for PSLF. They have repeatedly given me incorrect and misleading information about the number qualifying payments I have on my loans before I am eligible for forgiveness. As I have certified my employment properly, these numbers should be continuing to increase by one qualifying payment per month. Instead, here are the dates of letters I received from FedLoan Servicing and the number of qualifying payments they told me I had made in that letter : XX/XX/XXXX 52 Qualifying Payments XX/XX/XXXX 52 Qualifying Payments XX/XX/XXXX 52 Qualifying Payments XX/XX/XXXX 63 Qualifying Payments XX/XX/XXXX 74 and 77 Qualifying Payments ( for the two federal loans I have always paid together ) XX/XX/XXXX 67 and 76 Qualifying Payments ( for the two federal loans I have always paid together ) XX/XX/XXXX 44 Qualifying Payments XX/XX/XXXX 84 Qualifying Payments XX/XX/XXXX- Letter from FedLoan- CFPB Response 84 Qualifying Payments XX/XX/XXXX Letter from FedLoan- rejection of PSLF Application 100 Qualifying Payments Most notably, how could the number of qualifying payments between XX/XX/XXXX and XX/XX/XXXX DECREASE by over 20 payments? How could it then increase in 4 months (XX/XX/XXXX ) by 40 payments?? They are just throwing random numbers out there. I was rejected for PSLF on XX/XX/XXXX and in that rejection FedLoan stated I had made 100 qualifying payments. Just two months earlier, on XX/XX/XXXX, they told me I had made only 84 qualifying payments. This is not possible. This organization has no idea what is going on. Of course they did not provide an accounting of the payments they counted or didn't count as qualifying with my XX/XX/XXXX rejection, because they are just throwing random numbers out there. I have requested an accounting from them directly anyhow. According to my records, I have made 120 qualifying payments, and it is undisputed I have worked for a qualifying federal government agency continuously since XX/XX/XXXX. I should qualify to have the balance of my federal student loans forgiven under PSLF.
Company Response:
State: DC
Zip: 20010
Submitted Via: Web
Date Sent: 2019-11-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-14
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: I've attended XXXX XXXX XXXX College and also XXXX University. To be honest, I was XXXX to even take the money and didn't realize how high my payments, late fees, intererst would be. I've tried multiple times to show them that I now make good money, but I have a lot of expenses and I can't commit to a payment that's over {$400.00} per month. I'm willing to commit to something but I know if I commit to {$400.00} per month, it will still take me decades to pay off my debt, but if I get caught up in bind, I will be right back in this position down the road. My credit score was FINALLY getting back to around {$600.00} after working with my bank and doing well with a secured card. I was excited to go get a car from a dealership and not a buy here pay here place with a 30 % interest rate. Recently, my score dropped 50 POINTS because they decided to increase the balance again. PLEASE HELP ME GET THIS ON TRACK, THE INTEREST RATES, LATE FEES, AND PAYMENTS ARE TOO HIGH AND IT'S NOT FAIR!!
Company Response:
State: VA
Zip: 23505
Submitted Via: Web
Date Sent: 2019-11-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-14
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: In XXXX of XXXX I submitted the necessary documentation to remain in an income based repayment plan for my student loans and received documented verification that my application was approved through XXXX. At the same time I submitted public student loan forgiveness payment verification paperwork to certify that my payments counted toward public student loan forgiveness. In XX/XX/XXXX I received notification from FedLoan that they would be taking over my loan services from XXXX going forward as apart of the public student loan forgiveness program and that my direct deposits and monthly payments would continue as with my previous loan service provider. Their communication also stated that my current income based repayment plan did not qualify for public student loan forgiveness and that I would need to change plans in order for payments to count toward the program. This communication did not say if I did not recertify it would change my current repayment amounts effective immediately nor did it include a date by which the recertification needed to be completed in order to avoid an increase in payments. On XX/XX/XXXX I received a letter from FedLoan dated XX/XX/XXXX stating that because they had not received documentation of my income that I would be automatically placed on the 10 year repayment plan and my next bill would be {$2300.00} on XX/XX/XXXX. I immediately resubmitted an application for income based repayment by fax, mail and the online FedLoan account. I reached out by phone and email to FedLoan to try to expedite my application request, an effort taking >4 hours, without response. XX/XX/XXXX I received electronic communication that my application would be processed by XX/XX/XXXX but I would still be required to pay {$2300.00} on XX/XX/XXXX until the income based repayment application was approved. I again contacted FedLoan to try to speak to someone to expedite my application as I am unable to make the {$2300.00} payment XX/XX/XXXX after waiting for hours I was finally able to speak to someone who expedited my request and placed a hold on the XX/XX/XXXX bill. I am complaining because 1 ) my recertification for income based repayment had already been processed and approved for this year ; 2 ) FedLoan gave me 2 weeks notice of the increase in my monthly loan payment and need to reapply for income based repayment ; 3 ) on the income based recertification/application it specifically states that if the repayment plan changes the loan service provider should default payments to the plan with the lowest monthly amount until reapplication has been completed and FedLoan placed me on the 10 year repayment plan by default, the greatest monthly repayment plan ; 3 ) I spent >8 hours trying to contact FedLoans and submit documentation they asked for by various means ( as several different sets of instruction were provided ) with limited success. This experience caused me great amounts of stress, took away from my productivity at work and, most importantly, was entirely avoidable if the loan servicer had provided a transparent process including steps needed to successfully transfer my loans, taken the time to transfer my already approved income based repayment plan, or given me more notice to re-apply prior to defaulting to the greatest monthly repayment plan.
Company Response:
State: MN
Zip: 55904
Submitted Via: Web
Date Sent: 2019-11-20
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-14
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I currently applied in XX/XX/XXXX for the student loan forgiveness program. At first the program was under the name " XXXX XXXX XXXX '' it was then " sold or transferred '' to XXXX XXXX XXXX. When I applied and was granted, I had to provide bank statements, documents signed by my principal, and tax information. At the time I qualified for the 10 year forgiveness program and began my payments. When information for renewal came, I renewed my information XX/XX/XXXX and continued on with payments. They were automatically withdrawn. XXXX XXXX XXXX XXXX PPD ID : XXXX ACH debit {$61.00} Payments stopped in XXXX, however I didn't notice until last month. As I have been trying to inquire as to what is going on, I have received little to n information. I was actually sent an email from a coworker regarding a " lawsuit '' against XXXX at the end of XXXX and I checked payments to realize they hadn't taken one out for the last two months. I do not want to have a bad credit standing with the Student Loan people and have worked hard to pay off all my additional debt besides my Student loans due to this program. I am currently in the process of building a house and do not want this to affect anything.
Company Response:
State: KY
Zip: 403XX
Submitted Via: Web
Date Sent: 2019-11-18
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-13
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I have attempted to log in to my account with FedLoan Servicing. After correctly entering my information, the website would load, then automatically log me out, saying it did so for my own security. After successfully logging in and then being automatically logged out several times, they informed me that my " account is locked for security purposes ''. I'm then instructed to email them to resolve the issue. However, the ability to email them requires me to log in. So when I try to email them to fix the problem, it states that my account is locked for security purposes. I'm then instructed to email them, and so on, in an endless cycle which presumably completes at the heat-death of the universe.
Company Response:
State: IL
Zip: 61761
Submitted Via: Web
Date Sent: 2019-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-13
Issue: Struggling to repay your loan
Subissue: Can't temporarily delay making payments
Consumer Complaint: they refuse to give me a collection forbearance until my consolidation loans go through
Company Response:
State: AR
Zip: 72032
Submitted Via: Web
Date Sent: 2019-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-13
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: As of XX/XX/XXXX my federal loans have been consolidated with fedloan servicing. At that point I made the transition solely for the Public Service Loan Forgiveness ( PSLF ) program. I made this clear with the representative and was told that was what I was signed up for. In between XX/XX/XXXX and XX/XX/XXXX I followed up on this multiple time throughout the years and came to find out in XX/XX/XXXX that they needed more forms to include the PSLF form and employment certification. Since then till this date I have honored their request to submit forms and proof of my XXXX XXXX employment with the XXXX XXXX XXXX XXXX, which I have been enlisted full time with from XXXX XXXX - presently. The multiple representatives I have spoken with stated I have been on track and had a case number XXXX after I got PSLF denial and submitted TEPSLF as I was told would be what forgives my loan. Today, I spoke with XXXX, employee number XXXX who stated without me knowing my account was in forbearance from XX/XX/XXXX -XX/XX/XXXX. During this time no one made me aware of this or sent me information concerning this. My frustration is this whole time, I've done what they have asked and believed after 10 years in the programs the loan would be forgiven. At any point if I was told during the conversations in which I asked continuously if there is anything else I need to do on my part and gotten consistent " no 's '' that this loan being forgiven would happen this year from what the representative told me on XX/XX/XXXX, at XXXX CST. It just appears to me their was every very little intention on forgiving my loan. Instead I'm left with the impression that this was a scam to receive interest funds from loans.
Company Response:
State: IL
Zip: 62221
Submitted Via: Web
Date Sent: 2019-11-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-13
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I graduated from the University XXXX XXXX XXXX XXXX XXXX in XXXX of XXXX. My student loans ( all federal loans ) came due on XX/XX/XXXX. I was initially with XXXX XXXX XXXX. I was then transferred ( not by my request ) to XXXX loans from XX/XX/XXXX until XX/XX/XXXX when I was then transferred again to My Fed Loans due to being under the Public Service Forgiveness program. For two years now I have been in contact with My Fed Loans about receiving credit for all payments made XX/XX/XXXX-XX/XX/XXXX. I call every 3-4 months and I am still told that this payment information has not come over. I attempted to call XXXX myself but they are no longer in business. Therefore, I have no proof of 10 months worth of payments that would go towards my 120 qualifying payments. I desperately need proof of these payments in order to get my forgiveness in the correct time-frame rather than a year later.
Company Response:
State: GA
Zip: 31768
Submitted Via: Web
Date Sent: 2019-11-13
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-11-12
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Please help, as this is 6 of the 10 years of payments towards PSLF. I consolidated my federal student loans in summer of XXXX and was originally with XXXX XXXX using Income base repayment. My loan payments then switched to XXXX with IBR and now my loans are with FedLoan Servicing with IBR as of XXXX. I am trying to get a correct count on the payments that are eligible towards the Public Service Loan Forgiveness. I have submitted paperwork for the time I was employed from XX/XX/XXXX-XX/XX/XXXX, all of which are eligible for PSLF. However, FedLoans is not counting any of the prior payments under XXXX or XXXX XXXX. I need help in having FedLoans acknowledge my prior payments as PSLF eligible. I have records of my payments with XXXX. However, I did not print out hardcopies or save files of my payments from XXXX and now I can no longer access their website. Thank you in advance.
Company Response:
State: NC
Zip: 27517
Submitted Via: Web
Date Sent: 2019-11-12
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A