Date Received: 2019-10-25
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: Reporting is incorrect on all credit reports. I am current on payments as of XX/XX/2019 and derogatory items are being reported.
Company Response:
State: MD
Zip: 20723
Submitted Via: Web
Date Sent: 2019-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-24
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: I have called over several months, and submitted a request more than a month ago now to formally have my student loan interest ammount looked into. I am on an in income based repayment plan and only have subsidized loans. The monthly payment amount I was told to make was detremined to be {$0.00} as I did not have a job. This means that the government ( because I have subsidized loans ) should be paying 100 % of my student loan interest, yet they are only covering approximatley 50 % and I have accrued nearly {$250.00} worth of outstanding interest. Again, my interest on this plan should be paid by the government as I have not ever received the governmetn interest susbidy for more than a year before ( i know that if you have received it for 3 years then the subsidy drops down to 50 % -- - that is not my situation. ) I was on a similar repayment plan for a year in 2015 and had VERY similar issues ( though at that time they failed to pay any of my interest at all that they were supposed to ). This took nearly a year and a half to resolve and I had to pay out of pocket and cover those illegitimate interest fees ( after the one year mark when I started to make regularly monthly payments ) at the time to ensure that my credit wasn't ruined. I would not be surprised if this were a regular tactic of MyfedLoan to get more money out of people and prey on their confusion regarding student loan payments.
Company Response:
State: ME
Zip: 046XX
Submitted Via: Web
Date Sent: 2019-10-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-23
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am writing this complaint over concerns that FedLoan Servicing has inadequately managed my student loans. I have had an account with this servicer since XX/XX/XXXX when two Direct Consolidated ( one Subsidized & one Unsubsidized ) Loans were dispersed. I have been making on time monthly payments to my lender in hopes of qualifying for Public Service Loan Forgiveness ( PSLF ). This program allows those working for non-profit organizations to receive complete loan forgiveness after 120 monthly payments under a qualifying income-based repayment plan. As a way to track progress, I am obligated to submit employment certification forms to FedLoan which confirms my eligibility and shows my time remaining in the program. Previously, I had received a letter directly from FedLoan Servicing indicating thetotal PSLF qualifying payments I made from XX/XX/XXXX until XX/XX/XXXX, in which it concluded was 32 qualifying payments. Ihave attached the supporting documentation. I have continued to make on time payments and submit employment verification since XX/XX/XXXX, but sometime between XX/XX/XXXX and XX/XX/XXXX FedLoan re-dispersedmy two Direct ( Subsidized and Unsubsidized ) Consolidated loans and created 3 new Direct Consolidated loan amounts ( now 1 Subsidized and 2 Unsubsidized ). In doing so they essentially reset my PSLF qualifying payment counts back to zero starting the Fall of XXXX. I am left with no clear indication that they will honor the previous qualifying loan payments. I have contacted FedLoan numerous times to rectify the counts and have received inconsistent explanations each time. On XX/XX/XXXX, I requested for a formal review to be made of my account and that the total number of qualifying payments be recalculated and updated. At that time I was told that my original 2 consolidated Direct loans were split into 3 new loans due to the amount of interest my loans were generating, but that all of my prior payments would still be credited despite the changes. I then this week called to follow up and was told that there is a pending review because FedLoan is waiting for documentation from my " prior loan servicer ''. They claim that FedLoanhas only been my loan servicersince XX/XX/XXXX, which is incorrect since they have been the servicer since XXXX. This to me indicates that they have lost all prior documentation of my on time, qualifying loan payments to FedLoan and I am concerned that all of my prior qualifying payments will not be counted.The total PSLF qualifying payment count should be approximately 51 payments from XX/XX/XXXX until XX/XX/XXXX ( the date of my most recent employment verification.
Company Response:
State: IL
Zip: 600XX
Submitted Via: Web
Date Sent: 2019-10-23
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-23
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I was denied Public Service Loan Forgiveness after making my 10 years of payments and told I didn't qualify because I was on the wrong payment plan. I was never offered any payment plan options. I have applied for the new Temporary Public Service Loan Forgiveness months ago but have been given no decision either way. Fed Loan, XXXX and others have been awful to deal with, giving me wrong information and terrible service.
Company Response:
State: CA
Zip: 95926
Submitted Via: Web
Date Sent: 2019-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-23
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: Loan Type : Federal. The XXXX XXXX XXXX XXXX ( XXXX ) at Pennsylvania Higher Education Assistance Agency ( PHEAA ) performed a review of my account. However, they provided some serious inaccuracies regarding the review. PHEAA responded that I submitted an Employment Certification Form ( ECF ) confirming your employment at XXXX XXXX XXXX XXXX from XX/XX/XXXX to XX/XX/XXXX, XXXX however, I have written them at least three letters advising them that I have submitted two other ECFs ; in XX/XX/XXXX, and on XX/XX/XXXX. The ECF submitted on XX/XX/XXXX advised that I had been employed with the XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, from XX/XX/XXXX until XX/XX/XXXX. PHEAA further responded that did not begin to repay your XXXX XXXX XXXX Federal Direct ( Direct ) Consolidation loan disbursed XX/XX/XXXX until XX/XX/XXXX. This is incorrect, I started repayment in XX/XX/XXXX, and had no forbearances or deferments. I have requested and have not received a full accounting of my payments. In addition, while PHEAA responded I made payment under an ineligible plan, they neglected to state I made the payments under the standard payment plan, and I have continued to do so to present date. PHEAA has not properly credit my payments under the PSLF payment plan. The balance of {$22.00}, XXXX should have been paid off or forgiven at this time.
Company Response:
State: AZ
Zip: 85283
Submitted Via: Web
Date Sent: 2019-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-23
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: My complaint is regarding the handling of my loans for the Public Service Loan Forgiveness ( PSLF ) program through FedLoan. Since my loans were transferred to them over a year and a half ago, I was told that I would be receiving information regarding a count of how many previous payments made through my old servicer ( XXXX ) would qualify for forgiveness. I have yet to hear from them regarding this count and have reached out to them on 4 separate occasions requesting an update. I have even reached out to their ombudsman group to follow up and have yet to hear anything. They have filed and completed my paperwork for IBR several times, especially when my income changes ( which increases my payment amount - and this is always done on time and quickly ). I'm not sure why it should take over a year and a half for them to give me an update regarding which of my previous payments count. This is halting my financial planning and affecting my daily budgeting. I have qualified my employment from the start of these payments ( dating back to 2012 ) but thus far, only have seen a count for 8 payments.
Company Response:
State: NY
Zip: 11710
Submitted Via: Web
Date Sent: 2019-10-23
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-22
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 complaint is in regards to old student loans from FedLoan through the gov FAFSA program. FedLoan refuses to remove OLD negative credit reporting and late payments from my credit report, causing severely damaged credit score and also leading to bankruptcy. Because of this i can not get approved for a credit card or for my first home purchase. Legally FedLoan is supposed to remove everything on my credit report that is more than seven ( 7 ) years old. The FedLoan student loan dates i'm referring to are from XXXX, XXXX and XXXX. We are now in the end of XXXX, approaching XXXX. There are over 20 late payments still reflected on my credit report causing my score to be low. FedLoan refuses to remove these old accounts. They are still reporting to ALL three major credit bureau 's ( XXXX, XXXX, and XXXX )
Company Response:
State: MD
Zip: 20904
Submitted Via: Web
Date Sent: 2019-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-22
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Summary Points : 1. XXXX ( student loan servicer ) provided me with erroneous information on multiple occasions indicating that I was not eligible for public service loan forgiveness ( PSLF ), a complaint was submitted in XX/XX/XXXX and they claim to have found no record of this ; 2. Based on the incorrect information I received from XXXX, I did not pursue PSLF ; 3. I subsequently discovered XXXX provided me with misinformation and that I am in fact eligible for the PSLF program ; 4. I have made 47 ( totaling nearly $ 35K ) payments on my student loans while employed by an PSLF-eligible employer, but only 9 payments have counted towards ( please see attached payment history and employment verification forms ) PSLF program goal of 120 payments. This is because XXXX gave me erroneous information, steering me into a PSLF-ineligible payment plan under the faulty pretense that I am not eligible for PSLF. As it turns out, I am in fact eligible and the 47 payments I have made so far meet or exceed what I would have paid under a PSLF eligible plan ; 5. I ask that all 47 payments ( as of XX/XX/XXXX ) be accepted as qualifying payments as : ( i ) I have paid as much money as I would have under a PSLF eligible plan ; ( ii ) my loan servicer improperly maneuvered me into entering a PSLF-ineligible pay ment plan using misrepresentations ( whether intentional or not ) ; and ( iii ) all of these payments were made while I was employed full time by a PSLF-eligible employer. I am an XX/XX/XXXX ( XX/XX/XXXX ) Veteran who served in the XXXX and was deployed to XX/XX/XXXX as a XXXX in XX/XX/XXXX-XX/XX/XXXX. I served my country for many reasons, one of which was the promise of financial help with college. This was a very attractive incentive for me as I come from a family with modest means. I was the first person in my family to be awarded a professional degree and navigated the process of applying and then paying for higher education on my own. The cost of professional school easily consumed all veteran benefits available to me ( GI Bill, State and Federal Tuition assistance programs ), thus federal loans became the only path through which I could afford higher education. During my professional studies, I unexpectedly I found myself caring for my father after a XXXX attempt as well as my oldest brother after he XXXX XXXX at a XXXX XXXX and was then out on XXXX ( my brother unfortunately subsequently died of an XXXX XXXX, highlighting another major catastrophe affecting our country ). I was happy to be able to support my father and brother during some difficult life circumstances but as I was myself a student at the time, this caused me to rely more heavily on federal loans, increasing my debt burden substantially. After graduation, I found myself with significant student loan debt but rather than entering a high paying job in the private sector, I chose to pursue further training in XXXX XXXX XXXX so I could go down a career path of helping veterans who have suffered worse than I. During this extra training my loan interest compounded. All of my personal and professional experiences detailed above have shaped my career path and goals and I now work with veterans who have experienced XXXX XXXX XXXX ( XXXX ) and on XXXX prescribing policies in an effort to combat the unfortunate XXXX epidemic that is affecting so many families across the country. I write today to draw attention to a student loan issue that affects me and so many other student loan borrowers : the mishandling and misrepresentation of the PSLF program. The PSLF guidelines state that if you are employed full time by a qualified public service employer, then you need to make 120 payments in a specific repayment program to have your loans forgiven. In theory, it is a great opportunity for those who chose to work in a public sector job ( which in many cases means foregoing the higher payments of the private sector ). The flagrantly mishandled execution of the program, has left me with a sputtering launch into my adult professional career and family life. XX/XX/XXXXincorrectly told me that my loans were not eligible for PSLF due to a payment that I had missed in XX/XX/XXXX. XXXX relayed this to me in XX/XX/XXXX. My loans were deferred from XX/XX/XXXX-XX/XX/XXXX while I was conducting training, though during this time the loans still accrued interest. My original loan amount was {$760000.00}, but as of XX/XX/XXXX, I owe {$91000.00}. I have made 47 payments totaling {$34000.00} since XX/XX/XXXX with a negligible impact to the principal loan balance. All of my 47 payments have been made while employed by an eligible PSLF employer. The attached employment verification forms cover all years where payments were made. My employers include the XXXX XXXX XXXX XXXX ( XXXX XXXX ), the XXXX XXXX XXXX, and the XXXX XXXX XXXX. All of these employers are eligible for my payments to qualify under the PSLF program. As you can see in the attached information, the amounts paid in the ineligible payments are roughly the same as the amounts paid in the eligible payments. All payments consistently range between $ 600-800. The Implementation of the PSLF program needs to be reformed to make it more student friendly, as Congress intended it to be. One way to accomplish this is to credit all payments as qualified PSLF payments that borrowers make while employed by an eligible employer. In this manner, the deceptive steering of borrowers into non-qualified payment plans can at least be attenuated, if not eliminated completely.
Company Response:
State: CO
Zip: 80220
Submitted Via: Web
Date Sent: 2019-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-22
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: This is my 3rd CFPB complaint. FedLoan Servicing continues to fail to properly account for my PSLF qualifying payments. I have sent countless requests since XXXX to have my loans manually counted, but I have yet to receive an accounting that makes logical sense. I make one payment every month that is supposed to be applied to the minimum balance on all my loans. If my payments were being applied consistently every month, all of my loans disbursed on XX/XX/XXXX would have the same number of qualifying payments ... but, they DO NOT! My most recent recount as reflected in the XX/XX/XXXX correspondence FedLoan sent me shows some XX/XX/XXXX loans having 62 payments, while some have 63 payments. In addition, loans that were disbursed just 2 months after the XX/XX/XXXX loans, on XX/XX/XXXX, have a 7 month discrepancy in payments between them. Furthermore, two loans disbursed on XX/XX/XXXX have different qualifying payment amounts as well. Based on my phone conversation with reps XXXX and XXXX on XX/XX/XXXX, I have been making qualifying payments on all my loans since XX/XX/XXXX. Total months from XXXX = 78 months. I had 3 late payments XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX which did not qualify, XXXX = XXXX. I also have 8 months of forbearance/deferment, XXXX, XXXX and XXXX. XXXX XXXX. Based upon my calculations, my qualifying payments should reflect as follows : Loans disbursed XX/XX/XXXX = XXXX qualifying payments " QP '', Loans disbursed XX/XX/XXXX = XXXX QP, Loans disbursed XX/XX/XXXX = XXXX QP, Loans disbursed XX/XX/XXXX = XXXX QP.
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-10-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-21
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XX/XX/XXXX I consolidated my student loans valued at {$29000.00} with MyFedLoans for the purpose of being able to use the PLSF forgivness available to XXXX. I called in XX/XX/XXXXto my lender at the time about the program. I spoke to them multiple times. They always said, keep making payments, you are 'all good '. In XX/XX/XXXX I figured out that 'it was not all good ' and that NONE of the payments I was making would 'count ' toward the 120 payments needed for forgiveness. I was told by MyFedLoans that I was lied to by my previous lender, and that I would have to give up my low interest rate, consolidate with them, get a higher interest rate and continue making payments on a qualified plan. I was making payments around the {$250.00} range, my payment went down to {$210.00} with MyFedLoans. Even though my old payments were higher, they did not count as part of my 120 payments under PLSF because they were not to MyFedLoans. I have now paid since XX/XX/XXXXand I owe more now than I owed when I first consolidated with you. I chose to leave XXXX because I can not handle the mental stress. Even though I XXXX 10 years and made 12 years of payments, because I was lied to, misled, and mismanaged, I will never be able to get forgiveness under this program. My current number of qualifying payments are gone from my dashboard on MyFedLoans. My qualifying years of service forms from my employer were rejected many times with me having to submit multiple times? Myfedloans said the 'dates looked altered ' 'signature looked altered '. I had to have my XXXX fill them out multiple times every year and they are still not on the dashboard!
Company Response:
State: OR
Zip: 97502
Submitted Via: Web
Date Sent: 2019-10-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A