Date Received: 2019-10-17
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I attempted to refinance 4 out 8 of of my highest interest rate loans with My Fedloan on XX/XX/2019. After noticing that the refinance payments had been incorrectly applied to the wrong loans, I called a first time on XX/XX/2019 to have this corrected. The first customer service representative told me that the payments would be reapplied correctly in 1-2 weeks and recommended that I continue to make my regular payments. After checking back, the refinance payments were never reapplied so I called for a second time on XX/XX/2019. I spoke with a RUDE and condescending customer service rep who spoke over me, did not listen to my issue, and told me repeatedly it was my own fault that the loan refinance payments were reapplied incorrectly. I was then told that the entire refinance amount would need to be mailed back in check form to me- directly. At this time I asked to speak with upper management and was redirected to another associate. The next woman assured me that the refinance amount would, in fact, NOT be sent back to me in check form and the payments would be corrected in 3-5 business days. Throughout this process I have been making regular payments on all loans ( including the loans that should've been paid off ). I was assured by XXXX, that there would be an excess of payment after the refinance payments were corrected and that this would be redistributed to my account in order to avoid delinquency. It is now XX/XX/2019 and my account is '28 days delinquent '. While the refinance payments have been corrected, the over payment is not being applied to current loans. I have called XXXX XXXX numerous times with no response, and the customer service representatives at MyFedLoan have told me that the over payments are being refunded in check form instead of being applied back to the account. I'm extremely disgusted to experience my student loan debt be handled by such a disorganized and inept service provider. A word of advice for those looking to fund necessary education for their future- avoid myfedloan.org at all cost.
Company Response:
State: PA
Zip: 152XX
Submitted Via: Web
Date Sent: 2019-10-17
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-17
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: Applied to change from IBR/IDR to fixed payment in XX/XX/2019. Application was accepted in XXXX, and was not fully processed until XX/XX/2019. The processing is to take 90 days or less. Mine took six months to process and my credit report shows missed payments for XXXX, XXXX, and XX/XX/2019. When I did in fact pay all payments that were due and an additional payment that was not required. The reported missing payments took my credit score from a XXXX to XXXX. I have contacted fed loan on three separate occasions to get assistance with errors in credit reporting. The most recent time I was told to fill out a credit dispute form because my application should have been processed by the end of XXXX. Instead it took three more months. This resulted in fed loan reporting that I made no payment and was not deferred because the application was processing. Credit reporting agencies took that as 3 missed payments on 6 loans. Its being reported that I 18 missed loan payments when I did not miss any payments. Fed Loan was processing my application. I have no control over how long fed loan and their employees take to process applications. I got caught up in their inefficient and slow processing. I am being penalized for the delayed processing of fed loan. Are they not accountable for reasonable processing times, and correctly reporting to credit agencies while processing? I would like for fed loan to accurately report the standing of my loans for 2019. I used to pay {$0.00} per month, now I pay {$420.00} per month. All I wanted to do was get on track to pay off my loans. Fed loan took six months to update my payment costing my credit score 63 points.
Company Response:
State: CA
Zip: 93105
Submitted Via: Web
Date Sent: 2019-10-17
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-16
Issue: Dealing with your lender or servicer
Subissue: Keep getting calls about your loan
Consumer Complaint: I have been with 4 different companies. Have paid them thousands of dollars up front and my loan amount is still the same. I have been out of school for over 10 years and have paid more in interest than my actual student loan amount.
Company Response:
State: TN
Zip: 38002
Submitted Via: Web
Date Sent: 2019-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-17
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I originally received several student loans when I attended college/university over 10 years ago. The loans were eventually consolidated over to Fedloan Servicing and placed in Forbearance, due to my inability to repay the loans because I was unemployed for years. As of XX/XX/XXXX, I was not required to make any payments due to the forbearance. Unbeknown to me, on XX/XX/XXXX my loans were taken out of forbearance and repayment was to begin, however I was NEVER notified by Fedloan. I did not receive any repayment notices via USPS mail/email nor phone call. I was unaware that any payments were due or that the forbearance was over because Fedloan failed to properly notify me. My address/email and phone number are correct on my credit file and I should have been properly notified that a payment was due so that I could remedy the situation. Fedloan began reporting late payments to all credit bureaus in XX/XX/XXXX and continued to due so through XX/XX/XXXX. Because the loan is divided into ( 7 ) individual loans, I have over 40 erroneous late payments now displayed on my credit report. I only discovered that the forbearance was terminated after I pulled my credit report in XXXX of XXXX and saw these late payments. I immediately called Fedloan and spoke to customer service about the issue. I explained to the representative that I was unaware that my forbearance was over and that I never received any notices from them for 6 months. I told them they had a duty to notify me and that due to financial hardship I still would not be able to make any payments. So they told me to apply for the {$0.00} payment Income Driven Repayment plan. After applying for the income driven repayment plan, it was determined by Fedloan that I qualify for $ XXXX monthly payments. Which is fine, however I have written Fedloan several letters and placed several phone calls to Fedloan demanding that they delete the late payments, as they failed to notify me of the forbearance ending. As a service provider, they have the duty to properly notify the consumer of payments due, and the intent to report alleged " late payments '' to the bureaus. Furthermore, the alleged " late payments '' were not indeed " late '' because I have not been employed for over 2 years and I qualified for {$0.00} repayment as of XX/XX/XXXX ( the end of my forbearance ). Had Fedloan properly notified me back on XX/XX/XXXX, I could have applied for the Income Driven Repayment plan back then, I would have been approved for $ XXXX monthly payments because obviously my financial status has not changed in almost 3 years, and I would have never endured the hardship of having these late payments affect my credit. The erroneous late payments being reported by Fedloan are causing extreme hardship and is affecting my ability to obtain lines of credit. I am a mother, and currently unemployed and these late payments that have illegally been reported to the credit bureaus need to be removed due to Fedloan 's negligence to properly notify me that my forbearance was over and payments were due.
Company Response:
State: FL
Zip: 33331
Submitted Via: Web
Date Sent: 2019-10-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-16
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: Student loans went into default without knowledge of forbearance expiring. Status was cleared as an agreement to make payments for 3 months consecutively. This was completed. I requested to have all negative payment history removed as a results of all balances being cleared and paid through consolidation and they have refused even though accounts are in good standing. The negative history is affecting and preventing me from having a normal livelihood such has finding employment, getting additional school funding and finding a place to live. I've have difficulty doing all these things without the negative history removal.
Company Response:
State: GA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-16
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I am filing a complaint against FedLoan Servicing and their administration of the Public Service Loan Forgiveness Program. I am a XXXX and I have student loans. I work for a not for profit employer and I have since XXXX. I qualify for Public Service Loan Forgiveness ( PSLF ) based on my employer and my job. I began making qualifying payments in XX/XX/XXXX. In XXXX XXXX XXXX I realized that there had been an error made, as I had two separate dates for my loans to qualify for PSLF- XX/XX/XXXX and XX/XX/XXXX. I called FedLoan Servicing where they stated they would start an investigation into the issues. They could not give me a resolution date for the investigation. My loans were originally with XXXX, but had to be switched over to FedLoan servicing when I applied for PSLF initially, as FedLoan Servicing is the only loan administrator that does PSLF. FedLoan Servicing claims that I did not make a full payment in XX/XX/XXXX and again in XX/XX/XXXX. This is simply not true. My payments have been on auto draft since I began making them, so unless they auto-drafted an incorrect amount this isn't possible. I am working to reach XXXX to clarify this issue. I have been calling periodically since XXXX XXXX XXXX and there is yet to be a resolution, and it is now XX/XX/XXXX, nor can they provide me with a date to expect a resolution. They will not allow me to speak with anyone in the investigative department. I spent an hour and twenty-one minutes on the phone with a representative name " XXXX '' ID number XXXX, and then her supervisor " XXXX '' ID XXXX. Neither of them were able to resolve the issue or give me a time frame. A simple investigation of auto-drafted payments, with no change in qualifying employers should not take more than a year to complete with no end in sight. I stated this to XXXX who told me that " We simply don't have the resources to answer your questions today. We are the only loan company who deals with PSLF. '' This is a horrendous waste of tax dollars and is disrespectful to the individuals who work hard to provide public services for the betterment of our country.
Company Response:
State: MO
Zip: 657XX
Submitted Via: Web
Date Sent: 2019-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-16
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: In XX/XX/XXXX when submitting my Employment Certification to verify my eligible employment status for PSLF for the year XX/XX/XXXX-XX/XX/XXXX, it was denied because my account was apparently in " paid ahead '' status, which rendered the payments I did make in that year ineligible for PSLF. This was not an error on my end, this was an error on MyFedLoan 's end, verified by their employee when looking at my account. I was told that they fixed the paid ahead status on their end, but that I would need to have my previous years payments put under audit, to get that year approved. That was XX/XX/XXXX, and I have yet to have this audit processed. I have called MyFedLoan on XX/XX/XXXX ( spoke with EID XXXX ), XX/XX/XXXX ( spoke with EID XXXX ), XX/XX/XXXX ( spoke with EID XXXX ), and XX/XX/XXXX ( spoke with EID XXXX ), and no further updates are able to be provided, other than it has still yet to be processed. When I ask how long in their experience I can expect this to take, I get estimates from 12 months to 5 years.
Company Response:
State: NC
Zip: 27614
Submitted Via: Web
Date Sent: 2019-10-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-15
Issue: Dealing with your lender or servicer
Subissue: Don't agree with the fees charged
Consumer Complaint: FedLoan servicing is in violation of 34 CFR 685.209 with how they have set the payment on the on my student loans ( I am on the Pay-As-You-Earn [ PAYE ] plan ). Per 34 CFR 685.209 ( a ) ( 4 ) ( A ) The maximum monthly amount that the Secretary requires the borrower to repay is the amount the borrower would have paid under the standard repayment plan based on a 10-year repayment period using the amount of the borrower 's eligible loans that was outstanding at the time the borrower began repayment on the loans under the Pay As You Earn repayment plan In XXXX of XXXX I received correspondence from Fedloan to recertify my income based plan or my payment would go to the standard payment of {$390.00} ( At the time my payment was around XXXX ). I did get a substantial raise since the last recertification, but did not know how much it would raise my payment. I filled out the re-certification form and choose to give Fedloan access to my tax info from IRS.gov and chose the option to have them review and pick the plan that was most advantageous to me. On XX/XX/XXXX I received correspondence from Fedloan that I would be remaining on the PAYE plan ; however, that my payment amount had increased to {$410.00}. I immediately called them and told them that this amount was higher than the standard repayment plan. I was then told that if I went on the standard plan that my payment would be {$410.00} ( they calculated as if I was put on the standard plan effective that day and not what the payment would be effective the date repayment began as the regulations require ). In XXXX of XXXX I found info on the studentaid.ed.gov that stated the payment amount for the PAYE plan was Generally 10 percent of your discretionary income, but never more than the 10-year Standard Repayment Plan amount. I called Fedloan and tried explaining this, the lady did not quite understand but said due to the misinformation I was given regarding the standard plan in XXXX that she would put in a ticket to try to get the overage refunded to me. On XX/XX/XXXX Fedloan informed me that the request was denied, would not give me any information as to why, and would not let me speak with the department that made the determination. Additionally, one of the representatives provided me with more misinformation ( she told me that the standard plan does not qualify for Public Service Loan Forgiveness, that is most certainly not true ). I am demanding of Fedloan that my payments for the past year be retroactively calculated to be in conformance with 34 CFR 685.209 and that the amount that I have overpaid be refunded expeditiously. Seeing that my payment amount for the past year has been more than the maximum allowed by regulation, and that Fedloan has not fixed the error despite multiple attempts on my end, I believe that there are probably others facing the same situation. For this reason this complaint is going to, the CFPB, the House Education Committee, the House Financial Services Committee, the House Oversight Committee, Congressman XXXX XXXX, XXXX, and XXXX. ( I have tried to send a copy to Fedloan, but their website will not allow me to send the email as it says there is an invalid character, but does not tell me what character is invalid. ) Thank you,
Company Response:
State: OH
Zip: 440XX
Submitted Via: Web
Date Sent: 2019-10-15
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-15
Issue: Problem when making payments
Subissue: You never received your bill or did not know a payment was due
Consumer Complaint: I was shocked when I reviewed my credit report and found 90 days late payment on the dates XX/XX/2019. I am not sure how this happened, I believe that I had made my payments to you when I received my statements. My only thought is that my monthly statement did not get to me.
Company Response:
State: FL
Zip: 323XX
Submitted Via: Web
Date Sent: 2019-10-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-10-15
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: Current student loan amount ( estimated ) {$200000.00} Original principle balance ( estimated ) {$89000.00}
Company Response:
State: NY
Zip: 12065
Submitted Via: Web
Date Sent: 2019-10-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A