Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: i re-certified for the Public Loan Forgiveness Program through FedLoan Servicing this XXXX. It is recommended that applicants do this each year, so that when the 120 payments/10 years is completed, it will be easier for loan forgiveness to go through. On XX/XX/XXXX, I received a letter from fedloan title " Response to the Employment Certification Form You Submitted for the Public Service Loan Forgiveness Program. '' The letter stated that " [ i ] n the next few weeks, we will calculate and provide you with notification of : the number of qualifying payments you have made during the employment period listed above ; the total number of qualifying payments you have made during all periods of qualifying employment approved to date ; the estimated number of payments that are still required, and the date you are expected to be eligible to apply for forgiveness. I NEVER received this notification from fedloan. The letter continued : " After we calculate the number of qualifying payments you have made, keeping track of your progression toward PSLF is easy. Log into Account Access. Check Your Monthly Bill. Review the communication that we send you each time you submit a new Employment Certification Form. '' As I never received the notification of number of qualifying payments mentioned above, I reviewed the next month 's statement. The qualifying payments seemed off. I downloaded the XXXX spreadsheet showing each qualifying payment. I wrote message to fedloan stating that I should have 56 qualifying payments, not 31 on XX/XX/XXXX. " XXXX '' from fedloan stated " We apologize for not yet being able to provide you with the number of qualifying payments made toward Public Service Loan Forgiveness ( PSLF ). Since each account must go through a detailed review process, providing you with these details can sometimes take a great deal of time. '' I responded to the email message on XX/XX/XXXX requesting the status of my qualifying payment inquiry. I was notified on XX/XX/XXXX by email from " XXXX '' that " The payment review is currently already in process to review the payments that are marked as not qualifying. Unfortunately, there is not a current estimated time of completion for the review. We'll contact you after we complete our review. '' That was the last contact I had from fedloan. I followed up with an email on XX/XX/XXXX requesting the status of the inquiry and no one responded. My qualifying payments on each statement now says 48 and does not increase each month. Today, I have made 57 qualifying payments towards PSLF, and each month my statement says 48. Today, I downloaded my XXXX spreadsheet of payments. I do this every month. My principal balance of my loan has now increased by {$230000.00} for no reason- no additional loans have been taken out, no compound interest, etc. There is no explanation for 1. why my balance has increased by several XXXX XXXX dollars 2. why it has taken months for fedloan to calculate my qualifying payments 3. why fedloan never contacted me, as stated in their XX/XX/XXXX letter, with the number of qualifying payments made and my estimated forgiveness date.
Company Response:
State: CA
Zip: 92101
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I've been on the PSLF program since graduating from XXXX school in XXXX. At that time, Fed Loan Servicing took over my accounts and I've been making monthly payments ever since ( while employed at the XXXX XXXX XXXX and the XXXX XXXX XXXX XXXX ). Fed Loan Servicing has recently made several mistakes in handling payments on my account which has required me to make no fewer than 15 calls to get straight answers and get my issue resolved. Several months ago, Fed Loan Servicing agents promised to conduct a review of my XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX payments to ensure they are " qualifying '' payments. Most recently, I've tried to get answers about the status of the review ( which has been going on for months ), but I've been told that Fed Loan can not provide me with any information or even an estimated time frame when they can complete the review. As I close in on 10 years of payments, this is very distressing. This is also extremely frustrating and not the only time I have had serious issues in getting answers from them. In some cases over the past couple months, I've had agents provide incorrect information. ( For example, when the company involuntarily placed my account on " forbearance, '' they stated that it would not affect my credit score ; it did and I had to file a CFPB complaint just to get the issue resolved ). What I want is for the company to complete its review of the XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX payments, to confirm that each of the payments have been applied to PSLF, and a final accounting of all the qualifying payments I've made over the last 9 years, because I am getting concerned that, based on past experience, the company can not be trusted to get the information correct or to do the right thing.
Company Response:
State: DC
Zip: 20009
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Need information about your loan balance or loan terms
Consumer Complaint: I am currently enlisted in the PSLF/IBR program. Because the loan has been transferred among different federal providers they will not give me an accurate amount of payments received by them towards my repayment. Each call I give to company tells me they are months behind and no timeline for actual accurate count of months I have paid. Without telling me if I am still enrolled in the program I am unfairly paying higher interest rates with federal program instead of switching to a private lender. They are charging me interest for the loan however not responding to questions I need to make a fair decision.
Company Response:
State: NY
Zip: 10016
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Hello! I have a direct unsubsidized consolidated loan through US DEPT OF ED. I am eligible for PSLF and have submitted my ECFs on time every year. I should have 30 qualified payments but Fedloan has only 15 counted. I called them on XX/XX/XXXX and was told my account was under review. I called again XX/XX/XXXX and nothing had been changed. I called again today, XX/XX/XXXX and they have not updated my count and have no timeline to do so. I would like to qualified payments updated since I have done my job by submitting my employer information each year. Thank you!
Company Response:
State: OK
Zip: 74135
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: This is a long story, but here it goes. When I first received a call from fed loan servicing the gentleman that called ( XXXX XXXX ) got me set up on what he referred to as the 25 year plan. What he explained was that as long as I made my payments for 25 years straight my debt would be forgiven. He set me up with a lower payment based on my income, family size, wifes incomes, wifes student loans. About 3 months in fed loan contacted me and said my payment was going to triple because the poverty level went up and I received a raise at work. What? Triple?! That seems excessive since my raise was a 6 % raise but payment will go up 300 % ... Then when I tried to contact XXXX XXXX of course he no longer works there. Fast forward three years and theyve double my payment every years since inception. Now its to the point I can not afford it. When I ask if I can see the numbers theyre using with the formula theyre using they say they can not share that information with me. I recertified in XX/XX/XXXX. Im starting the process for my next years recertification and again theyre saying its going to double. Neither mine or my wifes income has changed in two years!!! Again when I ask to see the numbers to justify this increase they claim they can not share that info. They wont even mail it to me! Pearly the whole company is very unethical. When I asked what I can do if I cant afford the payments they say tough deal with. Like that magically gives me more money to pay them. Something has to be done about this business. Can someone please help me recover the actual numbers the used with the formula to determine my payment, because something is not right here ...
Company Response:
State: MI
Zip: 48183
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-22
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I continue to be denied Public Service Loan Forgiveness by MyFedLoan. I cant get a clear answer, but when I recently reapplied I was denied again. I called and was told it was due to {$10.00} discrepancy they found from years ago, but can not provide proof. I should wholeheartedly qualify. Please help. I worked in public service XX/XX/XXXX to XX/XX/XXXX
Company Response:
State: TX
Zip: 78702
Submitted Via: Web
Date Sent: 2019-07-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: On XX/XX/XXXX I checked my credit reports and my report showed that my Fed loan accounts " Needs Attention '' Upon checking the status the account read that I recently missed a payment on this account. However no delinquency existed. I am asking for a investigation, this account is in deferred status and no payments are required.
Company Response:
State: CT
Zip: XXXXX
Submitted Via: Web
Date Sent: 2019-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-21
Issue: False statements or representation
Subissue: Attempted to collect wrong amount
Consumer Complaint: I have recently applied and have been approved for a debt consolidation through my student loan lender, FedLoan Servicing as I was having difficulties making the minimum monthly payment of approximately {$500.00}, and had determined that the consolidation would reduce my total monthly payment. The initial call I had made to FedLoan Servicing for help with my monthly payments was on or around XX/XX/2019, at which time the gentleman I spoke with said my past due debt with FedLoan Servicing, which was only 30 days past due and totaled about {$700.00} at that time, would be put into an emergency forbearance while the application was being processed and no further payments would be required until the application review was complete. Please note that the balance owned was considered past due despite my good faith efforts to make payments in XXXX and XXXX for {$100.00} and {$400.00}, respectively, which was as much as I can afford, albeit not the {$500.00} they were looking for. However, I had to call FedLoan Servicing back 4 additional times between the initial call on XX/XX/XXXX through early XXXX as I continued to receive collection notices for the outstanding balance. Each time I spoke with a rep they apologized and stated that the outstanding amounts should have been placed into forbearance but for some reason ( that they couldn't ever explain ), that was effective XX/XX/2019. Each time they would 'correct ' the issue to retroact back to my initial call in XXXX, and within a week I would receive another notice looking for payment and go through the whole process again. The consolidation was finally approved on XX/XX/2019. However, all of the individual student loans which are included in the consolidation were erroneously adversely reported to the credit reporting agencies by FedLoan Servicing as 'adverse accounts '. Each of these loan payments have been included in my consolidation, which is current. I have included an overview of my account with FedLoan Servicing for you to review. I need to have the erroneous multiple adverse entries for FedLoan Servicing removed from my credit report as this information is not correct. How can these be considered adverse if they are showing as 'paid in full ' and part of the consolidation per my FedLoan Servicing account overview? This 'error ' has caused my credit score to drop dramatically and I need to have this corrected as soon as possible.
Company Response:
State: CT
Zip: 060XX
Submitted Via: Web
Date Sent: 2019-07-21
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-21
Issue: Credit monitoring or identity theft protection services
Subissue: Billing dispute for services
Consumer Complaint: My student loans are being repaid based on income and my payments are {$0.00}. It has been this way for the last three months, however my credit score dropped close to 100 points stating that a payment was missed which is inaccurate. I contacted Fed loans and they sent me a link to file a complaint here to have it corrected. I am currently homeless in a shelter and in order to get housing they look at my credit score. I need this corrected as its not only me depending on my housing application being approved I have XXXX children under the age of XXXX years old.
Company Response:
State: NY
Zip: 11225
Submitted Via: Web
Date Sent: 2019-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2019-07-21
Issue: Struggling to repay your loan
Subissue: Problem lowering your monthly payments
Consumer Complaint: XXXX College XXXX XXXX XXXX XXXX XXXX misled me promising me employment opportunities and Lifetime refresher courses with a brighter future and the only thing I truly recieved was a useless degree that no one take serious in this city based off the schools reputation that continued to spiral from XX/XX/XXXX-XX/XX/XXXX. Tentative dates..And debt an extreme amount of debt. Not once was I sent on a job interview or even prepped for job placement which was promised upon graduation. They gave us statistics rates and promised a future that if we ever need to go back and revisit accounting or revisit a business course we would always have an open door policy that was not honored either. I started realizing the $ 300- {$500.00} per book only a few words changed. The knowledge recieved was not anything more then I already knew I managed my whole life. They made me believe adding a degree to my life would make me be more marketable. I had a XXXX GPA after looking at my credit report and seeing what this school was doing to me I dropped out. I finally realized that it was a scam all of the student 's were coming to the same conclusion. The material was high school level, I'm at a lack the Lifetime courses I need those the only thing on my credit report is school and my car I am XXXX in debt I have no moral this has ruined me. I use to believe In College before XXXX college XXXX XXXX XXXX XXXX XXXX. Now I don't push my children at all towards it. It's not fair they got off without helping us. If it was a creditable degree I wouldn't be complaining. But Any time mention what school I received my XXXX degree from there is same on my part, and its not taking serious by the reciever of the information. Anyone I have told responds negative in this city like the University XXXX XXXX Scandal. I need help they need to honor relief this is just so intense. Greed caused this they milked us through books through everything.
Company Response:
State: KY
Zip: 40216
Submitted Via: Web
Date Sent: 2019-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A