Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: In the attempt to correct payments, I have received letters that state incorrect numbers about how many payments qualify towards loan forgiveness.
Company Response:
State: NY
Zip: 11206
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: I am trying to get a mortgage and my Federal Student loans are still showing on Fedloans and Studentaid.gov as owing. However on XX/XX/2022 Fedloans sent me a letter showing that I have qualified for the complete Public Service loan forgiveness. It's been over half a month and nothing is changed. On top of this my credit report is showing I have a over {$500.00} payment due to Fedloans. Which is not true..
Company Response:
State: AZ
Zip: 85233
Submitted Via: Web
Date Sent: 2022-04-27
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Trouble with how payments are being handled
Consumer Complaint: I received a qualifying payment letter on XX/XX/XXXX from FedLoan Servicing ( Account Number : XXXX XXXX XXXX ) that says they have evaluated my payment counts under the Waiver for PSLF when they clearly have not. Here is a quote from the letter and I will attach a copy : " Good to Know! The charts above display the total number of eligible and qualifying payments you have made ( out of the required 120 ) on your eligible loans for PSLF and TEPSLF, including any periods we have assessed as eligible or qualifying under the Limited PSLF Waiver '' I know the waiver has NOT been applied because I have at least 180 payments on loans from XXXX and at least 132 from loans dated back to XXXX. I do understand that the program began in XXXX.
Company Response:
State: NJ
Zip: 08055
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I applied for XXXX in XXXX. Yesterday I finally received a count of qualifying payments, and it is only XXXX of XXXX. By my count I have nearly XXXX payments that should qualify. I don't know how they could get it so wrong. There are entire years they are not counting. The letter mentions the waiver at the top, but the entire rest of it is full of pre-waiver information and processes. Anyone reading it without knowing extremely detailed information about the waiver from their own research would read the letter and think that is the end of the road. The only option on the letter is to call if you disagree. I waited on hold XXXX hrs last night, they finally answered and said they have nothing to do with the waiver, all of that is handled by XXXX. of XXXX. They said they are not allowed to talk about the waiver terms nor mention it in their letters as it has nothing to do with their company. They stated that " they have heard '' that there is supposedly a XXXX review coming for those that have XXXX qualifying payments by XXXX of XXXX XXXX " at some point before XXXX ''. Their letter does not say anything about a XXXX review, it was all verbal. And, they have undercounted my payments to XXXX XXXX that I don't have XXXX per their count, so I won't even qualify for the XXXX review by XXXX. of XXXX, if there even is XXXX! I knew the process was broken, I had no idea it was this broken. I attempted to file a complaint, but could not get any confirmation number or ticket number for the complaint, even after going to a supervisor. They agreed to send me a letter documenting my concerns, but when they sent the letter it is boilerplate text that does not address me at all, and restates the same wrong counts. I need help getting them to tell me the truth, state the process clearly, count my payments correctly, and pass my file on for the XXXX review they say I am not eligible for because they have miscounted my payments. I thought everyone was eligible, isn't that the whole point of the waiver? What is the point of submitting through FedLoan if they are not going to follow the terms of the waiver anyway? Why not just submit directly to XXXX XXXX XXXX for review? FedLoan should be forced to update their letters to reflect current realities of the XXXX waiver. Their letters and website are extremely misleading and send the message to everyone that the waiver never happened. Also, the only option to contact them is by phone. The agent complained to me they are getting XXXX calls per hour. Well, if their letters were more informative and accurate, so many people would not need to call! And, they have turned off the chat function on their website, and don't respond to emails, I have sent them XXXX in XXXX weeks with no answer.
Company Response:
State: IA
Zip: 52803
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have Direct Consolidated loans serviced by FedLoans that are eligible for PSLF forgiveness under the PSLF waiver. FedLoan continues to send emails with misinformation about the waiver. It continues to claim that it is assessing payment counts for the *PSLF waiver. '' On XX/XX/22, I received a letter from FedLoans about an update on my PSLF payment counts with the phrase : " The charts above display the total number of eligible and qualifying payments you have made ( out of the required 120 ) on your eligible loans for PSLF and TEPSLF, including any periods we have assessed as eligible or qualifying under the Limited PSLF Waiver. '' FedLoan does not assess payments for the Waiver. Only the DOE does that. However, by continuing to claim that it does so and informing borrowers of this false claim in letters, FedLoan is causing a panic among borrowers. These borrowers in turn flood FedLoan phone lines and email boxes asking for clarification. This, in turn, causes delays for everyone, including those with legitimate questions. It also causes more complaints for the CFPB. Which is why you are stuck reading this complaint.
Company Response:
State: NC
Zip: 28405
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I XXXX from a four-year program at XXXX in XXXX. My student loan debt total was {$26000.00}. My loan has been managed by AES. It's been difficult repaying the loan, but we have never defaulted. As my wife also had a small balance left on her student loans, we were advised by AES advisors to do a Spousal Consolidation of our loans ( a program offered by AES at that time ), which we did in XXXX. In XXXX, the Spousal Consolidation loan program was abandoned as a bad idea - no new Spousal Consolidation Loans would be granted, but those of us with Spousal Consolidation Loans would remain status quo- with our Spousal Consolidation loans intact as such. I began full-time employment at XXXX in XXXX. Around XXXX, a coworker told me about the Public Service Loan Forgiveness program. Under the PSLF, student loans would be forgiven after 10 years employment in public service, and we were thrilled to discover that my work at XXXX would qualify as Public Service. Indeed, I served XXXX XXXX XXXX XXXX wholeheartedly for 13 years. The work at XXXX was long and hard - pretty much XXXX with no time off and was indeed service related. I resigned in XXXX after 13 years of service. My wife and I began looking into PSLF in around XXXX. Our AES Advisors informed us that Spousal Consolidation precluded us from PSLF! We were not informed about this at the time of our Spousal Consolidation. Recently, President Biden 's initiatives have provided an avenue for all public service workers to benefit from PSLF by granting the ability to un-consolidate and refi their student loans into the Direct Loans Program. AES has restricted Spousal Consolidation Loans from this refi into the Direct Loan Program. Clearly, they are disregarding the intent of the PSLF Program and are using any means they can invent to retain as much loan repayment income as possible. Indeed, while my original loan balance was {$26000.00}, my total balance is now $ XXXX - while, because of interest, I have repaid {$100000.00} to date. At this rate, I will never be able to satisfy this debt and will pay on it for the rest of my life. I thought the US backed Student Loan Programs were intended to educate us. In actual fact, these programs are a way for AES and other government finance agencies to earn income from American Citizens. We were told by an AES Advisor that when the Spousal Consolidation Loan Program ended, all individual loan records were destroyed prior to Spousal Consolidation, thereby eliminating any reference information by which the loans could be un-consolidated. A few weeks later, we were told by a different AES Advisor that this was not true, that the Advisor who gave us this info didn't know what they were talking about, and directed us to a page within the AES website which documented all of our loan information from the very beginning of our loans.
Company Response:
State: PA
Zip: 164XX
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Fedloans has not updated my payment counts toward XXXX despite me receiving an email that my payment counts are expected to go up. Further, they sent a letter that warned against consolidation of my loans saying my payment counts would start over when in fact a waiver law went into effect XXXX that says we must consolidate to get highest payment counts. They are sending false information so that I miss out on being eligible for forgiveness.
Company Response:
State: TX
Zip: 78239
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-10
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I have been on the IDR repayment plan for my student loans since XX/XX/XXXX. My payment has been based on my income which has made my payment amount {$0.00} up until XX/XX/XXXX, when my payment started to be {$23.00}. I was making ontime payments up until COVID pause was put into place. In XX/XX/XXXX I submitted PSLF application for the time of XX/XX/XXXX when I started working at a school. My application was accepted in XX/XX/XXXX and I recieved credit only for the time of having to make a payment above {$0.00}. I have requested a recount and have still only recieved credit for 36 payment. I should have 103 qualifying payment as {$0.00} payments are supposed to count.
Company Response:
State: OR
Zip: 97504
Submitted Via: Web
Date Sent: 2022-03-10
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: MY FEDERAL STUDENT LOANS WERE FORGIVEN IN XXXX OF 2022. THEY ARE STILL CURRENTLY REPORTING ON MY TRADELINES AS BEING OPEN AND UNPAID. I AM REQUESTING HELP THAT FEDLOAN SERVICING REPORT MY BALANCES AS PAID IN FULL AS THEY ARE NO REPORTING ACCURATELY.
Company Response:
State: OH
Zip: 43607
Submitted Via: Web
Date Sent: 2022-03-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-03-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I have filed a dispute regarding the incorrect items on my credit report as it is a direct violation of U.S. Code Title 15. Section 1681a ( 15 U.S.C. 1681a ). The following late/missed payments are incorrect FEDLOAN Account Number : XXXX XXXX 4 missed/late ( XXXX, XXXX ) XXXX 4 missed/late ( XXXX, XXXX ) XXXX 8 missed/late ( XXXX, XXXX ) Please remove. 15 U.S. Code 1681a - Definitions ; rules of construction ( a ) Definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter. ( b ) The term person means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. ( c ) The term consumer means an individual. ( d ) CONSUMER REPORT. ( 1 ) IN GENERAL.The term consumer report means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumers credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or in part for the purpose of serving as a factor in establishing the consumers eligibility for ( A ) credit or insurance to be used primarily for personal, family, or household purposes ; ( B ) employment purposes ; or ( C ) any other purpose authorized under section 1681b of this title. ( 2 ) EXCLUSIONS.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report ;
Company Response:
State: NY
Zip: 109XX
Submitted Via: Web
Date Sent: 2022-03-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A