Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: Was put on hold for 4 hours. Left my number so they could call me back... no return call.
Company Response:
State: NY
Zip: 140XX
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: Student loan PSLF forgiveness applications are handled only by FedLoan. I mailed in a completed PSLF application via USPS mail in XX/XX/2022, and as yet I have never received any confirmation that it was received at all. I have tried multiple times to contact FedLoan to request receipt confirmation or instructions, and have been unable to get any answer. FedLoan will not allow me to create an online account with them because my loans are serviced by XXXX and not by FEDLOAN. FEDLOAN must process the PSLF application, so the loans are supposed to be switched to FEDLOAN on their receipt of the PSLF application. Today I waited 20 minutes on hold to talk to a FEDLOAN service representative about creating a FEDLOAN account, but he immediately told me he had no info and that I couldn't create an account until making FEDLOAN my servicer. When I asked for basic confirmation as to whether FEDLOAN has received my PSLF application, the rep told me that he'd have to transfer me to a different department for that information. I waited on hold another 20 minutes, then hung up because I'm at work. The PSLF application process is involved and time-sensitive. I have now wasted nearly three months waiting for any response for FEDLOAN, and I have now received an entirely unacceptable level of customer service in trying to contact them for information.
Company Response:
State: CA
Zip: 94114
Submitted Via: Web
Date Sent: 2022-05-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: FedLoan Servicing has not credited me payments towards the XXXX program. They just increased, for no good reason, the number of payments I need to make before I can submit my XXXX application. My employment has not changed in the past year, but they dropped my qualifying payments. They are now saying that I need to make additional payments.
Company Response:
State: NY
Zip: 14051
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I disputed derogatory reporting on my credit reports by Federal Loan Servicing on XX/XX/XXXX. My dispute shows proof that I was never XXXX, XXXX or 180 days late on my student loans from XXXX. During that time, I was a graduate student at University of XXXX. I also had a One-year Hardship Agreement starting on XX/XX/XXXX because I was taking care of my father who was on the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I have asked for proof of the original loan documents to help prove that I was charged interest during these times and that Federal Loan Servicing continued to show me late. In each loan, Federal Loan Servicing shows that I am " current '' and then the next month they show I am 90 days late, then 120 days late and they have a comment that I was 180 days late. This is not true and is hurting my credit report and ability to build credit and move forward in my life. I have no resolution in this matter, no documents from Federal Loan Servicing and no change on my credit reports which are now " updated '' with exactly the same information. I would like these loans deleted from my credit report until there is a resolution of the correct amounts and no derogatory reporting. Thank you for your help!
Company Response:
State: FL
Zip: 33461
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: As a incoming freshman at XXXX XXXX XXXX XXXX from XXXX to XXXX, when I apply for financial aid to get into college, My mom and I applied for the federal pell grant which I did qualify for, and it covered everything i needed for school, but when it was time to sign the paperwork to complete the process to receive the federal pell grant, it was said to me that I qualified for the federal loan as well. So coming from a low-income single family home, and to be told that I come receive {$6000.00} thousands dollars each semester for 4 years, I feel as though I was pressured into getting the federal loan, because it wasn't explained to me about the obligations that came with getting a federal loan, the only explanation that I received was, the amount of money I would receive in addition to the pell grant and that the loan money was extra money I could pocket. Now being a incoming freshman who needed money coming from a low-income single family home, yes I took it, who wouldn't. If I had known about the obligations of a federal loan, I wouldn't have considered about taken the loan, because coming from a low-class income single parent home, I knew my mom or me wouldn't been able to pay it back. Now I find it difficult to pay back the amount of money I owe on my loans and build my credit to lenders qualifications, because my student loans blocks me from getting money to build a future for my family. So i'm asking if I could get considered for the student forgiveness program
Company Response:
State: NC
Zip: 27909
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: I have three separate issues that I would like help with. I have done my best to summarize the issues below. Following the summary of the three issues, I have also included a full timeline of my loan including the context around the issues mentioned. Issues 1. - AES put my loan into some type of forbearance program and provided incorrect information about how this would affect my loan and payoff date. o In spring of XXXX, I called to ask some questions about the COVID payment and interest rate pause because I had had some financial setbacks due to a job loss and medical issues. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX that XXXX, but was still struggling to catch up financially. o I was told that the COVID payment pause would not be a good fit because my loans would still accrue interest. The AES rep recommended a program that would be better because it will lower the payments. I asked a lot of questions and was told that this would not change the due date, would not increase the amount due, and would not change the interest rate. o The following year, I noticed that the total amount of the loan was not decreasing. I located my payment records on the website and found that almost 100 % of the payments were going to interest only. o When I called AES, I was told that I was actually on a forbearance program. I dont think the rep in XXXX explained that. Even if I somehow misunderstood that part, she still did not answer some of the questions correctly. o The rep I spoke with in XXXX said there are documents on the website, but they were hard to find and apparently they do not stay on the site permanently. He emailed the information. The information shows that my payoff date has now been pushed out to XX/XX/XXXX. My loan amount has not gone down and I do not know if there will be other adverse ramification to my loan after being put on this program. 2. - The information AES reports to the NSLDS and XXXX about my student loan is incorrect. It shows I have two unsubsidized loans, but my larger loan is a subsidized loan. It also shows an interest rate of 4.88 % however my rate is 3.875 % and has been for close to 12 years. o I want to consolidate to direct federal loans and apply for PLSF temporary waiver that expires in XX/XX/XXXX since I have worked for an eligible non-profit since XX/XX/XXXX. o The incorrect information reported to the XXXX prevents me from consolidating my loans to direct federal loans and switching to a new servicer. The XXXX representatives I spoke with said that I needed to get AES to correct the information they are reporting before applying to consolidate my loans with another servicer. Although the new servicer may receive the correct information from the old servicer ( AES ), its possible they may not. If they consolidate using the wrong information, they said it will be almost impossible to get it corrected after the loan consolidation is finished. o The higher interest rate and compounded interest added to my principle would make my payments considerably higher, would significantly increase the amount I have left to pay, and would push my payment timeline well into the future. The consolidation process rounds the percentage rate up from the reported interest rate. o I also can not use the XXXX payment plan calculator tool to choose a payment plan ( as required for the consolidation application ) because the higher numbers skew the proposed payment amounts significantly higher. o I have been contacting AES since XX/XX/XXXX and was told on more than one occasion that this has been taken care of, that they have submitted the correct information to the NSLDS, and that I would see updated, correct information on the XXXX website in five to 10 business days. o They never corrected the information as promised. XXXX representatives recommended that I file a case with the Ombudsman about the incorrect information as well as the forbearance issue. o In XX/XX/XXXX I filed a case with the XXXX Ombudsman and uploaded supporting documentation. o The XXXX Ombudsman did not respond within the 10 business day timeframe. I finally received an email that just said that I would need to work with AES and that they have closed my case. The email was brief and only mentioned the interest rate issue and nothing about the forbearance or anything else. o I called the XXXX ombudsman and found out that the case had been sent to the AES ombudsman ( not AES ). They said that the AES ombudsman was required to respond via email within 10 business days. They said that if I did not receive a satisfactory response, I should call them back to appeal and reopen my case. o I did not receive any emails or communication from the AES ombudsman within the 10 business day timeframe. o On day 11, I received a vague voicemail from an unknown number that said This is AES and we are just calling to let you know that you can contact us anytime if you have a question about your loan. I was confused because the voicemail did not mention my case or if the caller was with the ombudsmans office. o Within 10 minutes, I called the number given on the voicemail only to discover it was the general AES customer service number. When got through the phone tree and the hold time, the customer service person was confused. He said that he could see that there was an outgoing call to my number, but there were no notes whatsoever in the system. He had no way to help or understand why someone had called me. He tried to track down the caller, but could not. I asked him if the call could have been from the ombudsmans office since a case had been sent to them. He put me on hold again and was then immediately able to track down the person who had called me. o He connected me to the person from the voicemail, but she seemed reluctant to provide any information or help. I had to ask twice if she was with the ombudsmans office and she finally admitted that she was. I learned that nothing had been done on my case. I explained my concerns about the incorrect interest rate reporting and the forbearance. She immediately said oh the interest rate was probably just a temporary incentive program. I explained that I had never heard the words temporary incentive program and that my loan had been at the 3.87 % fixed rate for well over the past decade. o She said there wasnt much she could do, but maybe send an email to check on it. I explained again that I wanted to look into the possibility of applying for the PLSF waiver, but that I couldnt consolidate and that I was running out of time. o She said that I did not need to worry about running out of time because I would be eligible to apply for the PLSF waiver as long as the consolidation process had been started. I explained that information was incorrect. You need to complete the loan consolidation process ( which can take months ) and then apply for the PLSF waiver before XX/XX/XXXX when it expires. She told me twice that was incorrect and that I did not need to worry about running out of time. I have since confirmed with the XXXX that her information was wrong. o I asked why they had not responded via email within 10 business days as required by the XXXX. She said that they had experienced technical difficulties and that her email was not working. I asked if they have a number and she did give me her phone number and extension ( it was a completely different number than the main customer service number she had left on my voicemail ). I asked if she could have them correct the loan reporting as they had promised and asked if she could email me back with an update. She said it would take time but that she would call the following week. o Within the next hour or so, I received an email that said : Good afternoon, I received a response regarding the interest rates on the National Student Loan Data System ( NSLDS ) website. NSLDS reflects the statutory interest rate and does not update due to rate reduction programs. In addition, the 4.88 % that is currently showing on NSLDS, is rounded to the hundredth place since the initial interest rate was 4.875 %. Because your current interest rate of 3.875 % is a result of an incentive program, when we receive the consolidation application the incentive would be lost and, the loan would be consolidated at the original rate of 4.875 %. Please let me know if you have any further questions. Thank you, XXXX XXXX AES Ombudsman Group o I do not know if this information is correct, but I do know that it is the opposite of what I had been told by AES on more than one occasion. Since the other information she gave me about PLSF was incorrect, I do not feel confident in the validity of the answer. o Furthermore, even if they refuse to allow me to keep the 3.875 % fixed interest rate, I still do not understand how they can report to the NSLDS and the XXXX that I am paying 4.88 % when I have actually been paying 3.875 % for the past 12 years. o I called the XXXX ombudsman that same day and they filed an appeal and reopened my case. The person I spoke with said that they would expedite the response since so much time had elapsed. Since this was a Friday afternoon, she said that I would receive a phone call from the XXXX ombudsman the following Monday ( XX/XX/XXXX ) or Tuesday at the latest. o It is now late XXXX and I have yet to receive a call, email, or any other communication from the XXXX ombudsmans office. When I tried to check on the XXXX website, I could not find an open case. 3. - I would also like some clarification about my loan interest rate and payoff date. I am worried that there may have been discrepancies I missed in the past that could have affected my payoff date or amounts paid. o As Ive been researching more about my loans and payments, I found that my original Stafford loans consolidated back in XX/XX/XXXX all show an interest rate of 2.32 %. I do not understand how the original consolidation loan recommended by my schools financial aid office had a blended interest rate of 4.88 %. o Another confusing thing is that my loan schedule says that I am on extended select 2 which shows a term of XXXX payments ending on XX/XX/XXXX. I counted the number of payments I have made since the consolidation in XX/XX/XXXX ( not counting the two deferment periods, of course ) and I see XXXX payments. If you dont count the forbearance that they put me on in XXXX, it is still XXXX payments since XX/XX/XXXX. ( There were also payments made in XXXX XXXX, but Im assuming none of those factor into the equation or starting date. ) However, the most recent payoff date I can find now says XX/XX/XXXX and that I still owe {$20000.00} of the original {$32000.00} loan amount. The payments Ive made ( since XX/XX/XXXX ) total {$29000.00}, but {$15000.00} of that has gone to interest ( more than half ). o If I was on the extended select 2 repayment plan, then why have I made in excess of XXXX payments and why is my payoff date still so far away? If the forbearance plan payments they recommended in XXXX dont count, I should still be getting close. o I looked at the qualifications for the extended select 2 schedule and I dont see how I could have been put on that later since one of the requirements is that the person must have in excess of {$30000.00} outstanding on the loan. I have had less than that amount due since XXXX, so I would not have qualified after that point. o I am certainly not an expert in student loans, but the more I try to understand what I owe and when I will complete the loan payments, the more conflicting information I find. o If nothing else, I do not understand why my loan information is not being reported accurately to the XXXX XXXX XXXX XXXX made loan payments when I could not attend school due to work and other commitments. XX/XX/XXXX Graduated from continuing education program at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ) XX/XX/XXXX Was advised by school financial aid office to consolidate loans XXXX XXXX XXXX XXXX XXXX XXXX XXXX so there would only be one payment with a blended interest rate that would lower the payment on some. The information I have shows that the consolidation loan had XXXX payments at 4.88 % with a payoff date of XX/XX/XXXX. XX/XX/XXXX XX/XX/XXXX loan payments. My understanding was that I was under the standard repayment plan. I was told on more than one occasion that I did not qualify for any other plan even though I had a single income and other debts ( school, medical, relocation, etc. ) XX/XX/XXXX XX/XX/XXXX deferment XX/XX/XXXX XX/XX/XXXX loan payments under the standard repayment plan. XXXX XXXX - Was struggling with payments due to financial and other hardships. Called on more than one occasion to inquire about payment plans, consolidating to direct loans per XXXX XXXX program, and other options. The interest rate was reduced to 3.875 %. I thought the loans had been consolidated to a federal direct loan. ( Upon a later inquiry in XX/XX/XXXX, I learned that the loans were actually never consolidated and were still under the old XXXX program. ) XX/XX/XXXX XX/XX/XXXX deferment XX/XX/XXXX XX/XX/XXXX payments under the standard repayment plan XX/XX/XXXX Struggling with payments due to job loss and other financial and medical setbacks. Called AES to ask some questions about the COVID program that temporarily suspended loan payments and interest. Was told that if I took part in that program, my loans would still accrue interest. They said I qualified for a program that was better because it would lower my payments and the interest would not accrue. I was skeptical and asked if lowering the payments would push the payoff date later. ( I explained that I was 50 and concerned about my ability to save for retirement if the loans are pushed out farther. ) I was definitively told no - that the payoff date would not get pushed later. I asked if the loan principle would still get paid off and I was told that it would. I asked if the interest would be higher and was told no that it would be the same rate I have now. I asked other questions like whether it would be a variable rate, if there would be some kind of balloon payment at the end, are there other issues I should be concerned about. I was told it would be the same rate I have now, fixed, no balloon payment, etc. ( I think this part was true. ) I said I didnt understand how I could just qualify for lower payments without any kind of catch and I was told I qualified for the program due to the amount of time I had been paying on the loan. I had been struggling to pay on the loan for around XXXX XXXX at that point, so I believed her. XX/XX/XXXX now loan payments under this new program XX/XX/XXXX I noticed that my loan amount did not seem to be decreasing. I looked online and downloaded the record of my payments and saw that all of those payments had gone almost entirely to interest. The principle was almost exactly the same as it had been in XX/XX/XXXX. Per someones advice, I contacted the XXXX and created an account on studentaid.gov. They said they could not help because my loans had never been consolidated to a federal direct loan and that I would need to work it out with AES. The customer service rep recommended that I consolidate the loans afterward and explained I would need to fill out an application with the XXXX for that to happen. I called AES to ask why the loan amount was not decreasing and was informed that I was on a forbearance program. This customer service person ( XXXX XXXX was actually very kind and helpful. He explained that there were documents on the AES platform ( I was not aware of that ) but that they only remain on the platform for a certain amount of time. He sent me some information about the forbearance via email. He also recommended that I consolidate the loan to a federal direct loan. He asked about my employer and said that I may qualify for PLSF since I had been working for an eligible non-profit organization since XX/XX/XXXX. When I called AES in XXXX, I definitely did not understand the nature of the program the rep recommended and the ramifications were not explained accurately. It is possible she said the word forbearance and I didnt hear or understand her ( I dont think so, though ). Regardless, I asked many, very specific questions about whether this new payment program would adversely affect my loan, payoff date, or amount due in any way and she literally and cheerfully said nope! each time. In XXXX, it would have made more sense for the rep to advise me to consolidate my loans to direct federal loans, take part in the COVID payment pause, and apply for the PLSF program since I was now working for a non-profit. Instead, I made payments that went almost 100 % to interest and pushed the payoff date of the loan. As near as I can tell from the paperwork XXXX sent me, the payoff date of my loan is now XXXX, XXXX, XXXX! XX/XX/XXXX there was an announcement about a temporary waiver to count XXXX payments towards the PLSF program. I verified my current employer qualifies, but wanted to see if this program might help me to pay off my loans sooner. I also wanted to choose a new servicer because I was upset at the number of times I had been given confusing or incorrect information from AES. I tried to consolidate the loans on the studentaid.gov website, but you are required to choose a repayment plan using XXXX repayment calculator tool. I discovered that the payment calculations were much higher because AES has been reporting my interest rate to the XXXX as 4.88 %. My rate had been lowered in XXXX to 3.88 % fixed. They also reported that both loans were unsubsidized loans, however, the larger of my two loans is a subsidized loan. The XXXX said they can not see this information and that AES would need to correct all of this before I could apply for a consolidation. I called AES and they confirmed that my rate was 3.87 % and that it would be corrected in five to 10 business days along with the loan type to subsidized. XX/XX/XXXX I contacted AES again because the information reported to the DOE had not been updated or corrected. They said that they could see that the ticket had been submitted and was still open. They said to give it another five to 10 business days and that I should see the correct information on the XXXX website. I explained each time that I wanted to consolidate and check into the temporary PLSF waiver to see if I might qualify and was worried about running out of time. XX/XX/XXXX- I contacted AES again because the information reported to XXXX had not been updated or corrected yet. They said that they could see that the ticket was still open and that it was with the NSLDS to make the correction on the XXXX website. They said to give it another five to 10 business days and that I should see the correct information on the XXXX website very soon. I explained again that I wanted to consolidate and check into the temporary PLSF waiver and was worried about running out of time. I had also contacted the XXXX during this time and they had recommended that I file an ombudsman case if the matter is not resolved promptly. They cautioned me that I needed to get the reporting resolved very soon so that I could get the consolidation process started. XX/XX/XXXX None of the incorrect information was updated on the XXXX website. I contacted the XXXX ombudsman phone number I had been given by the XXXX reps. I explained the issues with the loan information being reported incorrectly and the forbearance. The person recommended that it would be better if I filed my case on the website instead of by phone because I could upload additional documents to support my case ( XXXX XXXX from the AES website showing my actual interest rate of 3.875 % with subsidized and non-subsidized loans, information showing the loan amount had not decreased since XX/XX/XXXX, etc. ) I offered to email these, but she said it would be better to file online. I filed the case online and uploaded as much documentation as they would accept ( it was limited ). It said I would hear something back via email in five to 10 business days. After the 10 business days had passed with no word, I finally received a brief email saying the XXXX Ombudsman had sent the issue to AES to be resolved and that my case was now closed. It only mentioned the interest rate and nothing else. There were no next steps or other clarifying information. I called the XXXX ombudsman number and explained that AES had had many opportunities to resolve the issues and had repeatedly and deliberately failed to do so. I was at least able to learn that the case was with the AES ombudsman ( not just AES as the email had stated ) and that they were required to reply via email within 10 business days. I asked what I could do if they did not resolve the issue. I was told I could call to appeal the case and have it reopened. I again expressed my concern that I wanted to see whether I might qualify for the temporary PLSF waiver and was worried I was running out of time. The ongoing 10 business days was adding a lot of time. I explained that the XXXX had recommended that I consolidate asap as soon as the issues were resolved because the process can take months. XX/XX/XXXX 10 business days later. No word or communication from AES. XX/XX/XXXX I received a vague voicemail from an unknown number that said This is AES and we are just calling to let you know that you can contact us anytime if you have a question about your loan. I was confused because the voicemail did not mention my case or if the caller was with the ombudsmans office. Within 10 minutes, I called the number given on the voicemail only to discover it was the general AES customer service number. When got through the phone tree and the hold time, the customer service person was confused. He said that he could see that there was an outgoing call to my number, but there were no notes whatsoever in the system. He had no way to help or understand why someone had called me. He tried to track down the caller, but could not. I asked him if the call could have been from the ombudsmans office since a case had been sent to them. He put me on hold again and was then immediately able to track down the person who had called me. He connected me to the person from the voicemail, but she seemed reluctant to provide any information or help. I had to ask twice if she was with the ombudsmans office and she finally admitted that she was. I learned that nothing had been done on my case. I explained my concerns about the incorrect interest rate reporting and the forbearance. She immediately said oh the interest rate was probably just a temporary incentive program. I explained that I had never heard the words temporary incentive program and that my loan had been at the 3.87 % fixed rate for well over the past decade. She said there wasnt much she could do, but maybe send an email to check on it. I explained again that I wanted to look into the possibility of applying for the PLSF waiver, but that I couldnt consolidate and that I was running out of time. She said that I did not need to worry about running out of time because I would be eligible to apply for the PLSF waiver as long as the consolidation process had been started. I explained that information was incorrect. You need to complete the loan consolidation process ( which can take months ) and then apply for the PLSF waiver before XX/XX/XXXX when it expires. She told me twice that was incorrect and that I did not need to worry about running out of time. I have since confirmed with the DOE that her information was wrong. I asked why they had not responded via email within 10 business days as required by the XXXX She said that they had experienced technical difficulties and that her email was not working. I asked if they have a number and she did give me her phone number and extension ( it was a completely different number than the main customer service number she had left on my voicemail ). I asked if she could have them correct the loan reporting as they had promised and asked if she could email me back with an update. She said it would take time but that she would call the following week. Within the next hour or so, I received an email that said : Good afternoon, I received a response regarding the interest rates on the National Student Loan Data System ( NSLDS ) website. NSLDS reflects the statutory interest rate and does not update due to rate reduction programs. In addition, the 4.88 % that is currently showing on NSLDS, is rounded to the hundredth place since the initial interest rate was 4.875 %. Because your current interest rate of 3.875 % is a result of an incentive program, when we receive the consolidation application the incentive would be lost and, the loan would be consolidated at the original rate of 4.875 %. Please let me know if you have any further questions. Thank you, XXXX XXXX AES Ombudsman XXXX I do not know if this information is correct, but I do know that it is the opposite of what I had been told by AES on more than one occasion. Since the other information was incorrect, I do not feel confident in the validity of the answer. Furthermore, even if they refuse to allow me to keep the 3.875 % fixed interest rate, I still do not understand how they can report to the NSLDS and the XXXX that I am paying 4.88 % when I have actually been paying 3.875 % for the past 12 years. XX/XX/XXXX I called the XXXX ombudsman and explained the situation. They filed an appeal and reopened my case. The person I spoke with said that they would expedite the response since so much time had elapsed. Since this was a Friday afternoon, she said that I would receive a phone call from the XXXX ombudsman the following Monday ( XX/XX/XXXX ) or Tuesday at the latest. It is now late XXXX and I have yet to receive a call, email, or any other communication from the XXXX ombudsmans office. When I tried to check on the XXXX website, I could not find an open case. I do not know if the PLSF waiver or newly-announced IDR changes might help me to pay my loan off faster, but I do know that the incorrect information reported to the XXXX prevents me from consolidating to a new servicer. The higher interest rate and compounded interest added to my principle would make my payments considerably higher, would significantly increase the amount I have left to pay, and would push my payment timeline well into the future. If nothing else, I do not understand how it could be legal for my current loan and interest rate payment information to be reported incorrectly to the XXXX I also do not think it is ethical or fair that AES would try to prevent me from changing servicers by refusing to report the actual interest rate I have been paying for close to 12 years.
Company Response:
State: NC
Zip: 27713
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-26
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I applied for PSLF. After about eight weeks FedLoan Servicing contacted me to let me know that I had entered an incorrect employer FEIN/EIN number on my application and requested a copy of my 2020 W-2 from that same employer. I submitted the W-2 as requested as evidence of the correct FEIN/EIN number. I was then informed that because I had initially entered an incorrect FEIN/EIN number on my application they had closed my case and require that I start the application process all over again ( aka : go to the back of the line ) despite their having the correct FEIN/EIN now in their possession. This seems egregiously unfair. Apparently FedLoan Servicing continues to deny PSLF applications based upon easily resolved technicalities Thank you.
Company Response:
State: IN
Zip: 47203
Submitted Via: Web
Date Sent: 2022-04-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Dealing with your lender or servicer
Subissue: Problem with customer service
Consumer Complaint: I am filing a complaint against Fedloans. I am attempting to get my student loan forgiven through the XXXX XXXX XXXX XXXX program ( XXXX ). I have worked for qualifying agencies for more than 10 years, so I meet this requirement. From XX/XX/XXXX to XX/XX/XXXX, I worked for XXXX XXXX XXXX, and from XX/XX/XXXX to the present I have worked for XXXX XXXX XXXX XXXX. I have provided the required documentation signed by Human Resources officers at both companies proving that I work/worked there. My first problem is that Fedloans is saying they havent yet approved/confirmed my current employment. I dont understand what the delay is. I mailed off the signed paperwork last fall. Fedloans approved my employment at XXXX XXXX XXXX but not XXXX. I am 100 percent certain that XXXX is a qualifying company because other people who work there are getting their loans approved and HR told me they dont understand why I have not. When I finally got through to a person at Fedloans ( after no one responded to two separate emails I sent, XX/XX/XXXX and XX/XX/XXXX ), they said there was nothing they could do to expedite the process. They were not willing to talk to HR to confirm my employment. They transferred me to a specialist. After waiting on hold for 1 hour and 20 minutes to speak to the specialist, I finally had to hang up. Because Fedloans is not approving my current employment, I am not eligible for loan forgiveness ( you must currently be employed by a qualifying agency ). Other problems I have been unable to resolve with Fedloans : 1 ) I am only being credited with payments made to XXXX. I am not being credited with payments made between XX/XX/XXXX and XX/XX/XXXX. At that time, I was making payments to a different loan company, XXXX XXXX. 2 ) I am not being credited with two lump sum payments I made, each the equivalent of 6 months of payments : I paid {$710.00} on XXXX and I paid {$710.00} on XXXX. Thank you for any help you can provide in resolving this matter. My fear is that Fedloans is going to keep ignoring me until they get out of the student loan business in XX/XX/XXXX and I will miss the deadline for student loan forgiveness eligibility ( XX/XX/XXXX ). XXXX XXXX
Company Response:
State: TN
Zip: 378XX
Submitted Via: Web
Date Sent: 2022-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Struggling to repay your loan
Subissue: Can't get other flexible options for repaying your loan
Consumer Complaint: I have already paid into the deferment through wage garnishment. My loans have been on hold for forbearance but while on forbearance they were still sent to debt collection instead of remaining on hold. I am afraid I will not be able to get future education help with this still standing as is. I am planning on returning to school this fall is possible. I have been off work every since XX/XX/2020 from the COVID 19 ffcva with a family member that was left paralyzed and unable to care for themselves at this time.
Company Response:
State: TX
Zip: 757XX
Submitted Via: Web
Date Sent: 2022-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-25
Issue: Dealing with your lender or servicer
Subissue: Received bad information about your loan
Consumer Complaint: On XX/XX/XXXX, the Federal student loan flexibilities for the COVID-19 emergency have been extended through XX/XX/XXXX. On XX/XX/XXXX, FedLoan Servicing recalculated my monthly payment for my Income-Based Repayment ( IBR ) plan. " We used your income documentation and family size to determine your monthly payment of {$190.00} which is first due on XX/XX/XXXX. * '' My new monthly payment amount is " effective for all payments due between XX/XX/XXXX and XX/XX/XXXX. '' Since I am currently on a deferment or forbearance, I am " not due to make my first IDR payment on XX/XX/XXXX '' ( the account letter is on file at FedLoan Servicing, PHEAA ). On XX/XX/XXXX, FedLoan Servicing RECEIVED my ( YOUR ) PSLF FORM, and notified me with a letter about the receipt ( my account letter is at the FedLoan Servicing, PHEAA ). On XX/XX/XXXX, AFTER FedLoan approved my IDR Plan, and AFTER FEDLOAN RECEIVED MY LIMITED PSLF FORM/APPLICATION, FEDLOAN SERVICING reviewed my Income-Driven Repayment ( IDR ) plan form and could not process ( DENIED ) MY request for the following reasons : " MISSING INFORMATION - SUPPORTING DOCUMENTATION NEEDED : To continue processing your request, please provide a copy of your most recently filed federal income tax return or tax transcript and the enclosed page within the next couple of days. '' In all previous ( Nine ) years, FedLoan was accepting my paystubs as valid documents for re-certification, and just now, this year, FedLoan denied my most recent paystubs, where my yearly and monthly salary is printed. I allege that FedLoan purposely rejected my IDR application in order to disqualify me from the Limited PSLF Program, after I consolidated my student loans on XX/XX/XXXX, for which I have already had XXXX certified payments toward the PSLF Program, certified by FedLoan Servicing. This has happened on the same XX/XX/XXXX,, when " on XX/XX/XXXX, the U.S. Department of Education ( ED ) extended the student loan payment pause through XXXX XXXX, XXXX. '' This is an unlawful violation of the New Regulations toward the Limited PSLF Program. I sent an email/A COMPLAINT to the Press Office XXXX XXXX XXXX ) XXXX, U.S. Department of Education . More importantly, FED LOAN SERVICING DENIED MY APPLICATION AFTER " the Federal student loan flexibilities for the COVID-19 emergency have been extended through XX/XX/XXXX '' I insist an immediate reinstatement of my IDR ELIGIBILITY per my first original approval by the FedLoan Servicing on XX/XX/XXXX. My IDR plan, or Income Based Repayment Plan eligibility must be stated in a FedLoan Servicing written letter, and mailed to my home address. " The U.S. Secretary of Education XXXX XXXX stated, Today ( XX/XX/XXXX ), the Department of Education will begin to remedy years of administrative failures that effectively denied the promise of loan forgiveness to certain borrowers enrolled in IDR plans. These actions once again demonstrate the XXXX administrations commitment to delivering meaningful debt relief and ensuring federal student loan programs are administered fairly and effectively.
Company Response:
State: NY
Zip: 14626
Submitted Via: Web
Date Sent: 2022-04-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A