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AES/PHEAA – CFPB Complaint

By on July 7, 2017

Date Received: 2017-05-03T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I am one of the people that has been affected by The U.S. Ed. Dept. ‘s Loan Forgiveness Bait and Switch Sham. I h ave been paying on my loans before Former President XXXX may it law in XXXX XXXX loan forgiveness. When the law was enacted I was happy thinking that in ten years my student loans would be forgiven as a federal employee. XXXX or XXXX XXXX I contacted my loan servicer FedLoans to see why on my bill ( s ) it stated I had only made 41 qualifying payments toward forgiveness of my loans. I was told they would research and contact me within 90 days. No call and/or no response. I contacted the loan servicer in XXXX XXXX and was told I was not under the correct payment plan until 41 payments ago. That I had been under forebearance, etc. and not a payment plan. All along I thought my payments were going to loan forgiveness. I thought I had less than a year left on my student loans to tell me I have five plus more years to pay. I HAVE BEEN MISGUIDED AND DECEIVED. I was offered no appeals, etc. The loans have been serviced by several different companies within the Department of Education ‘s umbrella. I have been told I ‘m now in the correct payment plan and under the correct servicer. I DO N’T THINK THE WHOLE PROCESS IS FAIR. I have been paying on these student loans over 10 years ; and thought I had come on a good thing. BUT I WAS FOOLED.

Company: AES/PHEAA

State/Zip: KY 405XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 2474264

The above data is from the Consumer Financial Protection Bureau. Keep in mind that every company will get a complaint from time-to-time, even the great ones. But there are a few key data points that will give you an idea about how well the company values their customers and handles consumer issues.

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Look at the item Company Response to Complaint: and Did Consumer Dispute Company Response: to get a better idea of how this was resolved. And the field Consumer Complaint: can give you some context of the issue.

In particular what you are looking for was that the company response was timely and that the consumer did not dispute it. The posting of complaints has proven to be a valuable resource for both companies and consumers.

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