CFPB Complaint

AES/PHEAA – CFPB Complaint ID 3041284

Consumer Complaint Submission

Date Received: 2018-10-09T00:00:00

Product: Federal student loan servicing

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I applied to change my income based payment plan on XX/XX/2018 from the IBR plan to the revised pay as you earn plan. This would significantly lover my monthly payment ( about {$100.00} less a month ). I was told I would hear back from XXXX XXXX by the XX/XX/XXXX with a decision. Since I hadn’t heard back from them I called on the XXXX to see what was going on. I was told the application was in process and that it should go through in the next few days.

As of XX/XX/XXXX I still hadn’t heard anything so I called again. This time I was told that the application had a note requesting it be looked at now. That note was placed on the XX/XX/XXXX. I was also told that it could be several months before the payment plan is switched. I made sure I did this with plenty of time before my student loans became due as they were in forbearance until XX/XX/18. I also requested a due date change and was told that would take affect when the new payment plan went into effect. The current payment owed is {$300.00} a month and the new payment plan would bring it down to about {$200.00} a month.

Company: AES/PHEAA

State/Zip: VA

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3041284

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