CFPB Complaint

AES/PHEAA – CFPB Complaint

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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READ  Navient Solutions - CFPB Complaint

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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