CFPB Complaint

AES/PHEAA – CFPB Complaint ID 3046746

Consumer Complaint Submission

Date Received: 2018-10-15T00:00:00

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: XXXX XXXX did not handle my automatic payment known as Direct Debts as described. XXXX XXXX also gave me misinformation about the loan payoff.

I signed up for a direct debt to automatically pay on the XXXX of every month, but that it never posted on that day. Instead it would post 2-14 days later. The delay in payment meant more interested would grow within those days.

Additionally when I went to make my final payment and requested for a loan payoff amount, XXXX XXXX gave me the wrong amount. It gave me a calculated pay off at {$990.00}, but as per a costumer service representative, it was {$1.00} under the ” actual amount ”. The website has a loan payoff calculator in which you provide a date and they calculate the payoff for that date. Whenever you use it, it is wrong. When I spoke to the customer service representative about this, she said me that this happens frequently and people end up having a balance even though it shows that the account balance is at {$0.00}. This happened to me twice with two different loans. The first time I paid a random amount extra, any extra funds over the ” actual payment of payoff ” was not refunded to me, nor was it applied to another loan. The second time I called in and they customer service representative gave me an amount. For some reason she can see if in get system, but the online user accessible system did not have that amount.

Both these practices are misleading and make the student loaner pay more.

Company: AES/PHEAA

State/Zip: CA 94577

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

READ  First Associates Loan Servicing LLC - CFPB Complaint ID 2645428

Complaint ID: 3046746

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.

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.

About the author

Research Department

Here is where you will find important stories located from around the web which can impact you and your financial life.

Scroll to Top