CFPB Complaint

AES/PHEAA – CFPB Complaint ID 3057222

Consumer Complaint Submission

Date Received: 2018-10-26T00:00:00.000

Product: Federal student loan servicing

Issue: Dealing with your lender or servicer

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I am currently on an a IL repayment plan which is the default plan after I did not recertify my IBR repayment plan. This IL plan is essentially the equivalent of a 10 year standard repayment plan which means my payments still qualify for PSLF.

I went to the federal student loan website to review other repayment options and ICR was listed as lower. I filled out an application based on this. XXXX had a different calculation method and stated the payment would be significantly higher than that listed on the federal website. They had placed my application on hold and did not process. When I called them in XX/XX/2018, I asked that my application be canceled and make no changes to the repayment plan as it was the lowest and payments still qualify for PSLF.

They stated they need to do some administrative things on their end to cancel however my loans are in forbearance and in a repayment plan I did not request. I can not even get a standard 10 year repayment plan which would still qualify for PSLF as it is not even offered. The payments in the new plan are higher and do not qualify for PSLF. I have spoken to customer service several times to reinstate the previous repayment plan that I was on as I never requested to be changed over to this new plan nor placed in forbearance. I was specifically told the application was on hold and that my application will be canceled. I am unable to get a timely resolution before the next payment is due.

Company: AES/PHEAA

State/Zip: NJ

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3057222

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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