Date Received: 2018-11-20T00:00:00.000
Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Consumer Consent Provided to Share Complaint: Consent provided
Consumer Complaint: In XXXX I received a FFEL Consolidated Loan through ACS and paid on that loan until XXXX. From XXXX through the present, I have worked as a public service employee. I was led to believe by ACS that my qualifying payments from XXXX onwards would be eligible for the Public Service Loan Forgiveness Program ( PLSF ). As a result, I believed that I had earned approximately 4 years ( loans were on forbearance at times ) worth of qualifying service towards PSLF. ACS NEVER informed me that my loan needed to be converted into a Direct Consolidated Loan. It wasn’t until XXXX, when the government released their forms and clarified the requirements, that I learned that the FFEL consolidated loan that I had been paying on did not qualify. As a result, I applied and received a Direct Consolidation Loan. Like so many of the student loan borrowers, who were mislead about the program, I had to begin all over with repayments. Four years of service disqualified and four years of unnecessary payments all because ACS failed to inform their clients of necessary information!!! This is not fair to all of us past students who relied upon this loan servicer ( as well as others ) and are now having to continue with the burden of paying off our debt much longer than expected.
Company: ACS Education Services
State/Zip: SC 294XX
Company Response to Complaint: Closed with explanation
Was Company Response Timely: Yes
Did Consumer Dispute Company Response: N/A
Complaint ID: 3078951
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