AES/PHEAA – CFPB Complaint ID 3109006

Date Received: 2018-12-26T00:00:00.000

Product: Federal student loan servicing

Issue: Struggling to repay your loan

Consumer Consent Provided to Share Complaint: Consent provided

Consumer Complaint: I originally borrowed close to {$50000.00} for graduate school. At the time, I borrowed from XXXX XXXX at the time a reasonable interest rate of 4 %. During the period of two years the rate was consistent, but then was transferred sold to a XXXX bank and had ballooned to 9 %. Now, I owe close to {$400000.00} since 1997. I have never been able to pay the monthly payment and have since enrolled in an IBR. I have also applied for the Public loan forgiveness program in Hope ‘s of salvaging some sort of life with this debt. I was never made a ware the loan could reach such heights with the end result of all that investment leading to a trap. It’s unfortunate everyone is vulnerable to such bad lending practices. Please help us.

Company: AES/PHEAA

State/Zip: CA 921XX

Company Response to Complaint: Closed with explanation

Was Company Response Timely: Yes

Did Consumer Dispute Company Response: N/A

Complaint ID: 3109006

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