Received a letter in the mail that said “Federal Student Loan Consolidation Notice”. I called the number(888)380-6587 on February 2, 2015.
I spoke with Annette Martinez, who mentioned that I may qualify for the Obama Student Loan Forgiveness Plan. She asked for my my full name and address. Also asked for my social security number. I did ask why she needed my social and Annette said it was to verify I was who I said I was (should have smelled the scam right then). She then asked for my pin for my student loans. (I found it odd she needed that too, and figured the DoE would have access to that)
She then put me on hold. When she came back, Annette said I qualified for IBR (Income Base Repayment) for $29.99/month for 240 months and then after that, the rest of my loan would be forgiven.
We talked about the different options, and everything seemed legitimate, until Annette mentioned there was a “loan closing cost” of 3 payments of $233, all within less than 30 days.
I started asking questions about the process and why it cost so much to file what she called “administrative forbearance” with FedLoans. Annette said their company was like the H&R Block of student loans and the “loan closing cost” was to pay them and the other branches involved in student loan processing to do all the paperwork. She said that student assist plus would NOT be the ones handling my loans, that they were just the mediator for the Dept. of Education, and that I’d be paying a different loan servicer with lower interest rates. We decided payments would be via checking account and the 3 payments, starting at a later date of February 12, 2015. She then asked me for my routing number and account number to charge the payments and monthly dues to.
I was then emailed an electronic PDF document, and told to sign and send with my first payment when ready (I had received several confirmation emails from Annette throughout this process, and thought she’d answered all the right questions. I was then transferred to student loan processing for a verbal contract agreement, which is essentially me saying that I agree with what Annette mentioned during our earlier conversation. I said yes to everything.
I never found anything incriminating online during this process. But later that day, I spoke with my dad, and he pointed out they would NEVER ask for SS, PIN, driver’s license, or for payments to switch accounts. Not long after, I found the other review of SAP on this site. I immediately called and cancelled and then emailed Annette to cancel and ask that all information be purged. I have kept all the printed documents and filed a 90 day fraud alert on my credit accounts, warned my bank and fedloans, filed a complaint via the BBB, and will be looking into protecting my SS number and possibly changing my student ID if necessary. Thus far, no account activity has occurred (it is February 8, 2015).
Consumer Action Taken:
Emailed and cancelled account and then called the representative and left a voicemail explaining the same. No response from Annette thus far.
Date This Problem Happened: February 2, 2015
State You Live in: Missouri
Age Range: 21-35
Total Amount of Fee Paid:
Company Name: Student Assist Plus
8001 Irvine Center Drive., Suite 400
Irvine, California 92618
Company Telephone Number: 888-456-4055
Website of Company: studentassistplus.com
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