Consumer complaint received 2020-03-19
Company: Rhode Island Student Loan Authority
State: ME
Product: Student loan
Sub-product: Private student loan
Issue: Dealing with your lender or servicer
Sub-issue: Problem with customer service

Complaint:
XX/XX/XXXX XXXX  XXXX XXXX.- present, complete estrangement from my son ( borrower of 2 Rhode Island Student Loan Authority loans ) XX/XX/XXXX Upon realization that he had not started to repay these loans, I ( co-borrower ) assume responsibility of the 2 loans. ( and also his loans from other lenders ) Please see attached 2 pg schedule of actual payments made to RISLA. These payments were made responsibly and consistently to the best of my ability. Also, attached credit report proving at least 3 full years in good standing reported by RISLA. 

XXXX I am diagnosed : XXXX/XXXX/XXXX. Paid loan # XXXX in it's entirety, roughly $ XXXX. My plan : hoped my son would be then responsible for the 2nd loan and I could start to help myself regarding my failing health.

My son, ( borrower ) did not respond and I CONTINUED payments ( greater than 24 ) on the 2nd loan ( # XXXX ) until XX/XX/XXXX XX/XX/XXXXDealing with ramifications of my XXXX 's diagnosis both physically and financially. Impossible to make the loan payments on the 2nd loan any longer. 

XX/XX/XXXX Terminated from my job of 35yrs. Rendered XXXX XXXX XXXX XXXX, Dr. XXXX, XXXX XXXX XXXX XXXX XXXX, XXXX, MA. 
Please see completed XXXX  form attached. 

PRESENT : I have requested RISLA release me as co-borrower of the remaining loan. I've tried to express to RISLA that my extenuating circumstances have created such a hardship that I can not make any type of payments and maintain a minimum standard of living. My circumstances during the term of the remaining loan will only get worse. I most certainly have made an honest and good faith effort to do the best I can to repay. 

Please see attached letter XX/XX/XXXX to RISLA and response letter from RISLA.

My request to be released as co-borrower has been reviewed by the RISLA Loan Servicing Manager, Director of Loan Operations and the Director of Compliance. They maintain that I did not make the FIRST 24 payments on time/ consecutively. There are TWO loans I was responsible for as co-borrower. Initially, when I understood they were not being paid by the borrower, I took responsibility and paid consistently for years. ( over $ 40k ). RISLA will NOT acknowledge this whatsoever. I do understand that my son is working and making payments to RISLA ( $ XXXX balance ). Although RISLA sympathizes with my hardship they maintain there is no policy in place for co-borrower release due to XXXX  XXXX. There is a policy in place for the borrower, with whom I have equal responsibilities. Therefore I have the right to full discharge due to my XXXX XXXX  XXXX. ( Never mind the good faith efforts I have made to be responsible regarding re-payment. ) This situation has been demeaning to me and caused me needless distress. In the meantime, I have been released as co-borrower for each and every other private and federal student loan I have co-signed for both my son & daughter.

Company response to consumer: Closed with explanation