Consumer complaint received 2016-05-25
Company: Utah System of Higher Education
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Trouble with how payments are handled

Complaint:
My Loan, previously owned by XXXX, was transferred ( or bought ) by a company called UHEAA ( Utah Higher Education Assistance Authority. 
Before buying my loan, I had just under {$5000.00} remaining on the loan at 6.55 % interest. To avoid paying tons of extra money to the lender, I was repaying the loan at {$240.00} per month, which was above the {$130.00} minimum payment because every responsible recommendation has said pay loans back as fast as you can, not only at the minimum. 
Once UHEAA bought my loan, one payment was processed for the {$240.00}, but then they reduced the automatic monthly payment down to the minimum {$130.00}. I moved outside the country after university, so I have all my payments automated. To amend them is onerous from outside the country. So UHEAA gave me no notice of changing my automated payment, and I believe they did so to maximise the length of time it would take me to pay it off, and therefore their interest. I am sure that other students who might not check their bank statements frequently could have missed this predatory tacit, and though they think they are paying over the minimum payment, they are now back at the minimum payment. I consider the predatory and illegal. 
I received an email from UHEAA on XXXX XXXX, XXXX stating : " If you have been making automated electronic payments to XXXX, your bank account information will be transferred to us, and no action is required in order to continue the automated electronic payments '' I contacted UHEAA on XXXX XXXX with the below email and have received no reply : Hello, After acquiring my loan from XXXX, it appears UHEAA has reduced the amount that I was paying by Direct Debit. For years, I have been paying {$240.00} per month, which is more than the minimum payment on my loans. 
After acquiring my loan, it appears UHEAA has reduced the amount that I am automatically paying to the minimum - {$130.00}. 
I have serious concerns that UHEAA doing so is actually illegal. Had I not noticed that the amount has ben changed, then I would be paying off the bill for longer, and UHEAA getting more interest. 
Can you please notify a manager of this and get back to me as soon as possible, informing me 1 ) Whether this is standard practice or is it illegal activity that constitutes predatory lending practice, and XXXX ) that you will change my direct debit amount back to {$240.00}. 
Do not reply to my request informing me that I can re-register my bank details and start a new scheduled payment amount - it is your responsibility as the new lender to carry on my parents as before without interruption. 
Can you also inform me of what agency or department does independent oversight of your operations? 
Sincerely, XXXX XXXX. 

( Payment details for first XXXX UHEAA payments post-XXXX attached below ) XXXX/XXXX/XXXX Borrower Payment {$130.00} {$4000.00} View Details for this loan This payment was applied to the following loans : Disb. Date Loan Type Principal Interest Late Fee Totals : {$100.00} {$23.00} {$0.00} XXXX/XXXX/XXXX FEDERAL STAFFORD LOAN {$42.00} {$9.00} {$0.00} XXXX/XXXX/XXXX FEDERAL UNSUB STAFFORD LOAN {$64.00} {$14.00} {$0.00} XXXX/XXXX/XXXX Borrower Payment {$240.00} {$4100.00} View Details for this loan This payment was applied to the following loans : Disb. Date Loan Type Principal Interest Late Fee Totals : {$210.00} {$23.00} {$0.00} XXXX/XXXX/XXXX FEDERAL STAFFORD LOAN {$87.00} {$9.00} {$0.00} XXXX/XXXX/XXXX FEDERAL UNSUB STAFFORD LOAN {$130.00} {$14.00} {$0.00}

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation