Consumer complaint received 2022-10-26
Company: Maximus Education, LLC dba Aidvantage
State: FL
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Received bad information about your loan

Complaint:
Student loan Hi. I am trying to get approved for a mortgage and my student loan is in the no payment zone from President Biden still, which is nice but it also creates problems when I'm trying to get qualified for a Fannie Mae mortgage that takes 1 % of the balance of your loans for a payment. Or if you get a XXXX XXXX loan it takes .5 % of an outstanding balance. The problem is I have XXXX loans from XXXX to XXXX and then graduate loans from XXXX to XXXX. The only time I was required to make payments was from XXXX to XXXX. All the other years during school I didn't have to and for about a half a year after each degree as XXXX told me to defer my loans. While my loans were in deferment while being in school, the interest was accruing and the balance was going up, and I also was taking out more loans each semester. And then coming out of my XXXX XXXX, in XXXX I was offered by XXXX a payment income based program with my student loans and my payment was minimal a month however it wasn't enough to cover even the interest, so that was compounding and accruing. And then in XXXX I consolidated all of my debt with XXXX because I had about 12 different payments I was making. And for the most part I lowered my interest- rate which I thought was a smart thing to do. 
However, I wasn't told by XXXX that once I refinanced my debt with then that and consolidated it that the clock started over so I Lost any credit for any payments that I've been making up to that point. ( including any deferment periods while in school ). Furthermore, XXXX encourage me with every phone call to go into forbearance whenever I wasnt able to make a payment, or to take a XXXX payment plan. I consolidated my debt at approximately XXXX in XXXX, and because I was always in a Income based repayment plan where the payments were not even covering interest, it is now five years later and the debt balance is XXXX. 

My loan is now with aid advantage, and I requested all documentation to prove what my original balances were from when I started school in XXXX to the present day. They told me they dont have that they only have my balance that I owe them. I said I find that very fishy and I dont want to pay some thing that I dont know is the right balance. They have never sent me any paperwork that is sufficient to satisfy have a balance could be over {$150000.00}. 

When trying to get approved from mortgage, one percent of that balance is {$1500.00} a month payment for a XXXX XXXX  mortgage or {$750.00} a month for a XXXX XXXX mortgage. I can not qualify for a mortgage because of this. It is included in my monthly liabilities and making my debt to income ratio way off the charts. It's bad enough that the houses are expensive and the mortgage interest rates are high now I have a ridiculous and ambivalent payment added into the mix. This balance is ridiculous. I did not get a lawyers degree, I did not get a medical degree. I have two XXXX XXXX from two schools that would accommodate me while I was Working two full-time jobs and raising a child to get him ready for college. This is a rat race. I will have this debt till the day I die. That recent XXXX XXXX that paid out {$260.00} to multiple people is a joke. What is {$260.00} going to do for me or anybody. I understand it's the restitution. And I received the {$260.00} so that is confirmation that XXXX steered me in the wrong direction all these years. And now aidadvantage is being very fishy with how theyre handling my loans as well. was never late on any payment I don't have any hits on my credit like that. 

However my interest rates that I am offered and the amount of credit that I am offered is constantly inhibited because I have this high balance of student loans on my credit profile that is false and I cant get anyone to be honest with me and fix it. I do not owe $ XXXXI 'm at a loss as far as trying to figure out how to get all of this extra excess off of my balance. 
I always did everything that any student loan representative from XXXX and now aide advantage called me and suggested in my situation. Thus they were sued for misleading people. 

I demand that aid advantage give me records going back to when I first started school to show me all of the balances of the loans and all of my payments and all of the times that my loan was deferred or put into an income payment, and then tell me how much time I have left before my loans will be forgiven. I was misled by XXXX and I no longer have any credit for all the years that Ive been going to school since XXXX. 

I dont even have a real true balance and it is affecting my life my interest rates for cars my ability to buy a home my ability to get credit cards or loans. XXXX and now eight advantage are ruining my life and I wan na know why theyre allowed to get away with us. Theyre just demanding money for me without giving me any paperwork to back it up. 

I have called them several times since inception from XXXX. 

Thank you.

Company response to consumer: Closed with explanation