Consumer complaint received 2017-05-25
Company: AES/PHEAA
State: NV
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:
Greetings, XX/XX/XXXX In XX/XX/XXXX, I received a government student loan to be paid to XXXX XXXX College ( XXXX ), also known as XXXX XXXX University. This college is now XXXX University. During my initial admission process, I was informed by the admissions counselor that XXXX ( XXXX ) was in the process of getting accredited. This was in XX/XX/XXXX. A year and a half later, I moved to XXXX, XXXX. I went to XXXX XXXX College, and attempted to transfer my credits. The admissions counselor told me XXXX ( XXXX ) was not in the accreditation handbook ; therefore, he could not transfer my credits. He showed me the handbook and XXXX ( XXXX ) was not in the accreditation handbook. This was the end of my college career. I was crushed. I am currently a XXXX. Had XXXX been in the process of being accredited or in the process of, I would not be a failure. I am now paying {$17000.00} for absolutely nothing. I learned that admissions counselors are not only given commissions for signing up students ; they also have a quota. I feel I was lied to. It would not take a year and a half to get accredited. In XX/XX/XXXX, I learned that XXXX ( XXXX ) is now XXXX College. I have not contacted XXXX College. I learned in XXXX XXXX during my short stint ( XX/XX/XXXX-XX/XX/XXXX ) in XXXX ( XXXX ) that if a contract is signed under false pretenses, amongst other things ( duress, etc. ) this makes the contract null and void. I am now paying an exorbitant amount of money for absolutely nothing. {$17000.00} ( {$140.00} per month ) is a lot for nothing. This is an injustice. If XXXX ( XXXX ) was in fact in the process of getting accredited, and had been, I would be a XXXX XXXX for the last 15 years. I would gladly pay back that loan. If they were in the process, it would have happened within the year and a half. I want justice for the fact that I am paying a five-figure sum for absolutely nothing, based on the promise of an admissions counselor. A promise I feel was under false pretenses. I have no problem paying {$140.00} per month for something tangible ; not what I feel is a waste of a year of hard work and a great GPA. If you check my college attendance, you will see not only a great attendance record ; a student that frequented the Presidents and Deans list for grades. I would like to know if, because of the fact that a contract signed under these premises is null and void ; more so, what can be done in this case. Due to the circumstances, can this loan be forgiven without contacting an attorney? In XX/XX/XXXX, I was given the opportunity to forgive this loan due to being on XXXX ( no longer ). The only requirement : I was told I could never return to college. I chose not to accept those terms due to the fact that I wanted to have that opportunity. Paying this amount monthly, for the next decade for absolutely nothing is a hard pill to swallow. Thank you for your attention to this matter. I am currently in good standing with my monthly payments. Copied and pasted : Is XXXX accredited? But it is not regionally accredited by the XXXX XXXX XXXX XXXX XXXX XXXX, which accredits all state schools in XXXX and most of the state 's private, nonprofit schools. XXXX applied for XXXX accreditation, but WITHDREW its application in XX/XX/XXXX.XX/XX/XXXX Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX * XXXX XXXX , XXXX XXXXXXXX Acct # XXXX

Company response to consumer: Closed with explanation