Consumer complaint received 2017-02-11
Company: AES/PHEAA
State: DC
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with my lender or servicer
Sub-issue: Received bad information about my loan

Complaint:
Hi there, I 'm a XXXX employee enrolled in the XXXX ( XXXX ) through FedLoan Servicing ; the plan in which after XXXX payments the remainder of the loan will be forgiven. Once again, FedLoan Servicing has incorrectly placed my loans into the wrong plan and provided contradictory information. 

I keep a spreadsheet with the date and name of the person I 'm speaking to, along with their guidance - for the past 3 years. Nearly each time, the instructions contradicted the prior call instructions. The customer representative herself/himself is usually professional and courteous. I follow their instructions, and that 's where things fall apart. 

In the latest incident, on XX/XX/XXXX, I was advised that the newly rolled out REPAYE program would offer the lowest monthly payment while maintaining eligibility for the PSLF. I asked her this question twice, because it 's very important that I stay on the program in order to reach the XXXX payment requirement. She confirmed the change would not affect the PSLF ( other than losing XXXX months of payment credit while in forbearance during the change ). When I asked if I should choose the REPAYE option, the rep replied no and advised I check the box entitled " I want the income-driven repayment plan with the lowest monthly payment '' which would result in the REPAYE option anyways, since based on her calculations, that would be the lowest monthly payment. And so I requested my loans be moved from the XXXX with a payment of $ XXXX. 

I just received noticed that my loans were moved to the XXXX XXXX XXXX which is XXXX ) not eligible for the XXXX, meaning none of my payments would count towards the program and XXXX ) my monthly payment would now be {$1000.00}. Needless to say, while I should n't be surprised since this is what I 've been dealing with since enrollment into the program ( which took over XXXX months to process ) over the last XXXX years, it alarms me that this clearly unqualified loan servicer continues to manage XXXX of the country 's largest student loan program. Now I sit and wait until Monday, because they 're not open on weekends, and worry that it will take another XXXX months for this to be corrected while I pay an amount nearly XXXX % higher than my previous payment and XXXX another XXXX months of credit towards the XXXX credit required in the PSLF. The worst part is, even after recapping the original request and discrepancy to the person on the other end of the phone on Monday, I will have no idea if what they tell me this time will be the right answer because each time I call it 's a different answer. I have several other examples, should that help. 

Strongly request FedLoan Servicing be considered for a review for negligence, clearly no fiduciary duty, and at this point, predatory practices given the compounding interest and fees they 've received driven by these activities. 

I thank you for all of your hard work and efforts towards protecting consumers, it has not gone unnoticed.

Company response to consumer: Closed with explanation