Consumer complaint received 2019-11-25
Company: Premier Student Loan Center
State: OR
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
On XX/XX/XXXX a Premier Student Loan Center representative XXXX XXXX informed me about the student loan forgiveness program. I was told that as long as I qualify I would be able to be forgiven of my student loan debt after 120 payments. I went ahead and filled out the requested paperwork that was supposed to be sent to the Department of Education. 

On XX/XX/XXXX Premier Student Loan Center representative XXXX XXXX notified me via email that my consolidation loan package was approved and was sent to the Department of Education. 

On XX/XX/XXXX Premier Student Loan Center representative XXXX XXXX sent me the following email : CONGRATULATIONS! We received all the necessary documentation in order to process your consolidation! We have reviewed your file for accuracy and have submitted your consolidation loan package to the Department of Education. Please keep in mind that the approval process can take up to 45 days. Also, attached is your Public Service Employment Verification form. Please have your employer fill this form out and return back to me as soon as possible. If you have any questions, please do not hesitate to call us at XXXX. 

On XX/XX/XXXX I contacted Premier Student Loan Center representative XXXX XXXX about my recurrent payments not occurring and therefore no payments were going toward the '120 ' payments that I need to make for loan forgiveness. XXXX XXXX replied with following email : I just got off the phone with XXXX XXXX and they have the waiver but they never processed it. The rep I spoke to put it in review and they are going to process it within the upcoming weeks. I do apologize about that, I do not know whats going on on their end but they have it and will apply it soon. 

On XX/XX/XXXX XXXX XXXX contacted me again but now the company name was changed form Premier Student Loan Center to SL Account Management. XXXX 's email to me was the following : Your application has been approved by XXXX XXXX XXXX. Your new payment information is listed below : Repayment Plan : Revised Pay As You Earn, Monthly Payment Amount : {$0.00}, First payment Due Date : XX/XX/XXXX, I will be reaching out to you in 10 months for updated proof of income, for your annual recertification. Please call me with any questions. 

On XX/XX/XXXX I reached out to XXXX XXXX about making sure to include my new set of student loans in my loan forgiveness program. XXXX replied via email the following : So it looks like you took out 3 new loans in XX/XX/XXXX or so. Those new loans can be included when you are done with school and when the loans enter their grace period. Since you work for non profit we do not want to consolidate them because it will start your term all over. When the loans enter their grace period we will apply the correct repayment plan so they are included in the forgives and your term does not start over. 

On XX/XX/XXXX I received an email from Bureau of Consumer Financial Protection ( CFPB ) notifying me that Premier Student Loans is being sued for deceptive practices and taking unlawful advance  fees. The Court has appointed a Receiver who has suspended the companies operations. 

I am blindsided by this event and am deeply frustrated with Premier Student Loans for their dishonesty.

Company response to consumer: Untimely response