Consumer complaint received 2024-09-14
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: Ascendium Education Group (VA)

I had reached out to ALL department in SCHOOLXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
regards to my student loan discrepancies. I have been in contact with the student loan servicing companies for the discrepancy on the account balances without any results. After reaching out to US Federal Student Aid office I had received a case number ( case number # XXXX ) XXXX, XXXX to resolve the discrepancy and I have received a form Loan Discharge Application : Forgery. I feel the form sent me to is incorrect and I am writing this letter to describe the details of my student loan in detail and the discrepancy with the loan disbursements and refund. I am trying to resolve this mystery for past several years. 

I had applied for a student loan to go to XXXX University to get an accounting degree. I was approved by the FEDERAL STUDENT AID ( XXXX ) for a total loan amount of {$21000.00}. I went to XXXX university in XXXX XXXX to XXXX XXXX. I only went to school for XXXX semesters and was not able to continue after that due to family reasons. As of writing this letter my student loan balance is {$81000.00} out of which Principal - {$73000.00} and Interest- {$7200.00}. I have attached a detail of the amount that was wired by the to my student account to pay for my 6 semesters at school. 

Total loan that was deposited to my student account was {$38000.00}. Out of this student loan total I was supposed to receive the excess loan after paying my school fees to my personal account for expenses. According to the transaction above I was supposed to receive {$4700.00}, {$2800.00}, {$2400.00}, {$4400.00}, {$4500.00} and {$4500.00} i.e. a total of {$23000.00} in refunds. But I only received the first 2 amount of refund i.e. {$4700.00} and {$2800.00} by check, that was mailed to my address and I had CASHED it. Other refund payments of {$2400.00}, {$4400.00}, {$4500.00} and {$4500.00} i.e. a total of {$16000.00} where send as direct deposit to my personal account ( I never gave my bank details to my school or loan processor ) which I NEVER RECEIVED and the school or the loan servicer ( XXXX XXXX ) does not have any information about the direct deposit refund, its tracking and its whereabouts. Till date I have received a total loan in a sum of {$22000.00}.

Problem PART II Throughout the years my loan has been passed through the hands of several loan providers/servicers and as of writing this letter I have a total loan balance of {$81000.00} out of which Principal - {$73000.00} and Interest - {$7200.00} according to the FEDERAL STUDENT AID office. Out of this said amount ( {$80000.00} ), I have 3 subsidized loans in a total of {$32000.00} and 3 Unsubsidized loans in a total of {$48000.00}. Which is serviced by XXXX different student loan service companies namely XXXX XXXX and XXXX. None of these loan servicing companies are able to either give the details of the actual loan, interest on the loan and the penalty and fees on these loans. 
As of writing this letter the balances with loan servicing companies is as follows 1. XXXX Servicing current balance {$46000.00} principal {$38000.00} and interest {$8300.00} 2. Aidvantage - current balance {$34000.00} None of the companies above have a single clue of how and where these amounts came from. After calling various different companies spending countless hours calling/talking on the phone, I have given up. I am aware of Unfair and deceptive student loan servicing practices and I feel the account balance has been duplicated and slapped with penalties, exorbitant fees and interest are added to my account. I have no clue what so ever to how my student loan has reached to these heights. 

As of writing this letter I am buried in letters from different federal agencies, Student Loan servicing companies, Credit management companies and collection agencies about my student loan which I never received. I would like the help from the FEDERAL STUDENT AID office to set the record straight about the loan amount I have RECEIVED i.e. {$22000.00}. I am able to start making the payment towards this amount and get this part of the student loan mystery handled and put this behind me to move on with my life.

Because of this student loan issues my life has fallen apart and I am in dire distress. My credit score has been affected drastically which is below 515 for last several years and I am not able to go back to school to finish my degree and get any other student loan because of the student loan defaults, home mortgage, Car loan, Credit cards or any other kind of financial assistance from any financial intuitions.