Consumer complaint received 2018-12-14
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: AES/PHEAA (GA)

On XX/XX/XXXX, I made an online payment for {$920.00} for Loan Nos. XXXX, XXXX, XXXX, XXXX, XXXX, XXXX, and XXXX and directed XXXX  XXXX XXXX to make specific payments to each loan. I also made a payment to close out Loan No.XXXX. Because of an error the company made in failing to close out Loan No. XXXX  as directed, it misapplied payments to the 7 loans above by not taking out interest for each of the the payments to the other 7 loans. When the company went back to correct that error and adjust the payments to include interest on each of the seven loans, it applied the correct interest but not the correct principal to each of the loans. The total sum of what I requested to be paid was correct, but the individual payments to each loan was incorrect. In my last complaint, I had specifically asked that the company call me and dedicate a representative to work with me to resolve this matter. No one called, the company did not apply the original payments on these 7 loans as  requested, and when I called to speak to someone I was told it would take 30 days to resolve. This is unacceptable. The company should have had a representative call me so I could have work with that person to resolve any future errors associated with the initial error. I want the company to dedicate a representative to work with me to resolve this issue so that if it is not resolved properly, like it was not resolved properly after my last complaint, I will not have to call back and speak with a new representative and explain my story all over again. 

On XX/XX/2018, here is how I directed the {$920.00} payment to be applied to the 7 loans, and here is how the company ultimately applied the payments. Again, the TOTAL PAYMENT AMOUNT of {$920.00} was applied to the 7 loans, however, each individual loan payment was not allocated the way I requested. In addition, it is ONLY the PRINCIPAL on each loan that was not allocated properly ; the interest was applied properly. 

Loan No. XXXX : I directed the company to pay {$210.00} on this loan. The company applied {$31.00} to interest ( correct ) and applied XXXX to principal ( incorrect ). The principal payment should have been {$180.00}. {$180.00} + XXXX = {$210.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$100.00} on this loan. The company applied {$13.00} to interest ( correct ) and applied {$88.00} to principal ( incorrect ). The principal payment should have been {$91.00}. {$91.00} + {$13.00} = {$100.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$100.00} on this loan. The company applied {$14.00} to interest ( correct ) and applied {$90.00} to principal ( incorrect ). The principal payment should have been {$90.00}. {$90.00} + {$14.00} = {$100.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$160.00} on this loan. The company applied {$23.00} to interest ( correct ) and applied {$140.00} to principal ( incorrect ). The principal payment should have been {$140.00}. {$140.00} + {$23.00} = {$160.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$160.00} on this loan. The company applied {$19.00} to interest ( correct ) and applied {$150.00} to principal ( incorrect ). The principal payment should have been {$140.00}. {$140.00} + {$19.00} = {$160.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$85.00} on this loan. The company applied {$8.00} to interest ( correct ) and applied {$71.00} to principal ( incorrect ). The principal payment should have been {$76.00}. {$76.00} + {$8.00} = {$85.00} ( my directed amount ). 

Loan No. XXXX : I directed the company to pay {$80.00} on this loan. The company applied {$11.00} to interest ( correct ) and applied {$71.00} to principal ( incorrect ). The principal payment should have been {$68.00}. {$68.00} + {$11.00} = {$80.00} ( my directed amount ). 

I am asking two things : 1 ) That the company correct this error ASAP and NOT in 30 days. I like to make payments every two weeks, and I have been reluctant to may a payment since this debacle happened on XX/XX/XXXX because I don't want any more errors or misapplied payments on my account. 2 ) I want the company to have a representative CALL ME so I can work with that person in correcting future errors related to this issue.