Consumer complaint received 2018-11-19
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't get other flexible options for repaying your loan
Company: Lincoln Educational Services Corporation (NY)

I stareted Lincoln Tech school for XXXX on XX/XX/XXXX. Prior to that I met with their finacial advisor who worked on loans and ensure this was the best private loan. Throughout year long program i made monthly payments in addition to the school receiving grants for my account. During my last XXXX   things got tricky and I had to pay past due of 3 months which has been paid off now. Lincoln Tech, offers students a private loan with a company XXXX which is another balance outside of the school receiving federal payment, and my monthly fee to them. So fast forward to XX/XX/XXXX Im at my last month of the XXXX classes and stressed about tuition issues which Lincoln Tech pride themselves saying they will work with a student no matter what! I get sent into collections for XXXX loan that is XXXX!!! The worse part is I didnt even take my boards by the time I get thrown into collections. The Lincoln finacial department headed by Mr. XXXX has been a nightmare! In XX/XX/XXXX I pass my boards and is confronted with situation of not finding a job for a while. Lincoln Tech promised XXXX job opportunities for their students and that wasnt true most people had to find one through other means. In the spring I start working part time and start making payments on the XXXX loan that was placed in collections before I even passed my boards or graduate from the school. In order to make more money Ive decided to apply to XXXX school and one of the requirements is an official transcript from school that I attended. So I reach out to Lincoln finacial office and spoke with their lead person Mr. XXXX or XXXX Iexplain the situation, and how I feel that its not right to be thrown in collections with out installment options to receive official transcript. Mr. XXXX was very rude and immediately shut down anything that I had to say. How can this be for a school that wants referrals, and sell people the idea of working with them. It hasnt even been a year that Ive graduated to be thrown into collections. I feel its unjustified, very conniving, to mislead people to go to a school and be stuck at the end. Meanwhile there were other employees for example Mrs. XXXX who was willing to work with me. Im a student who isnt finacially fit to pay {$8000.00} to get a copy of my transcript to further my education in order to get out of debt. I was told I cant get my transcript even after I started making payments and offered to do payment plans. Mr. XXXX informed all his staff that this cant be done. When I called XXXX XXXX XXXX where Lincoln financial charged it off to discuss lowest payment that can be accepted because I dont have the job I thought Lincoln would help as per their career service I was denied what I can afford. As per the collection agency Lincoln Tech will  not go lower than XXXX to get my transcript which I cant afford and the XXXX program starts in XX/XX/XXXX my transcript is due before XX/XX/XXXX. When I called Lincoln corporate I was only given an unofficial transcript which isnt valid. Im sharing this frustrating, misled situation which many other alumni students are facing and are looking to bring light to! Lincoln Tech, tells prospective students they will work with you their finacial system is almost fraud, they overcharge, and just have you sign loan papers and at the end youre stuck and nobody wants to help. I contacted the school president XXXX XXXX and explained frustration she vowed to email me and speak to Mr. XXXX I was left waiting and never got a call back. After calling a corporate they sent an unofficial transcript which cant be accepted and Lincoln is aware of that. All Im looking for is to receive my official transcript and make payments on a lower reasonable settlement cost. I already started making the payments, but it seems Lincoln Tech and their finacial office doesnt care about the alumni students facing finacial hardships and burden from the XXXX tuition! Im very disappointed that this is the result. They have given official transcripts before Mr. XXXX is just refusing to do so even though Ive made payments on account.