Consumer complaint received 2019-06-08
Product: Student loan — Federal student loan servicing
Issue: Incorrect information on your report — Information is missing that should be on the report
Company: AES/PHEAA (TX)

I checked my credit report and noticed that my student loan carrier ( U.S. Dept of Education ) has not reported my payments since XX/XX/2019. This is something that happens regularly where they take months to report information to the credit bureaus. This causes me to lose points on my credit score because it looks like I am not paying monthly and on time. 

I also want to complaint about the USDE reporting the interest on my loan, my loan increasing every month because none of my payments are going towards my principle balance, and the USDE not reporting that I'm in a loan forgiveness program and the date I'm expected to completed ( rather than reporting what looks like I'm not in a Forgiveness program and have 25 years to go ). 

All of this that the USDE and every other student loan carrier is doing to our credit is ruining us. Not only are burdened and consumed with student loan debt, our livelihoods are being negatively affected by it, which causes entities like home loan providers to shy away from us. 

I work hard at building my credit score only to have the USDE take three points away every month because my loan amount keeps increasing and increasing significantly although I pay faithfully each month. This is wrong and policy, legislation, and procedures need to change. It's like we're being punished for getting student loans and it's going to last the rest of my life. 

Please guide me on what I can do. Who can I write or petition? What departments or offices can I write and call to change these policies and procedures so that I can enjoy SOME of my life. Because right now I feel like I went to college to get in debt and now spending the rest of my life paying for college. And because of this, I am completely against student loans and make sure I tell every High School student my story to scare them away from them. 

My loan is increasing {$65.00} each month in interest and it gets reported to the credit bureaus. I started out with a $ XXXX loan amount and now it is up to $ XXXX. How is this when I pay faithfully every month since graduation eight years ago? Why are they doing this to us? They're already XXXX XXXX XXXX' us with student loans. Now they're adding insult to injury and making sure we will never own homes, take vacations, and get credit cards and finance autos and personal loans at decent limits and rates. I regret the day I ever went to college. I grew up in low-income housing with a single parent and NO money for college. But all I'm doing is lining the pockets of Big Government. I feel like I'm still in low-income housing and being controlled by the government. This is nothing but a trap towards the poor and minorities to keep us from advancing from generation to generation. 

I have roughly seven years to pay my loan off under the Loan Forgiveness Program and Income Driven program. But according to my credit report, I have 25 more years to go. XXXX! And the payments increase as my income increase, which is why I don't look forward to raises or promotions. I'll be XXXX years old if I had to go the route of 25 years. What was I thinking to ever get involved with the government and believe the financial aide offices who convinced me that I was making an investment. 

My siblings didn't go to college. They just worked hard and made their way to the top. Some even make more money than I do and they don't have any student loan debt. Because of that, they have better credit scores, homes, and look like a low-risk to every credit-giving agency in the world. And those who don't make more than me and still rich because they don't owe any student loans and are able to enjoy the fruits of their labor, ( not having to work overtime and second jobs like I do ). They're married as well. But I'm afraid to marry because when I do, my loan repayment amount will increase. Yes, more punishment for wanting something more than the welfare, low-income housing, poverty, crime-ridden, and roach-infested environment I grew up in. XXXX only knew that I would end up right back where I started because of student loan debt and the practices of credit reporting by the loan carriers and government legislation and policy. 

We should be ashamed of ourselves as a country.