Consumer complaint received 2015-05-19
Product: Student loan — Non-federal student loan
Issue: Dealing with my lender or servicer — Having problems with customer service
Company: KEYCORP (KY)

I have been diffuculty paying {$600.00} a month of ontime payments to XXXX private student loan, from Key Bank, for nearly 6 years now. I pay $ XXXX monthly in total student loans. Last year, I came under a hard ship and begged for assistance from Key Bank to no prevail. They suggested and harrased that I should not pay my rent and other essential bills to get caught up on their payment. They called daily and threatened me and my cosigner ( who just had a baby and could not assist ) that they demanded payment. I asked for them to lower my payment to a more reasonable amount and they would laugh and hang up on me. I then would call and ask for time to get caught up on my payments. I would call and beg for assistance and finally contacted someone with a heart. They offered a short term deferment and let me go two months with out payment, but interest still incurred. I found out quickly that the derferment that was promised was never processed I nearly defaulted. I again was promised a two month derferment to bring my accountaccount to only 2 months past due. I had to fax over paperwork XXXX times because the paperwork kept going missing or was not processed correctly. During this time I contacted key bank daily and begged for assistance but they only demanded payment. I went to many key bank locations and talked to many branch managers who said it was wrong what they were doing to me, but none could offer assistance. Finally, XXXX branch manager gave me XXXX XXXX 's ( CEO ) corporate phone number and said to call and explain what had happened. I called and was given to a customer care specialist who listened to what had happened. They saw that I made years of on time payments, but their only suggestion was to default on part of the loan instead of the entire thing. Luckily, in that time I was promoted and received some assistance from a family member to make nearly a {$3000.00} payment to bring my account current days before the loan defaulted. Key Bank has never been helpful and has been down right rude when it comes to their student loan department. They no longer service student loans so the only people you can talk to regarding them work over seas and will hang up on you regularly. There is no such thing as customer service at Key Bank. Especially, if they know that they have you by the throat with a signed promisnary note. I 've never asked to not pay this student loan and understand I am liable for the remaining balance. However, I needed assistance and was given a run around to be threatened and hung up on multiple times. In sum, I learned that there is no assistance with my private student loan that I pay nearly {$7000.00} in annual interest on even during a dire hardship. Even if I have years of on time payments. In the end I only had more stress and a huge hit on my cosigner 's and my own credit. I pray that I continue doing well and can make on time payments because dealing with Key Bank is worse than anything I have ever done before. When I read what best describes my issue the ca n't repay my loan and dealing with the service both are what wrong.