Consumer complaint received 2024-11-05 00:00:00
Product: Student loan — Private student loan
Issue: Struggling to repay your loan — Can't temporarily delay making payments
Company: MOHELA
State: WA

Complaint narrative:
Dear Sir/Madam, I am writing to formally file a complaint regarding my student loans that were taken out to attend XXXX XXXX . My experience with XXXX XXXX  and my loan servicer has been one of deceit, exploitation, and financial hardship, and I am seeking your assistance in resolving these issues. 

Summary of Events : In XXXX, I enrolled at XXXX XXXX  after being heavily influenced by their misleading advertising, which portrayed the school as a legitimate and reputable institution focused on specialized career training with high employment prospects. Their advertisements led me to believe that XXXX would provide me with the skills and credentials necessary to secure a well-paying career in my chosen field. I relied on these promises when deciding to attend and take on significant student loan debt. 

However, upon enrolling and completing my courses, I quickly realized that the quality of education and support provided by XXXX was far below what was advertised. The curriculum was subpar, and the job placement assistance was non-existent. Instead of equipping me with the career skills I was promised, I found myself struggling to find meaningful employment in my field, which caused severe financial strain. 

Despite my best efforts, the degree I was trying to earn from XXXX has not opened doors for me in the way that I was led to believe. In fact, many employers do not recognize XXXX as a reputable institution, and I now feel that my education was essentially a waste of time and money.

Loan Servicer Issues : In addition to the deceptive practices of XXXX, my student loan servicer has exacerbated my financial distress. Over the years, I was consistently steered into forbearance rather than being offered more appropriate options such as income-driven repayment plans or loan consolidation. The servicer often failed to provide clear information about repayment options, and I was left with little understanding of how to manage my loans. As a result, my loans have accrued a massive amount of interest, which has substantially increased my overall debt. 

Every time I reached out for help or clarification, I was either given incomplete or conflicting information. Instead of assisting me with managing my loans in a way that would have made sense financially, the servicers actions only contributed to my growing debt and financial instability. I have been stuck in a cycle of forbearance and accumulation of interest, with no clear path to repayment or loan forgiveness. 

Due to this massive burden of debt, I enlisted in the military to be able to use military assisstance on some of the loans just manage it. 

I believe that both XXXX XXXX  and the loan servicer have acted in bad faith, and I am now burdened with student loan debt that has spiraled out of control. I respectfully request that the Consumer Financial Protection Bureau investigate this matter and take appropriate action to rectify the financial harm caused to me. I am seeking relief in the form of loan forgiveness, interest reduction, and compensation for the financial distress that has resulted from these deceptive practices. 

Thank you for your time and consideration. I look forward to your prompt response and a fair resolution to my complaint.

Company response to consumer: Closed with explanation