Consumer complaint received 2026-03-10 00:00:00
Product: Student loan — Private student loan
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: LendKey Technologies, Inc.
State: MI

Complaint narrative:
I am submitting a new complaint regarding the continued improper servicing of a private student loan serviced by LendKey Technologies , Inc . This complaint follows a previous CFPB complaint in which LendKey acknowledged that incorrect information had been provided to me regarding my forbearance eligibility. On XX/XX/XXXX, at approximately XXXX a.m., I spoke with a LendKey representative by phone after receiving an email suggesting I may have exhausted my forbearance eligibility. During that call, I was informed that all of my loans were currently in forbearance for the upcoming XX/XX/XXXX payment, that the servicer was not showing that I had exhausted my forbearance eligibility, and that if any limitation applied I may only need to make XXXX full payments before becoming eligible for forbearance again. I was also told that the prior conflicting email regarding my forbearance status may have been due to a manual system issue. Based on this information, I reasonably believed my loan remained protected under forbearance. Afterward, I was charged the full monthly payment for the loan. On XX/XX/XXXX, I submitted a formal forbearance request. On XX/XX/XXXX, that request was denied with the explanation that the borrower had exhausted the allowed months of forbearance. I contacted the company again to request clarification. On XX/XX/XXXX, I received a written response stating that the loan had permanently exhausted its lifetime XXXX forbearance allowance, that no additional forbearance was available, that in-school deferment was not permitted, and that refinancing was the only option. Because these statements directly contradicted the information I had previously received, I submitted a complaint to the Consumer Financial Protection Bureau. In response to that complaint, LendKey acknowledged that incorrect information had been provided to me and clarified that, under the loan agreement, the loan is eligible for up to XXXX months of forbearance granted in six-month increments. LendKey stated that my forbearance had been extended through XX/XX/XXXX and that XXXX months of forbearance would remain available after that date. Despite this response, the loan servicer still charged me the full monthly payment during months that should have been covered by forbearance. Because payments were collected during this time, the remaining available forbearance months should now reflect those payments and the available balance should be adjusted accordingly. After the prior CFPB complaint was closed, I requested additional forbearance based on the remaining months that LendKey itself stated were available. This request was again denied, with the company stating that the forbearance time had been exhausted. This is now the third instance in which the company has provided conflicting and inaccurate information regarding the forbearance eligibility for this loan. LendKey has stated in writing that the loan has remaining forbearance months available but has continued to deny requests and apply the loan terms inconsistently. As a full-time third-year medical student, the required monthly payment of approximately {$600.00} is not financially sustainable without the forbearance that the company itself confirmed is available under the loan agreement. I am requesting that the CFPB review the servicing of this account and require the servicer to apply the correct forbearance terms as outlined in the loan agreement and acknowledged in the companys prior CFPB response. I am also requesting correction of the loan account to reflect the proper forbearance period and clarification of the remaining months of eligibility. This issue reflects an ongoing pattern of inconsistent and inaccurate information provided by the servicer regarding the terms and protections associated with this loan.

Company response to consumer: Closed with non-monetary relief