Student loan -- Dealing with your lender or servicer -- Complaint #5906092
Complaint Overview
Complaint ID: 5906092
Company: Aes/Pheaa
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: New York
ZIP Code: 10027
Date Received: 2022-08-22T12:00:00-05:00
Date Sent to Company: 2022-08-22T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/2022 I logged in to myfedloan.org to view my loan information plan for repayment. These loans were automatically put on forbearance for COVID-19, and even though mandatory repayment is resuming they are not providing several pieces of crucial information about my loans. They do not provide the interest rate. It is listed as 0 %, which I understand is from the forbearance, but there is no information listing the actual interest amount. For each loan they list " IDR Forgiveness Payments Made '' listed at XXXX. The following message is provided in a help modal : " If your loan is on an Income-Driven Repayment ( IDR ) plan, this is an estimate of your forgiveness payments made, which will be validated as you approach forgiveness. For more information on forgiveness and the amount of payments needed, visit https : //studentaid.gov/manage-loans/repayment/plans/income-driven. '' This is not acceptable. It should be displaying each payment from the start, especially in light of loan servicers ' record of losing payment record and information. I can not find full terms for my Pay As You Earn ( PAYE ) plan on the website. I have only heard from third-party sources that forgiveness occurs at the end of the repayment term of 20 years, but I have to pay taxes on the forgiven amount as if it were income. Nowhere on the site tells me this, nor how much that amount could be. I can not calculate this myself either, as they have interest rates listed as 0 %. I have called the organization and been on hold for an average XXXX hours, only to have the call dropped 3 times.
Frequently Asked Questions
What is Complaint #5906092 about?
Complaint #5906092 was filed against Aes/Pheaa regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2022-08-22T12:00:00-05:00.
How did Aes/Pheaa respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Aes/Pheaa?
Yes, visit the Aes/Pheaa company profile at readthecomplaint.com/company/aes-pheaa to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.