[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Complaint ID: [redacted]
Great Lakes ID: [redacted]
Dear
Mr....
[redacted]:
Thank
you for contacting us on behalf of Ms. [redacted] and for providing us the
opportunity to address her concern in regard to her request to remove the
derogatory credit reporting previously done by Great Lakes.
The
Higher Education Act of 1965 requires that Great Lakes report the status of all
serviced student loan accounts to the nationwide Credit Reporting Agencies.
Additionally, the Fair Credit Reporting Act requires that this information is
reported accurately and objectively. We are audited to ensure our compliance
with these requirements.
Upon
receiving Ms. [redacted]’s request for an adjustment to the data we reported on
her student loan account, we re-evaluated our past reporting to ensure no errors
were made that would lead to, or result in, inaccurate delinquency reporting
(such as misapplication of payments). No such errors were made.
Regrettably,
because the credit reporting done on Ms. [redacted]’s accounts is accurate, we
are unable to make any adjustments to it. We recommend that she proactively
seek assistance options from us anytime she is in need of repayment assistance
in the future, as this could prevent future negative credit reporting.
Myfico.com
indicates that individuals who were delinquent in the past are able to improve
their FICO score by paying their loans on time, and the longer an individual
pays on time, the more their FICO score should increase. Although we are unable
to remove our past adverse credit reporting, I am happy to confirm that we have
been reporting both of her accounts as current since December 2013.
I
understand that this is not the answer Ms. [redacted] was hoping for and
apologize for any frustration this experience has caused her. If she has any
additional questions or concerns about the repayment of her loans, she may
contact our Borrower Services Department by calling ###-###-####, emailing
[redacted], or by mailing:
Thank you for contacting us on behalf of Ms. Diana
[redacted] and for providing us the opportunity to address her concerns. We understand Ms. [redacted]’s concerns to be
regarding the application of her September 06, 2016 payment of $3,000, the
separation of her loan account, and the processing time...
for her refund
request. To begin, we sincerely apologize to Ms. [redacted] for the
frustration she has experienced while trying to get her payment applied to the
appropriate loan or refunded back to her.
At Great Lakes we strive to provide quality customer service to all of
our customers while adhering to the applicable regulations and loan
agreements. At this time, we can confirm that Ms. [redacted]’s loan
account has been separated by token number, as she requested, and this has
allowed us to reapply her September 6, 2016 $3,000 payment entirely towards
token number 816 as she intended. With regard to Ms. [redacted]’s concerns over the
processing time of her previous refund requests; the first request was not
approved because we wanted to make sure she first attempted to contact her bank
to reverse the transaction, which is normally faster than the processing time
for a refund request. There is a sequence of events that needed to happen prior
to applying the monies to the specific token she requested her payment to be
applied. Since we were able to apply Ms. [redacted]’s payment as
originally intended, if she prefers to have her payment refunded, we ask that
she contact a Specialized Account Manager directly using the information listed
below to initiate the refund process. It is important for Ms. [redacted] to
understand that the average processing time for a refund is approximately 4
weeks. We a sincerely apologize for the frustration Ms.
[redacted] has experienced and hope the information provide resolves her concern. If
she has additional questions or concerns, she may contact a Specialized Account
Manager directly by phone at ###-###-####, option 1 (please note that some calls may be monitored and recorded for quality
assurance purposes), by email at [redacted], or by mail to: [redacted]
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the paid ahead status on her student loan account with the U.S. Department of Education (ED), as she believes it has not been applied to her principal balance.Ms....
[redacted]’s loan is a federal loan. As such, Great Lakes, as her servicer, is contractually obligated to abide by all federal guidelines set forth by ED, which is important to note because payment application is outlined within those guidelines.Ms. [redacted]’s federal loan is a simple interest loan; meaning interest accrues daily based on her interest rate and principal balance. The calculation used to determine the amount of interest that accrues per day is as follows:Unpaid Principal Balance x Interest Rate x Number of Days at that BalanceDivided by365 or 366 (Days in a Year)The federal guidelines require loan servicers to apply regular monthly payments made towards a federal loan first to any late charges (if applicable), then to accrued interest, and then the remainder, if any, is prorated and applied to the principal balance of the loans within the account. If a payment is larger than the regular monthly payment, the overpayment is applied to the principal of the loan with the highest interest rate, assuming all outstanding accrued interest is paid.When extra payments are received they will be applied in this same manner. Provided the regular monthly payment amount has already been made. Please note that all accrued interest must first be paid prior to any payment amount being directed toward the principal balance.Making extra payments, or overpayments, generally results in a borrower’s loan being “paid ahead.” This paid ahead status does not affect how their payments are applied, which is as described above as of the date the payment is received. Instead, it means that a borrower won’t be considered delinquent if they stop making payments until they are no longer paid ahead. It is important for Ms. [redacted] to realize that she is still reducing her principal balance with the payments she is making in excess of her normal monthly payment, which appears to be her intention. With this in mind, we reviewed her account and were able to confirm that her payments were applied in this manner. So that she may confirm this information, we have attached a payment history per loan within her account.Additionally, it is equally important for Ms. [redacted] to remember that even if she is paid ahead of her current payment schedule and technically not required to make a payment, interest does continue to accrue, so it is to her advantage to continue making monthly payments. There are no prepayment penalties. By making payments in addition to her monthly payment, she will reduce her principal balance faster. Correspondingly, a lower principal balance means less interest will accrue, which will ultimately save her more money over the life of her loan.We hope the information provided resolves Ms. [redacted]’s concern. If she has additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,[redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted] ...
Dear
Mr. [redacted]:
Thank
you for contacting us on behalf of Mr. [redacted] and for providing us the
opportunity to address his concern in regard to the application of his April
20, 2015 payment.
I
am happy to advise that Mr. [redacted]’s payment has now been applied as he
originally intended. All portions of his loans that were previously at a 6.8%
interest rate have been satisfied.
I
apologize for the frustration Mr. [redacted] has experienced and hope the
information provided alleviates his concern. If he has any questions or
concerns, he may contact our Borrower Services Department at ###-###-####,
[redacted], or the address below:
Thank you for contacting us on behalf of Mr. Kevin [redacted] and for providing us theopportunity to address his concern regarding the incentive he lost, which increased the balance ofhis Stafford loan with the U.S. Department of Education (ED).As a federal loan servicer, our primary goal is to...
assist our borrowers with meeting their loanobligation in any way that we can. However, while we service these loans, please keep in mindthat we are required to comply with all federal guidelines set forth by ED, as well as the terms andconditions of a borrower’s Master Promissory Note, or loan agreement. Repayment terms,deferment and forbearance options, loan forgiveness, payment allocation, as well as incentivesoffered are determined by either the federal guidelines or the borrower’s loan agreement.The incentive Mr. [redacted] is referring to is a principal balance reduction that was applied tohis loan when ED initially disbursed it to his school. In order to retain this incentive, a borrowermust make their first 12 monthly payments on time, or within six days of their due date. If allpayments are not received during that time frame, the amount that was originally reduced from theprincipal balance upon disbursement is added back to the borrower’s principal balance.After reviewing Mr. [redacted]’s account, we verified that the incentive was removed inaccordance with the incentive guidelines. His first payment was due December 9, 2014, but wasnot received until January 26, 2015, which was outside the required six day time frame referencedabove. As a result, the principal balance reduction initially removed from his account wasreapplied. Unfortunately, we do not show a phone conversation occurring between Mr.[redacted] and Great Lakes in November 2014, as referenced in his complaint.We understand that this may not be the answer Mr. [redacted] was hoping for and apologize forany frustration he has experienced. If he has any questions or concerns, he may contact ourBorrower Services Department at ###-###-####, [redacted], or the addressbelow:[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Stephen [redacted]
Thank you for contacting us on behalf of Mr. [redacted] and for providing us the opportunity to address his concern regarding his...
Consolidation loan that we service for the U.S. Department of Education (ED). Mr. [redacted]’s concern, as I understand it, is that he asserts his loan should not be in repayment at Great Lakes because it was discharged due to Total and Permanent Disability (TPD) in late 2013.Upon receiving Mr. [redacted]’s concern, we reviewed our records to verify whether or not we have received a recall request from [redacted], ED’s TPD servicer, to transfer his loan back to them so it can be placed back into its discharged status. Unfortunately, our records did not reflect that we received the request he referenced [redacted] sent to us to recall his loan. As a result, we contacted [redacted] to confirm the date they sent the initial recall request. In response, [redacted] advised the reason Mr. [redacted]’s loan was reinstated is because he did not return the required income documentation necessary for them to review and confirm he still met the TPD discharge’s eligibility requirements. They also advised the following events occurred:November 17, 2014 – [redacted] sent the initial letter requesting Mr. [redacted] to provide current income documentation. They stated that this same request was sent two additional times, once at the end of December, and the second at the end of January.March 24, 2015 – Mr. [redacted] provided the required income documentation; however, [redacted] did not finish processing it until August 2015.July 9, 2015 – Mr. [redacted]’s loan was reinstated and transferred to Great Lakes.August 10, 2015 – [redacted] finished processing the income documentation and verified Mr. [redacted] still met the TPD discharge’s eligibility requirements. Subsequently, they sent a recall request to Great Lakes.November 10, 2015 – Great Lakes contacted [redacted] to verify whether or not a recall request was previously sent and to request that it be sent again.November 11, 2015 – [redacted] sent a second recall request, which I can confirm has been received and processed by Great Lakes.Page 2 – Complaint #10940079Unfortunately, since [redacted] uses multiple methods to send their recall requests, we were unable to identify the reason we didn’t receive the August 10, 2015 recall request. However, now that it has been confirmed that Mr. [redacted] qualifies for the TPD discharge, his loan is in the process of transferring back to [redacted]. This should be complete within the next 7 to 10 business days. In the meantime, if Mr. [redacted] has any questions or concerns regarding the transfer of his loan or TPD in general, he may contact [redacted] at ###-###-####, between 7am – 7pm CT, 7 days a week, or visit www.disabilitydischarge.com.I apologize for any frustration this experience has caused Mr. [redacted], but I do hope that the information provided alleviates his concern. If he has any additional questions or concerns unrelated to TPD, prior to the transfer of his loan, he may contact our Borrower Services Department by phone at ###-###-####, through email at [email protected], or by mailing:Great Lakes[redacted]
Thank you for contacting us on behalf of Mr. Jason [redacted] and for providingus the opportunity to address his concern regarding the information reported to thenationwide Consumer Reporting Agencies (CRAs) by Great Lakes on his student loanaccount with the U.S. Department of Education (ED)....
According to his inquiry, he statesthat Great Lakes has not reported that payments have been made toward his accountsince March 2016.In order to fully address Mr. [redacted]’s concern, we must first mention that theHigher Education Act of 1965, as amended, requires Great Lakes to report the status ofall serviced student loan accounts to the nationwide CRAs. Additionally, the Fair CreditReporting Act requires this information be reported accurately and objectively. Pleasealso note that Great Lakes is audited to ensure our compliance with these requirements.Upon receiving Mr. [redacted]’s inquiry, we reviewed his account and confirmedthat all information reported to the CRAs on his behalf is accurate. Included within theinformation reported to the CRAs, (which we send on a monthly basis for all borrowers),is the date and amount of payment he made that month. Such information has beenreported toward Mr. [redacted]’s credit files at the end of each month since webegan servicing his loan in May 2013.However, if Mr. [redacted] believes that the aforementioned information is notreflected on his credit report, we ask that he please submit a copy of his credit report tous using the email or mailing address listed below, or fax it to ###-###-####, for review.Additionally, we are pleased to add that while during our reviewing Mr. [redacted]’saccount, we discovered an opportunity to reinstate his rebate incentive, whichhe previously lost due to one of his initial 12 payments being made more than six daysafter his monthly payment was due. The rebate incentive allows a six day grace periodand if any payment was made outside that time frame, the rebate incentive is lost.However, we were able to reinstate his rebate incentive and his principle balance hasbeen reduced $10.00.We hope that Mr. [redacted] finds the information provided helpful. If he hasadditional questions or concerns, he may contact our Borrower Services Department byphone at ###-###-#### (Please note that some calls may be monitored and recordedfor quality assurance purposes), by email at [redacted], or by mail tothe address below:Great Lakes[redacted]
Thank you for your follow up in conjunction with Ms. [redacted]’s original complaint and subsequent rebuttals. Within Ms. [redacted]’s most recent rebuttal, she asserts that in December 2014, when she originally realized her loans with Great Lakes were excluded from her consolidation, she faxed Great Lakes a consolidation add-on form to include the aforementioned loans.Regrettably, Great Lakes has no record of the fax Ms. [redacted] referenced. Even though a confirmation number is provided, there are numerous reasons a fax could still fail. The confirmation number Ms. [redacted] was initially provided upon sending the document may confirm the opening facet of the fax process was successful, but it does not provide confirmation the document was received by Great Lakes, the intended party. For this reason, to prevent such issues from occurring, we recommend that borrowers follow up with our Borrower Services Department after sending documents to confirm their receipt.Correspondingly, Great Lakes does not have the ability, using the confirmation number provided by the fax machine Ms. [redacted] sent her consolidation add-on form from, to identify or determine the reason her December 2014 fax failed to be successfully transmitted and received. Please know that if it was possible to determine this information, as Great Lakes’ primary goal is to assist our borrowers with the repayment of their loan(s) in any way we can, we would have done everything in our ability to rectify Ms. [redacted]’s issue.Moving forward, as previously referenced, Ms. [redacted] would need to perform a new consolidation to add the loans excluded from her original consolidation. For additional information on doing a new Direct Loan consolidation, she may call ###-###-#### or visit www.studentloans.gov.Should Ms. [redacted] have any questions or concerns regarding the information provided, she may contact our Borrower Services Department by phone at ###-###-####, through email at [redacted], or by mailing:[redacted]
[redacted]
[redacted]Sincerely,[redacted]Great Lakes Education Loan Services, Inc.
Thank you for contacting us on
behalf of Ms. [redacted] and for providing us the opportunity to address
her concern regarding the application of payments toward her Direct
Consolidation Loan that we service for the U.S. Department of Education (ED). Additionally,
she is requesting...
documentation illustrating how her payments are being applied
toward her accrued interest balance. After receiving Ms. [redacted] inquiry, we reviewed our records and confirmed that
on October 4, 2016, she filed a similar complaint with the Consumer Financial
Protection Bureau, which we are currently in the process of addressing and
responding to. It is important to note that due
to the complexity of Ms. [redacted]’ concern, extensive research is currently
being completed in order to ensure that it is thoroughly addressed.
Unfortunately, this research is still underway. Therefore, we are unable to provide
a detailed response at this time. However, she can expect to receive our
detailed response to her CFPB complaint on or before October 19, 2016. We apologize to Ms. [redacted] for
the delay in providing a response to her concern, and ask that if she has
additional questions or concerns that she contact a Specialized Account Manager
directly by phone at ###-###-####. She may also contact our Borrower Services
Department by phone at ###-###-#### (please
note that some calls may be monitored or recorded for quality assurance
purposes), by email at [email protected], or by mail to: Great Lakes [redacted]
[redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted]
Dear
Mr. [redacted]:
Thank
you for again contacting us on behalf of Mr. [redacted] and for providing
us the opportunity to address his additional concerns which are, as we
understand them, as follows:
He is requesting $96 in overdraft
fees refunded to him.
He is requesting his loan to be
transferred to a different servicer.
Issue 1: Refund of
Overdraft Fees
Great
Lakes is willing to review the overdraft fees Mr. [redacted] stated he incurred
upon receipt of any of the following types of correspondence:
A copy of his bank statement
showing the payment pulled by Great Lakes which caused the overdraft fee.
The date and the amount of the
payment pulled by Great Lakes.
The date and the amount of the overdraft
fee which he incurred.
His accounts balance before and
after the overdraft fee was applied.
Please
note, for Great Lakes to accept this verification of the fee assessed by Mr.
[redacted]’ bank, he must write his financial institution’s routing number and
account number on the statement. He may attach of copy of his bank statement and
email it to the email address provided below, fax a copy of it to ###-###-####, or mail a copy of it to:
Great Lakes
[redacted]
[redacted]
Additionally,
we request that Mr. [redacted] include his Great Lakes ID ([redacted]) with any
documentation he sends in so we can match it to the correct account.
Issue 2: Loan
Transfer
As
part of Mr. [redacted]’ desired outcome, he requested his loan be transferred
elsewhere for servicing. Great Lakes is unable to transfer his loan upon
request because his lender, the U.S. Department of Education (ED), decides who
the servicer of their student loan accounts are. However, ED does allow a borrower
to choose their servicer if they consolidate their loans. As such, Mr. [redacted]
would need to visit www.studentloans.gov
for additional information on consolidation or to apply.
I again
apologize to Mr. [redacted] for the frustration he has experienced. I hope he
finds the information provided helpful. If he has any additional questions or concerns, he may contact
our Borrower Services Department by phone at ###-###-####, by email at [redacted], or by
mail to the aforementioned address.
Sincerely,
Aimee S[redacted]
[redacted] [redacted]
Great Lakes Educational Loan Services, Inc.
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding Great Lakes’ credit reporting, which she would like updated based on the in-school deferment recently placed on her account.Upon receiving Ms. [redacted]’s inquiry, we...
reviewed her account and confirmed that she is currently in an in-school deferment. The deferment was applied based on the documentation she provided us on April 18, 2016. The deferment is currently on file from January 11, 2016 to May 12, 2018, according to the dates her school certified on the aforementioned documentation. However, it’s important for Ms. [redacted] to understand that the dates of the deferment are dependent on her enrollment status and can change if she were to fall below a half-time student status.Since the deferment was applied to Ms. [redacted]’s account retroactively to January 11, 2016, we have sent a request to the nationwide Credit Reporting Agencies (CRAs) to remove the delinquency reported on March 31, 2016. Hopefully the CRAs will promptly display this change on her credit files. Please note that each individual agency determines when the adjusted data will be displayed on her credit files.I apologize for any frustration Ms. [redacted] experienced and hope the information provided resolves her concern. To prevent similar issues from transpiring, we ask Ms. [redacted] to please update us if her enrollment status changes in the future. Additionally, if she has any questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [redacted], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,[redacted]
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted] ...
Dear
Mr. [redacted]:
Thank
you for contacting us on behalf of Mr. [redacted] and for providing us the
opportunity to address his concern in regard to the in-school deferment being
placed on his U.S. Department of Education (ED) Stafford and Consolidation
student loan accounts.
The
most recent information we received from Mr. [redacted]’s school, [redacted], indicated a withdraw date effective December 11, 2014. His school
certified this information on March 3, 2015. Mr. [redacted]’s account activity
indicates that he updated his enrollment information to show that he is currently
attending the Manatee-Sarasota campus of the State College of [redacted]
full-time, effective January 1, 2015 through May 31, 2016.
Typically,
schools update enrollment information four to six weeks after classes begin. Unfortunately,
his current school has not certified this information which is preventing us
from updating his account and placing it into the school deferment. Attached is
the most recent school enrollment information that his current and previous
schools have submitted to the National Student Loan Data System (NSLDS), ED’s
central repository that houses all federal loan information.
Mr.
[redacted] is encouraged to complete the attached school deferment application so
that the deferment can be applied to his account. So that he is aware, section
four of the application must be completed by an authorized official at his
school. He may also request his school to report updated enrollment information
to NSLDS, so that we may retrieve the information electronically and apply the
deferment to his accounts.
Once
certified enrollment verification is received, Mr. [redacted]’s request for
deferment will be evaluated, and he will be advised of any change to the status
of his accounts. Mr. [redacted] needs to be aware that he is responsible for the
monthly payments as scheduled, until he receives notification of a deferment being
approved. If a deferment is approved, it will be applied retroactively to date he
began attending classes as at least half-time student, as provided by his
school. He will receive an interest adjustment on his subsidized loan balances
at that time.
Since
Mr. [redacted] referenced his grace period, it is important for him to realize
that ED, his lender, allows only one 6 month grace period during the lifetime
of a loan. Once this grace period has been utilized, the loan(s) will enter
repayment status once a school deferment period has ended. Additionally, this
fact is significant because he has a Consolidation loan, and they do not receive
a grace period after a school deferment period has ended.
If
Mr. [redacted] would like to decrease or postpone payments until we are able to
update his school enrollment information, there are other assistance options he
may explore. We would be happy to work with him to find an option that will
work best for his situation. To discuss these options, he may contact our
Borrower Services Department at the number or email address provided below
Monday through Friday, between 7am – 9pm CT. He may also visit our website, www.mygreatlakes.org, which
provides detailed information and tools that can help him determine the best
option for his situation.
I
hope that Mr. [redacted] finds the information provided helpful and apologize for
the frustration he has experienced. If he has any questions or concerns he may
contact our Borrower Services Department at ###-###-####,
[redacted], or the address below:
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the credit reporting we have done toward her student loan accounts, which we service on behalf of the U.S. Department of Education (ED).To begin, we must first note that...
the Higher Education Act of 1965 requires Great Lakes to report the status of all serviced student loan accounts to the nationwide Credit Reporting Agencies (CRAs). Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectively. It’s also important to note that we are audited to ensure our compliance with these requirements.With this in mind, we reviewed Ms. [redacted]’s account to verify the accuracy of the information we reported toward her credit files, and to ensure no errors were made that would lead to, or resulted in, inaccurate delinquency reporting (such as misapplication of payments). According to our records, the delinquencies that were reported toward Ms. [redacted]’s accounts occurred between June 2013 and November 2013.According to the National Student Loan Data System (NSLDS), ED’s central repository that houses all federal student loan information, Ms. [redacted] was not in school at the time the aforementioned delinquencies were reported toward her accounts. The enrollment information Ms. [redacted]’s schools reported to NSLDS indicates that she withdrew from National American University on October 8, 2012, and that she did not start school again until July 1, 2015, at Strayer University. Because of this, Ms. [redacted]’s accounts were correctly placed into repayment after her grace period, which was on file from October 9, 2012 through April 8, 2013.In addition to the aforementioned points, we also confirmed that all of the information we reported to the CRAs, on behalf of Ms. [redacted], was accurate. Regrettably, for the reasons mentioned above, even though we empathize with Ms. [redacted]’s situation, we are unable to make any adjustments to our past credit reporting.We understand that this is not the answer Ms. [redacted] was hoping for and apologize for the frustration she has experienced. If she has any questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,
Thank you for contacting us on behalf of Mr. [redacted]
and for providing us the opportunity to address his concern regarding the
forbearance which had applied to his U.S. Department of Education (ED) Stafford
Loan, primarily in relation to his Auto Pay interest rate incentive. To...
address Mr. [redacted]’s concerns in the most effective and
efficient manner, a Specialized Account Manager reached out to him by phone on
March 10, 2017. Immediate action was taken to remove the forbearance and
reinstate Mr. [redacted]’s previous payment schedule. Reinstating his previous
payment schedule allows his account to reflect a continuous repayment status
since December 23, 2015. As a result, his Auto Pay interest rate incentive was
not interrupted. His accrued interest has been adjusted accordingly. Because Mr. [redacted] indicated he had unchecked the box meant
to apply the forbearance when a borrower intends to complete the online
application for consolidation, we have also forwarded the information for
review to ensure nothing systematic caused the forbearance to apply. We apologize for any frustration he has experienced and
hope the information provided is helpful. If he has any questions or concerns,
he may contact our Borrower Services Department by phone at ###-###-####, by
email at [email protected], or by mail to the address below: Great Lakes P.O. Box 7860 Madison, WI 53707
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Thank you for your follow up on behalf of Benita [redacted] regarding the application of herexcess funds paid toward her student loan account.Based on the total monthly payment required ($181.62) and Ms. [redacted] paymentssubmitted in the amount of $200, she was paying an excess amount of $18.38 eachmonth. We have verified that the paid ahead amounts listed on her billing statementscorrelate with the additional $18.38 each month.Our review of Ms. [redacted] account further verified that each of her payments that includedexcess funds of $18.38 have been redirected as she requested. We have included adetailed payment history for Ms. [redacted] to review, which confirms the application of herpayments.We understand this may not be the answer Ms. [redacted] was hoping for and apologize forany frustration she has experienced. If she has any questions or concerns, she maycontact our Borrower Services Department by phone at ###-###-####, by email at[redacted], or by mail to the address below:Great Lakes[redacted]
[redacted]
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
May 21, 2015
[redacted]
[redacted]
[redacted]
[redacted]
[redacted] [redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted]
Dear
Mr....
[redacted]:
Thank
you for contacting us on behalf of Ms. [redacted] and for providing us the
opportunity to address her concern in regard to her request to remove the
derogatory credit reporting previously done by Great Lakes.
The
Higher Education Act of 1965 requires that Great Lakes report the status of all
serviced student loan accounts to the nationwide Credit Reporting Agencies.
Additionally, the Fair Credit Reporting Act requires that this information is
reported accurately and objectively. We are audited to ensure our compliance
with these requirements.
Upon
receiving Ms. [redacted]’s request for an adjustment to the data we reported on
her student loan account, we re-evaluated our past reporting to ensure no errors
were made that would lead to, or result in, inaccurate delinquency reporting
(such as misapplication of payments). No such errors were made.
Regrettably,
because the credit reporting done on Ms. [redacted]’s accounts is accurate, we
are unable to make any adjustments to it. We recommend that she proactively
seek assistance options from us anytime she is in need of repayment assistance
in the future, as this could prevent future negative credit reporting.
Myfico.com
indicates that individuals who were delinquent in the past are able to improve
their FICO score by paying their loans on time, and the longer an individual
pays on time, the more their FICO score should increase. Although we are unable
to remove our past adverse credit reporting, I am happy to confirm that we have
been reporting both of her accounts as current since December 2013.
I
understand that this is not the answer Ms. [redacted] was hoping for and
apologize for any frustration this experience has caused her. If she has any
additional questions or concerns about the repayment of her loans, she may
contact our Borrower Services Department by calling ###-###-####, emailing
[redacted], or by mailing:
[redacted]
[redacted]
[redacted]
Sincerely,
[redacted]
[redacted]
[redacted]
Thank you for contacting us on behalf of Ms. Diana
[redacted] and for providing us the opportunity to address her concerns. We understand Ms. [redacted]’s concerns to be
regarding the application of her September 06, 2016 payment of $3,000, the
separation of her loan account, and the processing time...
for her refund
request. To begin, we sincerely apologize to Ms. [redacted] for the
frustration she has experienced while trying to get her payment applied to the
appropriate loan or refunded back to her.
At Great Lakes we strive to provide quality customer service to all of
our customers while adhering to the applicable regulations and loan
agreements. At this time, we can confirm that Ms. [redacted]’s loan
account has been separated by token number, as she requested, and this has
allowed us to reapply her September 6, 2016 $3,000 payment entirely towards
token number 816 as she intended. With regard to Ms. [redacted]’s concerns over the
processing time of her previous refund requests; the first request was not
approved because we wanted to make sure she first attempted to contact her bank
to reverse the transaction, which is normally faster than the processing time
for a refund request. There is a sequence of events that needed to happen prior
to applying the monies to the specific token she requested her payment to be
applied. Since we were able to apply Ms. [redacted]’s payment as
originally intended, if she prefers to have her payment refunded, we ask that
she contact a Specialized Account Manager directly using the information listed
below to initiate the refund process. It is important for Ms. [redacted] to
understand that the average processing time for a refund is approximately 4
weeks. We a sincerely apologize for the frustration Ms.
[redacted] has experienced and hope the information provide resolves her concern. If
she has additional questions or concerns, she may contact a Specialized Account
Manager directly by phone at ###-###-####, option 1 (please note that some calls may be monitored and recorded for quality
assurance purposes), by email at [redacted], or by mail to: [redacted]
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the paid ahead status on her student loan account with the U.S. Department of Education (ED), as she believes it has not been applied to her principal balance.Ms....
[redacted]’s loan is a federal loan. As such, Great Lakes, as her servicer, is contractually obligated to abide by all federal guidelines set forth by ED, which is important to note because payment application is outlined within those guidelines.Ms. [redacted]’s federal loan is a simple interest loan; meaning interest accrues daily based on her interest rate and principal balance. The calculation used to determine the amount of interest that accrues per day is as follows:Unpaid Principal Balance x Interest Rate x Number of Days at that BalanceDivided by365 or 366 (Days in a Year)The federal guidelines require loan servicers to apply regular monthly payments made towards a federal loan first to any late charges (if applicable), then to accrued interest, and then the remainder, if any, is prorated and applied to the principal balance of the loans within the account. If a payment is larger than the regular monthly payment, the overpayment is applied to the principal of the loan with the highest interest rate, assuming all outstanding accrued interest is paid.When extra payments are received they will be applied in this same manner. Provided the regular monthly payment amount has already been made. Please note that all accrued interest must first be paid prior to any payment amount being directed toward the principal balance.Making extra payments, or overpayments, generally results in a borrower’s loan being “paid ahead.” This paid ahead status does not affect how their payments are applied, which is as described above as of the date the payment is received. Instead, it means that a borrower won’t be considered delinquent if they stop making payments until they are no longer paid ahead. It is important for Ms. [redacted] to realize that she is still reducing her principal balance with the payments she is making in excess of her normal monthly payment, which appears to be her intention. With this in mind, we reviewed her account and were able to confirm that her payments were applied in this manner. So that she may confirm this information, we have attached a payment history per loan within her account.Additionally, it is equally important for Ms. [redacted] to remember that even if she is paid ahead of her current payment schedule and technically not required to make a payment, interest does continue to accrue, so it is to her advantage to continue making monthly payments. There are no prepayment penalties. By making payments in addition to her monthly payment, she will reduce her principal balance faster. Correspondingly, a lower principal balance means less interest will accrue, which will ultimately save her more money over the life of her loan.We hope the information provided resolves Ms. [redacted]’s concern. If she has additional questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,[redacted]
May 22, 2015
[redacted]
[redacted]
[redacted]
[redacted]
[redacted] [redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted] ...
Dear
Mr. [redacted]:
Thank
you for contacting us on behalf of Mr. [redacted] and for providing us the
opportunity to address his concern in regard to the application of his April
20, 2015 payment.
I
am happy to advise that Mr. [redacted]’s payment has now been applied as he
originally intended. All portions of his loans that were previously at a 6.8%
interest rate have been satisfied.
I
apologize for the frustration Mr. [redacted] has experienced and hope the
information provided alleviates his concern. If he has any questions or
concerns, he may contact our Borrower Services Department at ###-###-####,
[redacted], or the address below:
[redacted]
[redacted]
[redacted]
Sincerely,
[redacted]
[redacted]
[redacted]
Thank you for contacting us on behalf of Mr. Kevin [redacted] and for providing us theopportunity to address his concern regarding the incentive he lost, which increased the balance ofhis Stafford loan with the U.S. Department of Education (ED).As a federal loan servicer, our primary goal is to...
assist our borrowers with meeting their loanobligation in any way that we can. However, while we service these loans, please keep in mindthat we are required to comply with all federal guidelines set forth by ED, as well as the terms andconditions of a borrower’s Master Promissory Note, or loan agreement. Repayment terms,deferment and forbearance options, loan forgiveness, payment allocation, as well as incentivesoffered are determined by either the federal guidelines or the borrower’s loan agreement.The incentive Mr. [redacted] is referring to is a principal balance reduction that was applied tohis loan when ED initially disbursed it to his school. In order to retain this incentive, a borrowermust make their first 12 monthly payments on time, or within six days of their due date. If allpayments are not received during that time frame, the amount that was originally reduced from theprincipal balance upon disbursement is added back to the borrower’s principal balance.After reviewing Mr. [redacted]’s account, we verified that the incentive was removed inaccordance with the incentive guidelines. His first payment was due December 9, 2014, but wasnot received until January 26, 2015, which was outside the required six day time frame referencedabove. As a result, the principal balance reduction initially removed from his account wasreapplied. Unfortunately, we do not show a phone conversation occurring between Mr.[redacted] and Great Lakes in November 2014, as referenced in his complaint.We understand that this may not be the answer Mr. [redacted] was hoping for and apologize forany frustration he has experienced. If he has any questions or concerns, he may contact ourBorrower Services Department at ###-###-####, [redacted], or the addressbelow:[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
Stephen [redacted]
Thank you for contacting us on behalf of Mr. [redacted] and for providing us the opportunity to address his concern regarding his...
Consolidation loan that we service for the U.S. Department of Education (ED). Mr. [redacted]’s concern, as I understand it, is that he asserts his loan should not be in repayment at Great Lakes because it was discharged due to Total and Permanent Disability (TPD) in late 2013.Upon receiving Mr. [redacted]’s concern, we reviewed our records to verify whether or not we have received a recall request from [redacted], ED’s TPD servicer, to transfer his loan back to them so it can be placed back into its discharged status. Unfortunately, our records did not reflect that we received the request he referenced [redacted] sent to us to recall his loan. As a result, we contacted [redacted] to confirm the date they sent the initial recall request. In response, [redacted] advised the reason Mr. [redacted]’s loan was reinstated is because he did not return the required income documentation necessary for them to review and confirm he still met the TPD discharge’s eligibility requirements. They also advised the following events occurred:November 17, 2014 – [redacted] sent the initial letter requesting Mr. [redacted] to provide current income documentation. They stated that this same request was sent two additional times, once at the end of December, and the second at the end of January.March 24, 2015 – Mr. [redacted] provided the required income documentation; however, [redacted] did not finish processing it until August 2015.July 9, 2015 – Mr. [redacted]’s loan was reinstated and transferred to Great Lakes.August 10, 2015 – [redacted] finished processing the income documentation and verified Mr. [redacted] still met the TPD discharge’s eligibility requirements. Subsequently, they sent a recall request to Great Lakes.November 10, 2015 – Great Lakes contacted [redacted] to verify whether or not a recall request was previously sent and to request that it be sent again.November 11, 2015 – [redacted] sent a second recall request, which I can confirm has been received and processed by Great Lakes.Page 2 – Complaint #10940079Unfortunately, since [redacted] uses multiple methods to send their recall requests, we were unable to identify the reason we didn’t receive the August 10, 2015 recall request. However, now that it has been confirmed that Mr. [redacted] qualifies for the TPD discharge, his loan is in the process of transferring back to [redacted]. This should be complete within the next 7 to 10 business days. In the meantime, if Mr. [redacted] has any questions or concerns regarding the transfer of his loan or TPD in general, he may contact [redacted] at ###-###-####, between 7am – 7pm CT, 7 days a week, or visit www.disabilitydischarge.com.I apologize for any frustration this experience has caused Mr. [redacted], but I do hope that the information provided alleviates his concern. If he has any additional questions or concerns unrelated to TPD, prior to the transfer of his loan, he may contact our Borrower Services Department by phone at ###-###-####, through email at [email protected], or by mailing:Great Lakes[redacted]
Thank you for contacting us on behalf of Mr. Jason [redacted] and for providingus the opportunity to address his concern regarding the information reported to thenationwide Consumer Reporting Agencies (CRAs) by Great Lakes on his student loanaccount with the U.S. Department of Education (ED)....
According to his inquiry, he statesthat Great Lakes has not reported that payments have been made toward his accountsince March 2016.In order to fully address Mr. [redacted]’s concern, we must first mention that theHigher Education Act of 1965, as amended, requires Great Lakes to report the status ofall serviced student loan accounts to the nationwide CRAs. Additionally, the Fair CreditReporting Act requires this information be reported accurately and objectively. Pleasealso note that Great Lakes is audited to ensure our compliance with these requirements.Upon receiving Mr. [redacted]’s inquiry, we reviewed his account and confirmedthat all information reported to the CRAs on his behalf is accurate. Included within theinformation reported to the CRAs, (which we send on a monthly basis for all borrowers),is the date and amount of payment he made that month. Such information has beenreported toward Mr. [redacted]’s credit files at the end of each month since webegan servicing his loan in May 2013.However, if Mr. [redacted] believes that the aforementioned information is notreflected on his credit report, we ask that he please submit a copy of his credit report tous using the email or mailing address listed below, or fax it to ###-###-####, for review.Additionally, we are pleased to add that while during our reviewing Mr. [redacted]’saccount, we discovered an opportunity to reinstate his rebate incentive, whichhe previously lost due to one of his initial 12 payments being made more than six daysafter his monthly payment was due. The rebate incentive allows a six day grace periodand if any payment was made outside that time frame, the rebate incentive is lost.However, we were able to reinstate his rebate incentive and his principle balance hasbeen reduced $10.00.We hope that Mr. [redacted] finds the information provided helpful. If he hasadditional questions or concerns, he may contact our Borrower Services Department byphone at ###-###-#### (Please note that some calls may be monitored and recordedfor quality assurance purposes), by email at [redacted], or by mail tothe address below:Great Lakes[redacted]
Thank you for your follow up in conjunction with Ms. [redacted]’s original complaint and subsequent rebuttals. Within Ms. [redacted]’s most recent rebuttal, she asserts that in December 2014, when she originally realized her loans with Great Lakes were excluded from her consolidation, she faxed Great Lakes a consolidation add-on form to include the aforementioned loans.Regrettably, Great Lakes has no record of the fax Ms. [redacted] referenced. Even though a confirmation number is provided, there are numerous reasons a fax could still fail. The confirmation number Ms. [redacted] was initially provided upon sending the document may confirm the opening facet of the fax process was successful, but it does not provide confirmation the document was received by Great Lakes, the intended party. For this reason, to prevent such issues from occurring, we recommend that borrowers follow up with our Borrower Services Department after sending documents to confirm their receipt.Correspondingly, Great Lakes does not have the ability, using the confirmation number provided by the fax machine Ms. [redacted] sent her consolidation add-on form from, to identify or determine the reason her December 2014 fax failed to be successfully transmitted and received. Please know that if it was possible to determine this information, as Great Lakes’ primary goal is to assist our borrowers with the repayment of their loan(s) in any way we can, we would have done everything in our ability to rectify Ms. [redacted]’s issue.Moving forward, as previously referenced, Ms. [redacted] would need to perform a new consolidation to add the loans excluded from her original consolidation. For additional information on doing a new Direct Loan consolidation, she may call ###-###-#### or visit www.studentloans.gov.Should Ms. [redacted] have any questions or concerns regarding the information provided, she may contact our Borrower Services Department by phone at ###-###-####, through email at [redacted], or by mailing:[redacted]
[redacted]
[redacted]Sincerely,[redacted]Great Lakes Education Loan Services, Inc.
Thank you for contacting us on
behalf of Ms. [redacted] and for providing us the opportunity to address
her concern regarding the application of payments toward her Direct
Consolidation Loan that we service for the U.S. Department of Education (ED). Additionally,
she is requesting...
documentation illustrating how her payments are being applied
toward her accrued interest balance. After receiving Ms. [redacted] inquiry, we reviewed our records and confirmed that
on October 4, 2016, she filed a similar complaint with the Consumer Financial
Protection Bureau, which we are currently in the process of addressing and
responding to. It is important to note that due
to the complexity of Ms. [redacted]’ concern, extensive research is currently
being completed in order to ensure that it is thoroughly addressed.
Unfortunately, this research is still underway. Therefore, we are unable to provide
a detailed response at this time. However, she can expect to receive our
detailed response to her CFPB complaint on or before October 19, 2016. We apologize to Ms. [redacted] for
the delay in providing a response to her concern, and ask that if she has
additional questions or concerns that she contact a Specialized Account Manager
directly by phone at ###-###-####. She may also contact our Borrower Services
Department by phone at ###-###-#### (please
note that some calls may be monitored or recorded for quality assurance
purposes), by email at [email protected], or by mail to: Great Lakes [redacted]
[redacted]
June 12, 2015
[redacted]
[redacted]
[redacted]
[redacted] [redacted]
[redacted] [redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted]
Dear
Mr. [redacted]:
Thank
you for again contacting us on behalf of Mr. [redacted] and for providing
us the opportunity to address his additional concerns which are, as we
understand them, as follows:
He is requesting $96 in overdraft
fees refunded to him.
He is requesting his loan to be
transferred to a different servicer.
Issue 1: Refund of
Overdraft Fees
Great
Lakes is willing to review the overdraft fees Mr. [redacted] stated he incurred
upon receipt of any of the following types of correspondence:
A copy of his bank statement
showing the payment pulled by Great Lakes which caused the overdraft fee.
The date and the amount of the
payment pulled by Great Lakes.
The date and the amount of the overdraft
fee which he incurred.
His accounts balance before and
after the overdraft fee was applied.
Please
note, for Great Lakes to accept this verification of the fee assessed by Mr.
[redacted]’ bank, he must write his financial institution’s routing number and
account number on the statement. He may attach of copy of his bank statement and
email it to the email address provided below, fax a copy of it to ###-###-####, or mail a copy of it to:
Great Lakes
[redacted]
[redacted]
Additionally,
we request that Mr. [redacted] include his Great Lakes ID ([redacted]) with any
documentation he sends in so we can match it to the correct account.
Issue 2: Loan
Transfer
As
part of Mr. [redacted]’ desired outcome, he requested his loan be transferred
elsewhere for servicing. Great Lakes is unable to transfer his loan upon
request because his lender, the U.S. Department of Education (ED), decides who
the servicer of their student loan accounts are. However, ED does allow a borrower
to choose their servicer if they consolidate their loans. As such, Mr. [redacted]
would need to visit www.studentloans.gov
for additional information on consolidation or to apply.
I again
apologize to Mr. [redacted] for the frustration he has experienced. I hope he
finds the information provided helpful. If he has any additional questions or concerns, he may contact
our Borrower Services Department by phone at ###-###-####, by email at [redacted], or by
mail to the aforementioned address.
Sincerely,
Aimee S[redacted]
[redacted] [redacted]
Great Lakes Educational Loan Services, Inc.
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding Great Lakes’ credit reporting, which she would like updated based on the in-school deferment recently placed on her account.Upon receiving Ms. [redacted]’s inquiry, we...
reviewed her account and confirmed that she is currently in an in-school deferment. The deferment was applied based on the documentation she provided us on April 18, 2016. The deferment is currently on file from January 11, 2016 to May 12, 2018, according to the dates her school certified on the aforementioned documentation. However, it’s important for Ms. [redacted] to understand that the dates of the deferment are dependent on her enrollment status and can change if she were to fall below a half-time student status.Since the deferment was applied to Ms. [redacted]’s account retroactively to January 11, 2016, we have sent a request to the nationwide Credit Reporting Agencies (CRAs) to remove the delinquency reported on March 31, 2016. Hopefully the CRAs will promptly display this change on her credit files. Please note that each individual agency determines when the adjusted data will be displayed on her credit files.I apologize for any frustration Ms. [redacted] experienced and hope the information provided resolves her concern. To prevent similar issues from transpiring, we ask Ms. [redacted] to please update us if her enrollment status changes in the future. Additionally, if she has any questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [redacted], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,[redacted]
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
May 13, 2015
[redacted]
Complaint ID: [redacted]
Great Lakes ID: [redacted] ...
Dear
Mr. [redacted]:
Thank
you for contacting us on behalf of Mr. [redacted] and for providing us the
opportunity to address his concern in regard to the in-school deferment being
placed on his U.S. Department of Education (ED) Stafford and Consolidation
student loan accounts.
The
most recent information we received from Mr. [redacted]’s school, [redacted], indicated a withdraw date effective December 11, 2014. His school
certified this information on March 3, 2015. Mr. [redacted]’s account activity
indicates that he updated his enrollment information to show that he is currently
attending the Manatee-Sarasota campus of the State College of [redacted]
full-time, effective January 1, 2015 through May 31, 2016.
Typically,
schools update enrollment information four to six weeks after classes begin. Unfortunately,
his current school has not certified this information which is preventing us
from updating his account and placing it into the school deferment. Attached is
the most recent school enrollment information that his current and previous
schools have submitted to the National Student Loan Data System (NSLDS), ED’s
central repository that houses all federal loan information.
Mr.
[redacted] is encouraged to complete the attached school deferment application so
that the deferment can be applied to his account. So that he is aware, section
four of the application must be completed by an authorized official at his
school. He may also request his school to report updated enrollment information
to NSLDS, so that we may retrieve the information electronically and apply the
deferment to his accounts.
Once
certified enrollment verification is received, Mr. [redacted]’s request for
deferment will be evaluated, and he will be advised of any change to the status
of his accounts. Mr. [redacted] needs to be aware that he is responsible for the
monthly payments as scheduled, until he receives notification of a deferment being
approved. If a deferment is approved, it will be applied retroactively to date he
began attending classes as at least half-time student, as provided by his
school. He will receive an interest adjustment on his subsidized loan balances
at that time.
Since
Mr. [redacted] referenced his grace period, it is important for him to realize
that ED, his lender, allows only one 6 month grace period during the lifetime
of a loan. Once this grace period has been utilized, the loan(s) will enter
repayment status once a school deferment period has ended. Additionally, this
fact is significant because he has a Consolidation loan, and they do not receive
a grace period after a school deferment period has ended.
If
Mr. [redacted] would like to decrease or postpone payments until we are able to
update his school enrollment information, there are other assistance options he
may explore. We would be happy to work with him to find an option that will
work best for his situation. To discuss these options, he may contact our
Borrower Services Department at the number or email address provided below
Monday through Friday, between 7am – 9pm CT. He may also visit our website, www.mygreatlakes.org, which
provides detailed information and tools that can help him determine the best
option for his situation.
I
hope that Mr. [redacted] finds the information provided helpful and apologize for
the frustration he has experienced. If he has any questions or concerns he may
contact our Borrower Services Department at ###-###-####,
[redacted], or the address below:
[redacted]
Sincerely,
[redacted]
Please see the attached documents.
Thank you for contacting us on behalf of Ms. [redacted] and for providing us the opportunity to address her concern regarding the credit reporting we have done toward her student loan accounts, which we service on behalf of the U.S. Department of Education (ED).To begin, we must first note that...
the Higher Education Act of 1965 requires Great Lakes to report the status of all serviced student loan accounts to the nationwide Credit Reporting Agencies (CRAs). Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectively. It’s also important to note that we are audited to ensure our compliance with these requirements.With this in mind, we reviewed Ms. [redacted]’s account to verify the accuracy of the information we reported toward her credit files, and to ensure no errors were made that would lead to, or resulted in, inaccurate delinquency reporting (such as misapplication of payments). According to our records, the delinquencies that were reported toward Ms. [redacted]’s accounts occurred between June 2013 and November 2013.According to the National Student Loan Data System (NSLDS), ED’s central repository that houses all federal student loan information, Ms. [redacted] was not in school at the time the aforementioned delinquencies were reported toward her accounts. The enrollment information Ms. [redacted]’s schools reported to NSLDS indicates that she withdrew from National American University on October 8, 2012, and that she did not start school again until July 1, 2015, at Strayer University. Because of this, Ms. [redacted]’s accounts were correctly placed into repayment after her grace period, which was on file from October 9, 2012 through April 8, 2013.In addition to the aforementioned points, we also confirmed that all of the information we reported to the CRAs, on behalf of Ms. [redacted], was accurate. Regrettably, for the reasons mentioned above, even though we empathize with Ms. [redacted]’s situation, we are unable to make any adjustments to our past credit reporting.We understand that this is not the answer Ms. [redacted] was hoping for and apologize for the frustration she has experienced. If she has any questions or concerns, she may contact our Borrower Services Department by phone at ###-###-####, by email at [email protected], or by mail to the address below:Great LakesP.O. Box 7860Madison, WI 53707Sincerely,
Thank you for contacting us on behalf of Mr. [redacted]
and for providing us the opportunity to address his concern regarding the
forbearance which had applied to his U.S. Department of Education (ED) Stafford
Loan, primarily in relation to his Auto Pay interest rate incentive. To...
address Mr. [redacted]’s concerns in the most effective and
efficient manner, a Specialized Account Manager reached out to him by phone on
March 10, 2017. Immediate action was taken to remove the forbearance and
reinstate Mr. [redacted]’s previous payment schedule. Reinstating his previous
payment schedule allows his account to reflect a continuous repayment status
since December 23, 2015. As a result, his Auto Pay interest rate incentive was
not interrupted. His accrued interest has been adjusted accordingly. Because Mr. [redacted] indicated he had unchecked the box meant
to apply the forbearance when a borrower intends to complete the online
application for consolidation, we have also forwarded the information for
review to ensure nothing systematic caused the forbearance to apply. We apologize for any frustration he has experienced and
hope the information provided is helpful. If he has any questions or concerns,
he may contact our Borrower Services Department by phone at ###-###-####, by
email at [email protected], or by mail to the address below: Great Lakes P.O. Box 7860 Madison, WI 53707
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]
Thank you for your follow up on behalf of Benita [redacted] regarding the application of herexcess funds paid toward her student loan account.Based on the total monthly payment required ($181.62) and Ms. [redacted] paymentssubmitted in the amount of $200, she was paying an excess amount of $18.38 eachmonth. We have verified that the paid ahead amounts listed on her billing statementscorrelate with the additional $18.38 each month.Our review of Ms. [redacted] account further verified that each of her payments that includedexcess funds of $18.38 have been redirected as she requested. We have included adetailed payment history for Ms. [redacted] to review, which confirms the application of herpayments.We understand this may not be the answer Ms. [redacted] was hoping for and apologize forany frustration she has experienced. If she has any questions or concerns, she maycontact our Borrower Services Department by phone at ###-###-####, by email at[redacted], or by mail to the address below:Great Lakes[redacted]
[redacted]