Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Student Loan Service touches on the contract I signed. What they do not mention is how I was deceived into signing this contract. The "Things to Consider" video sent to me by Student Loan Service said that I may be able to do this on my own but when I spoke with Patrick Rhineheart I was deceived to believe that this is a necessary program in order to properly take care of my loans in the forgiveness process. I have been duped by this company and I do not appreciate their lack of owning up to what they are doing to vulnerable college graduates.I am incredibly upset with their lack of customer service and I desire a full refund of the statement I paid, a total of $989. I cancelled my contract with them on 8/26/15 because it came to my knowledge that there is no need to be paying a company for forgiveness, loan management, consolidation, or enrolling in a pay-as-you-earn program. It does not matter that I signed a contract I was convinced to sign. They deceived me by falsely advertising their services. I was mislead, this is not a forgiveness program and is not a necessary company to work with. I expect a full refund of $989 for deceiving me and for their use of false advertising.
Regards,
[redacted]
SLS apologizes for the inconvenience. We do not show a record of missed calls from client. Our records show that we last spoke with client before her complaint on 2/2/17. It is possible she was reaching out to affiliate. SLS spoke with Client on 3/30/17 and canceled services upon request. SLS can be...
reached at [redacted] Monday through Friday 8AM to 5PM PST, holidays excepted.
We are having issues with FedLoan confusing SLS for another
company with a very similar name and telling clients that we are a scamThis
is an issue that SLS is handling with FedLoanClient
was informed at the time she signed the Client Agreement that the service fees
and
Document Preparation fees are fees to SLS and do not go towards the balance
of the loansClient was also informed that all services can be done without
paid assistanceClient signed the Client Agreement with these disclosures on
12/04/Client was on in an in-school deferment until 12/9/for the loans
previously consolidated with SLS assistanceClient has taken out new loans,
and it appears Client is no longer a full time student, ending her in-school deferment
on 12/12/It appears that Client received a statement from FedLoan for repayment under the Standard planSLS has reached out to Client to see what she would like to do moving forward
There is no record of SLS ever informing Client of forgiveness after two years. No repayment plan offered by the DOE includes the option of forgiveness after two years. The fees are clearly explained in the Client Agreement and third party voice verification call. The Power of Attorney is to allow SLS to advocate on behalf of the Client with the loan servicers for any changes that Client requests including changes in debit dates, changes in repayment plans, updates on factors that may change the repayment amount such as family size or income, requests for forbearance, among other tasks for which Client may request the assistance of SLS. SLS successfully prepared Client's consolidation application paperwork, and Client's consolidation was complete on 2/7/2013. SLS also prepared the application for renewal the next year, and Client's renewal was successfully completed on 1/29/2014. Because SLS did not get a chance to complete the renewal for 2015 before Client cancelled, SLS has issued a courtesy refund for a year's service fees via FedEx, Tracking #:[redacted], delivery confirmed 4/22/2015.
Client signed on with SLS on 1/15/2014, SLS was able to gather the necessary information and complete Client's consolidation and repayment option application documents. Client's loans were consolidated and Client qualified for a $0.00 Income Based Repayment (IBR) for the 2014 year. SLS completed the...
IBR renewal which is required every year for the 2015 year on 3/23/2015. SLS notified Client that the Department of Education calculates the monthly IBR payments based on income and family size and that due to an increase in her income, Client's payments would increase to $52.96 per month. SLS notified Client via voice message and e-mail that she had payments due to FedLoan on 5/19/15, 6/10/15, 7/15 and 12/7/2015. SLS also applied for a forbearance on Client's loans on 8/25/2016 to bring Client's account up to date, and to give her time to set up payments with FedLoan. SLS left a voice message on the same day notifying Client that she would need to set up payments with FedLoan. Despite numerous attempts to reach Client, she did not respond to any e-mails or voice messages. SLS completed the IBR renewal for the 2016 year on 1/22/2016. Client called on 3/1/2016 upset that she had not been notified that she was behind on payments. SLS verified that SLS had sent emails and left voice messages and that Client had not responded to attempts to reach her. Client cancelled services on 3/1/2016. SLS has reached out to Client to resolve this issue.
SLS explained to Client during the initial sales call that the Document Processing Fee and Monthly Maintenance and Administration Fees are fees to SLS and do not go towards the balance of the loans and that SLS does not forward any payments to the loan servicers on behalf of the Client....
Attached is the Student Loan Acknowledgment which is signed before the Client sees the Client Agreement outlining that the fees go to SLS, and not the balance of the loans. Also attached is the Client Agreement where this information is repeated on the Important Information Page. Client signed both documents on 12/30/2014.
This is a case of buyer's remorseSLS gave Client the disclosures
regarding the ability of Client to consolidate on his own at no cost
using
resources provided by the Department of Education, and the fact that the
Document Processing Service Fee and Monthly Maintenance and Administration Fee
are fees to SLS and do not go towards the balance of his loans in the Acknowledgment form, which the client views before the Client Agreement, then in the Client Agreement, on a form titled, Important Information for you to Consider, which the Client is required to read and initial next to each item, and then again in a live Welcome Call, where the same disclosures are repeated verballyThe Client then has five days to cancel for any reason for a full refundIt is explained in the Client Agreement that after the five-day cancellation period, Client will not qualify for a refund unless the consolidation application documents prepared by SLS are rejected by the Department of Education
Client signed on with Student Loan Service on 9/4/at which time he signed
the pre-Client Agreement Acknowledgment form, the Client Agreement, and
completed the Welcome CallIn the pre-Client Agreement Acknowledgment form, it
states:
You
can apply for loan consolidation, without paid assistance through the
Department of Education (DOE), but you are choosing to use SLS services to
assist you prepare and process the consolidation and repayment option
application paperwork for programs offered by the DOE.The
Document Processing Service Fee and Monthly Maintenance and Administration
Fee are fees to SLS and do not go towards the balance of your loans
The
Acknowledgment form clearly states that "You can apply for loan
consolidation without paid assistance" and that fees go to SLS "and
do not go towards the balance of your loans." Client signed this on
9/4/2015, indicating that he understood and acknowledged these disclosuresSLS
gives this form before the Client Agreement, so that there is no confusion
regarding these pointsNext, Client signed the Client Agreement which includes
an Important Information for you to Consider page, which states in section C,
E, and F the following:
C
All of the services provided by
SLS can be performed using resources provided at no cost by the DOE without
paid assistance if Student has the time and energy to learn the procedures
and to obtain, complete and submit the paperwork necessary to do soServices
provided by SLS are private, optional and not required to be used
E
SLS will not make any payments on
behalf of Student
FThe Document Processing Fee and
Monthly Maintenance and Administration Fee are fees paid to SLS, and do not go
towards your loan payments
Client initialed next to each item, again indicating that he understood and
acknowledged that the services provided by SLS can be performed at no cost,
that SLS does not make any payments on behalf of student, and that the fees are
paid to SLS and do not go towards the loan payments
After signing the Acknowledgment form, the Important Information for you to
Consider form, Client then completed a live Welcome Call where he was asked
"All of the services provided by SLS can be performed using resources
provided at no cost by the Department of Education...You understand this as
well, correct?" Client answers "Yes." Client did not indicate
that he had any questions at this timeThe SLS rep then confirms with Client
that he is consolidating an estimated $74,and that Client chose the Pay As
You Earn repayment plan with an estimated monthly payment of zero dollars
Client answers affirmatively, "Yes."
The rep then goes over the fee and fee payment schedule and asks "You are
aware that the Document Processing Fee and Monthly Maintenance and
Administration Fee are fees to Student Loan Services charges, and do not go
towards the balance of your loans, correct?" Client answers
"Yes."
On 9/4/2015, SLS processed Client's consolidation and repayment plan application
documents, and sent them to Client for review and approvalClient called in to
cancel on 9/25/at which time he was informed that he did not qualify for a
refundClient indicated that he understood and that he still wished to cancel
SLS cancelled Client's account at his request on 9/25/
SLS strives to give all necessary disclosures so that clients can make an
informed decision regarding its servicesClient was given the disclosure
regarding the fact that all services can be done without paid assistance during
the sales call, the pre-Client Agreement Acknowledgment Form, the Important
Information for you to Consider form in the Client Agreement, and the live
Welcome CallUnfortunately, Client does not qualify for a refund because SLS gave the disclosures that services can be done by Client at no cost, and that the fees are to SLS and do not go towards the balance of the loans in the sales call, the Acknowledgment form, the Important Information for you to Consider form in the Client Agreement, and Welcome Call
9/3/
Complaint
Having been referred to Student Loan Services to help with student loan information I was informed by one of their representatives the help they offer to consolidate and manage student loans that are needed to be done and that involves a costI was convinced to sign up for this program in which I
signed a contract and paid Student Loan Services a total of $to do loan management I have recently been informed that I am perfectly able to do on my ownIf I had known that this is a service that can be done by myself at no cost I would have never signed up for this programSome may call it a good sales pitch, but I feel like this was a scamPreying on vulnerable recent college graduates to get their money as you take care of services they can easily take care of through Federal Loan Services at no cost is a scamI realized this months to enrolling with them, and thankfully did not continue any further with their services where I would lose more than $to them
Desired Resolution
I was informed by a supervisor at Student Loan Service that they do not refund clients their money, that is also part of the contract I signed with themI do not desire a refund of my money, I desire a replacement of my money in an apologetic compensation form for what they have doneThat is
different than a refund or a reimbursement
Consumer Business Dialog
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]
Client signed on with [redacted] ("[redacted]"), a separate company. [redacted] notified SLS of Client's cancellation on 11/3/2015 at which time all future payments were terminated, and SLS informed Client that once the ACH payment made on 10/31 secured, SLS would issue a refund. SLS cannot issue a refund...
before funds are secured. SLS sent a refund check on 11/9/2015 and sent it to Client via certified mail tracking # [redacted]. SLS explained to Client that the refund was sent via certified mail, and could not be returned via ACH reversal within 24 hours as demanded. Although [redacted] did not notify SLS of Client's cancellation, SLS has reached out to Client and will be issuing a courtesy refund to cover the overdraft fees.
Client signed onto our program
on 3/27/and became
active on 4/when her Document Processing Service Fee
clearedOn 5/8/14, SLS completed consolidation paperwork for clientWe
sincerely apologize for this errorThis should not have been done since client
was already consolidatedOn 6/30/14, an account manager noticed the error and
on7/14/was able to verify with [redacted] that Client's loans were
previously consolidated on 8/13/13, but that the Client was placed on the wrong
repayment programOn 8/12/14, a Customer Service Specialist took over the
file, contacted client regarding her repayment plan and submitted the annual
renewal for the correct program on 8/14/Client is currently on the correct
repayment plan with $paymentBecause of the error on 5/18/14, we will issue
Client a full refund
[redacted], COO
Client electronically signed the Agreement via DocuSign, an enforceable, secure electronic signature system which keeps a secure record of the IP address and time stamps of each signature. Client's consolidation shows as funded on 2/16/2016 on the National Student Loan Database System run by the Department of Education. It appears Client's loan servicer has placed her on a forbearance while they process the repayment application form.
Please contact us at 877.927.6859 ext.[redacted] to let us help resolve this issue. We do not have record of the number listed on the complaint contacting SLS and want to make sure Client is calling the correct number. SLS called Client on 8/16/2016 and left a voice message.
The call was reviewed, and the SLS rep asked Client to tell us about her complaint and any misinformation she may have received. Client says she was scammed and hung up on the rep. Client says she was scammed, but does not specify what her exact grievance is. In the Client Agreement, it states that SLS is a third party company that helps clients prepare the loan consolidation and repayment applications and provides support services in connection with the document preparation. SLS delivered on these services. Client's loans were consolidated on 6/23/2015 and Client was placed in the income driven repayment plan of her choice. If Client feels she was misinformed by her enrollment representative, SLS asks she please direct her complaint to EDU Support, a separate company who enrolled her.
SLS provides all necessary disclosures on the website footer, in a pop-up on the website, on the pre-Client Agreement Acknowledgment form, in the Client Agreement in the Important Information for you to Consider section, which requires initials next to each item, a Welcome Video, and live Welcome...
Call. From the website:Disclaimers
This site is not affiliated with or endorsed by the U.S. Department
of Education. The content or any information posted on this site does
not reflect the views of the U.S. Department of Education.You can apply for loan consolidation or other repayment assistance
without paid assistance at no cost through the Department of Education
(DOE) at Studentloans.gov .SLS helps you prepare and process the application for student loan consolidation and repayment programs offered by the DOE.SLS is not a loan servicer, and does not provide debt relief services, including renegotiating, settling, or in any way altering the terms of payment or debt. On the Acknowledgment form:SLS is aprivatecompany, and isNOT AFFILIATED WITH THE DEPARTMENT OF EDUCATIONor any other academic or governmental entity.You can apply for loan consolidation, without paid assistance through the Department of Education (DOE), but you are choosing to use SLS services to assist you prepare and process the consolidation and repayment option application paperwork for programs offered by the DOE.The Document Processing Service Fee and Monthly Maintenance and Administration Fee are fees to SLS and do not go towards the balance of your loans.By signing, I acknowledge that- I have reviewed, understand and agree to the above.On the Client Agreement:IMPORTANT INFORMATION FOR YOU TO CONSIDER
PLEASE READ THE FOLLOWING DISCLOSURES AND
ACKNOWLEDGEMENTS CAREFULLY. By signing this Agreement, Student confirms
and acknowledges that he/ she/they understand and agree (type your
initials on the first statement and check each subsequent statement to
acknowledge):
______
A.
SLS is a for-profit business that provides assistance compiling,
preparing and processing paperwork for a fee on behalf of persons who
are seeking consolidation, restructuring and/or forgiveness of their
federal or private student loans through the U.S. Department of
Education's ("DOE") programs.
______
B.
SLS is not affiliated with the DOE or any other academic or governmental entity.
______
C.
All of the services provided by SLS can be performed using
resources provided at no cost by the DOE without paid assistance if
Student has the time and energy to learn the procedures and to obtain,
complete and submit the paperwork necessary to do so. Services provided
by SLS are private, optional and not required to be used.
______
D.
SLS does not facilitate the negotiation of a debt, the settlement of a debt or the altering of the terms of a debt.
______
E.
SLS will not make any payments on behalf of Student.
______
F.
The Document Processing Fee and Monthly Maintenance and
Administration Fee are fees paid to SLS, and do not go towards your loan
payments.From the Welcome Video:
The disclosure that SLS is not affiliated with the Department of Education or any other governmental entity, that the fees go to SLS and do not go towards the balance of the loans, and that the document preparation services can be done without paid assistance is given across various platforms in several different formats: in print with signature, in audio and visual format in a video, verbally confirmed in a Welcome Call, confirmed in a written Client Agreement. SLS has reached out to Client to resolve her issue.
Unfortunately my payment was never lowered from my previous lender. Without the fee, it is exactly what it was from the last lender. If they continued with the fee, it would be more then what I paid without the income based payment schedule. Still, with all the money I paid in, I am not ahead. I lost $671.00 for this huge headache and no change to my payment. I would still like a refund for the headaches that were cause and that they truly did nothing for me. My services are not any better then what I had with my previous lender. I would have been in the same situation with my previous lender and ahead $671.00. If they could refund my money, I would be happy to close this case.Thank you,[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I do not have any paperwork stating the above. I do remember agreeing to the $375 fee. However, it was not emphasized that the $39 was a service fee that could be cancelled whenever I want. I also do not have any paperwork stating that my monthly payment was $0. Therefore, they led me to believe that money was going to my loan and not a fee. I would like to hear this conversation stating that I agreed. Also, by not receiving any of the paperwork above and "electronically signing" just by having a sales rep talk to me is a form of getting the people to pay an necessary fee without proper explanation in written form like all other paperwork e-mailed. I agree to not receiving the $375 but would like the rest of the money I spent that was really unnecessary seeing SLS doesnt send paperwork every month, only at the end of the month as stated by FedLoan.
Regards,
[redacted]
Client signed on with SLS on 8/19/2015. On 8/24/2015, Client called in to to schedule the Document Processing Service Fee out to October 15, 2015. On 10/15/15, Client called in regarding the DPSF which she authorized and scheduled to occur on 10/15/15. Client was informed that she needed to call in...
at least five days in advance to change debit dates. SLS refunded Client on 10/20/2015 for the amount in excess of her hardship fee. SLS processed Client's Pay As You Earn repayment plan application documents on 10/22/15. On 11/4/2015, Client
called in to cancel, but was advised that she was past the ten day refund policy. Client elected to cancel despite the fact that she was outside of the refund period.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that their response was not completely truthful. Thank you for all the assistance you have given. I just wanted to state what I believed to be very unprofessional.
The company was not truthful in that they were notified in February to cancel any drafts at that time. It was acknowledge by Student Loan Services it was their mistake that only one of the payments had been cancelled not both. Yes they did refund my money after almost two weeks later. I just do not feel this leaves customers with a feeling of confidence when you have requested assistance and it has been half handled correctly. I will never recommend them to any of my college friends.
Regards,
[redacted]
Client signed on with SLS on 12/5/At that time,
Client was still in school and not all of her loans were eligible for consolidationAdditional loans were added to her consolidation on 4/25/The loan that was not included in her current consolidation is a loan that was not eligible to be consolidated until 8/8/Because SLS did not notify Client that her loan could not be added until 8/814, a refund of monthly service fees of $was issued on 1/16/ SLS includes on the Client Agreement, the website, and during all enrollment sessions that Client can apply for consolidations on their own, without paid assistance
Client signed on with SLS on
7/17/14, and became active when her first payment cleared on 8/5/On
8/11/14, all consolidation documents were resent to Client's emailOn 9/9/14,
SLS confirmed Client mailed forms completed by SLS to FedLoan ServicingOn 10/10/14,
SLS left a voice message to Client and sent an email to check the status of her
consolidation applicationOn 11/25/14, Client confirmed that FedLoan Servicing
had not received her application documentsOn 9/9/14, SLS obtained
confirmation from Client that she had sent in the documents to FedLoans, but
since FedLoans had not received the documents, it appears that either FedLoans
had misplaced the documents, or there was a delivery error by USPSOn
11/25/14, SLS resent all documents and requested additional proof of income to
submit with the formsAll documents were resent to client for her to submit to
FedLoans directly on 12/9/On 12/10/14, Client sent an email stating that
she had spoken to FedLoans and that they had not received her documentsSLS
attempted to contact Client and left voice messages for her on 12/11/14,
12/18/14, and 12/30/Client did not respond or return any of these callsOn
11/25/14, SLS spoke to Client and explained the points of confusion Client had
regarding FedLoans not receiving her documentsClient was advised that she
would need to send in the documents herself to FedLoans directly, and that SLS
would monitor the consolidation for her once she has done soSLS resent all
documents to Client on 11/25/via email with instructions to send them with
her income verification directly to FedLoansEmail reminders to send the
documents to FedLoans were sent several other times on 11/28/14, and on the
1st, 4th, 7th, 9th, 10th, 17th,
24th, and 25th of December, These reminders go out
to Client until Client signs that the documents have been sent to the servicer
It appears that she has not sent the documents prepared by SLS to FedLoans, and
has not returned any attempts by SLS to reach her
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
Student Loan Service touches on the contract I signed. What they do not mention is how I was deceived into signing this contract. The "Things to Consider" video sent to me by Student Loan Service said that I may be able to do this on my own but when I spoke with Patrick Rhineheart I was deceived to believe that this is a necessary program in order to properly take care of my loans in the forgiveness process. I have been duped by this company and I do not appreciate their lack of owning up to what they are doing to vulnerable college graduates.I am incredibly upset with their lack of customer service and I desire a full refund of the statement I paid, a total of $989. I cancelled my contract with them on 8/26/15 because it came to my knowledge that there is no need to be paying a company for forgiveness, loan management, consolidation, or enrolling in a pay-as-you-earn program. It does not matter that I signed a contract I was convinced to sign. They deceived me by falsely advertising their services. I was mislead, this is not a forgiveness program and is not a necessary company to work with. I expect a full refund of $989 for deceiving me and for their use of false advertising.
Regards,
[redacted]
SLS apologizes for the inconvenience. We do not show a record of missed calls from client. Our records show that we last spoke with client before her complaint on 2/2/17. It is possible she was reaching out to affiliate. SLS spoke with Client on 3/30/17 and canceled services upon request. SLS can be...
reached at [redacted] Monday through Friday 8AM to 5PM PST, holidays excepted.
We are having issues with FedLoan confusing SLS for another
company with a very similar name and telling clients that we are a scamThis
is an issue that SLS is handling with FedLoanClient
was informed at the time she signed the Client Agreement that the service fees
and
Document Preparation fees are fees to SLS and do not go towards the balance
of the loansClient was also informed that all services can be done without
paid assistanceClient signed the Client Agreement with these disclosures on
12/04/Client was on in an in-school deferment until 12/9/for the loans
previously consolidated with SLS assistanceClient has taken out new loans,
and it appears Client is no longer a full time student, ending her in-school deferment
on 12/12/It appears that Client received a statement from FedLoan for repayment under the Standard planSLS has reached out to Client to see what she would like to do moving forward
There is no record of SLS ever informing Client of forgiveness after two years. No repayment plan offered by the DOE includes the option of forgiveness after two years. The fees are clearly explained in the Client Agreement and third party voice verification call. The Power of Attorney is to allow SLS to advocate on behalf of the Client with the loan servicers for any changes that Client requests including changes in debit dates, changes in repayment plans, updates on factors that may change the repayment amount such as family size or income, requests for forbearance, among other tasks for which Client may request the assistance of SLS. SLS successfully prepared Client's consolidation application paperwork, and Client's consolidation was complete on 2/7/2013. SLS also prepared the application for renewal the next year, and Client's renewal was successfully completed on 1/29/2014. Because SLS did not get a chance to complete the renewal for 2015 before Client cancelled, SLS has issued a courtesy refund for a year's service fees via FedEx, Tracking #:[redacted], delivery confirmed 4/22/2015.
Client signed on with SLS on 1/15/2014, SLS was able to gather the necessary information and complete Client's consolidation and repayment option application documents. Client's loans were consolidated and Client qualified for a $0.00 Income Based Repayment (IBR) for the 2014 year. SLS completed the...
IBR renewal which is required every year for the 2015 year on 3/23/2015. SLS notified Client that the Department of Education calculates the monthly IBR payments based on income and family size and that due to an increase in her income, Client's payments would increase to $52.96 per month. SLS notified Client via voice message and e-mail that she had payments due to FedLoan on 5/19/15, 6/10/15, 7/15 and 12/7/2015. SLS also applied for a forbearance on Client's loans on 8/25/2016 to bring Client's account up to date, and to give her time to set up payments with FedLoan. SLS left a voice message on the same day notifying Client that she would need to set up payments with FedLoan. Despite numerous attempts to reach Client, she did not respond to any e-mails or voice messages. SLS completed the IBR renewal for the 2016 year on 1/22/2016. Client called on 3/1/2016 upset that she had not been notified that she was behind on payments. SLS verified that SLS had sent emails and left voice messages and that Client had not responded to attempts to reach her. Client cancelled services on 3/1/2016. SLS has reached out to Client to resolve this issue.
SLS explained to Client during the initial sales call that the Document Processing Fee and Monthly Maintenance and Administration Fees are fees to SLS and do not go towards the balance of the loans and that SLS does not forward any payments to the loan servicers on behalf of the Client....
Attached is the Student Loan Acknowledgment which is signed before the Client sees the Client Agreement outlining that the fees go to SLS, and not the balance of the loans. Also attached is the Client Agreement where this information is repeated on the Important Information Page. Client signed both documents on 12/30/2014.
This is a case of buyer's remorseSLS gave Client the disclosures
regarding the ability of Client to consolidate on his own at no cost
using
resources provided by the Department of Education, and the fact that the
Document Processing Service Fee and Monthly Maintenance and Administration Fee
are fees to SLS and do not go towards the balance of his loans in the Acknowledgment form, which the client views before the Client Agreement, then in the Client Agreement, on a form titled, Important Information for you to Consider, which the Client is required to read and initial next to each item, and then again in a live Welcome Call, where the same disclosures are repeated verballyThe Client then has five days to cancel for any reason for a full refundIt is explained in the Client Agreement that after the five-day cancellation period, Client will not qualify for a refund unless the consolidation application documents prepared by SLS are rejected by the Department of Education
Client signed on with Student Loan Service on 9/4/at which time he signed
the pre-Client Agreement Acknowledgment form, the Client Agreement, and
completed the Welcome CallIn the pre-Client Agreement Acknowledgment form, it
states:
You
can apply for loan consolidation, without paid assistance through the
Department of Education (DOE), but you are choosing to use SLS services to
assist you prepare and process the consolidation and repayment option
application paperwork for programs offered by the DOE.The
Document Processing Service Fee and Monthly Maintenance and Administration
Fee are fees to SLS and do not go towards the balance of your loans
The
Acknowledgment form clearly states that "You can apply for loan
consolidation without paid assistance" and that fees go to SLS "and
do not go towards the balance of your loans." Client signed this on
9/4/2015, indicating that he understood and acknowledged these disclosuresSLS
gives this form before the Client Agreement, so that there is no confusion
regarding these pointsNext, Client signed the Client Agreement which includes
an Important Information for you to Consider page, which states in section C,
E, and F the following:
C
All of the services provided by
SLS can be performed using resources provided at no cost by the DOE without
paid assistance if Student has the time and energy to learn the procedures
and to obtain, complete and submit the paperwork necessary to do soServices
provided by SLS are private, optional and not required to be used
E
SLS will not make any payments on
behalf of Student
FThe Document Processing Fee and
Monthly Maintenance and Administration Fee are fees paid to SLS, and do not go
towards your loan payments
Client initialed next to each item, again indicating that he understood and
acknowledged that the services provided by SLS can be performed at no cost,
that SLS does not make any payments on behalf of student, and that the fees are
paid to SLS and do not go towards the loan payments
After signing the Acknowledgment form, the Important Information for you to
Consider form, Client then completed a live Welcome Call where he was asked
"All of the services provided by SLS can be performed using resources
provided at no cost by the Department of Education...You understand this as
well, correct?" Client answers "Yes." Client did not indicate
that he had any questions at this timeThe SLS rep then confirms with Client
that he is consolidating an estimated $74,and that Client chose the Pay As
You Earn repayment plan with an estimated monthly payment of zero dollars
Client answers affirmatively, "Yes."
The rep then goes over the fee and fee payment schedule and asks "You are
aware that the Document Processing Fee and Monthly Maintenance and
Administration Fee are fees to Student Loan Services charges, and do not go
towards the balance of your loans, correct?" Client answers
"Yes."
On 9/4/2015, SLS processed Client's consolidation and repayment plan application
documents, and sent them to Client for review and approvalClient called in to
cancel on 9/25/at which time he was informed that he did not qualify for a
refundClient indicated that he understood and that he still wished to cancel
SLS cancelled Client's account at his request on 9/25/
SLS strives to give all necessary disclosures so that clients can make an
informed decision regarding its servicesClient was given the disclosure
regarding the fact that all services can be done without paid assistance during
the sales call, the pre-Client Agreement Acknowledgment Form, the Important
Information for you to Consider form in the Client Agreement, and the live
Welcome CallUnfortunately, Client does not qualify for a refund because SLS gave the disclosures that services can be done by Client at no cost, and that the fees are to SLS and do not go towards the balance of the loans in the sales call, the Acknowledgment form, the Important Information for you to Consider form in the Client Agreement, and Welcome Call
9/3/
Complaint
Having been referred to Student Loan Services to help with student loan information I was informed by one of their representatives the help they offer to consolidate and manage student loans that are needed to be done and that involves a costI was convinced to sign up for this program in which I
signed a contract and paid Student Loan Services a total of $to do loan management I have recently been informed that I am perfectly able to do on my ownIf I had known that this is a service that can be done by myself at no cost I would have never signed up for this programSome may call it a good sales pitch, but I feel like this was a scamPreying on vulnerable recent college graduates to get their money as you take care of services they can easily take care of through Federal Loan Services at no cost is a scamI realized this months to enrolling with them, and thankfully did not continue any further with their services where I would lose more than $to them
Desired Resolution
I was informed by a supervisor at Student Loan Service that they do not refund clients their money, that is also part of the contract I signed with themI do not desire a refund of my money, I desire a replacement of my money in an apologetic compensation form for what they have doneThat is
different than a refund or a reimbursement
Consumer Business Dialog
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
[redacted]
Client signed on with [redacted] ("[redacted]"), a separate company. [redacted] notified SLS of Client's cancellation on 11/3/2015 at which time all future payments were terminated, and SLS informed Client that once the ACH payment made on 10/31 secured, SLS would issue a refund. SLS cannot issue a refund...
before funds are secured. SLS sent a refund check on 11/9/2015 and sent it to Client via certified mail tracking # [redacted]. SLS explained to Client that the refund was sent via certified mail, and could not be returned via ACH reversal within 24 hours as demanded. Although [redacted] did not notify SLS of Client's cancellation, SLS has reached out to Client and will be issuing a courtesy refund to cover the overdraft fees.
Client signed onto our program
on 3/27/and became
active on 4/when her Document Processing Service Fee
clearedOn 5/8/14, SLS completed consolidation paperwork for clientWe
sincerely apologize for this errorThis should not have been done since client
was already consolidatedOn 6/30/14, an account manager noticed the error and
on7/14/was able to verify with [redacted] that Client's loans were
previously consolidated on 8/13/13, but that the Client was placed on the wrong
repayment programOn 8/12/14, a Customer Service Specialist took over the
file, contacted client regarding her repayment plan and submitted the annual
renewal for the correct program on 8/14/Client is currently on the correct
repayment plan with $paymentBecause of the error on 5/18/14, we will issue
Client a full refund
[redacted], COO
Client electronically signed the Agreement via DocuSign, an enforceable, secure electronic signature system which keeps a secure record of the IP address and time stamps of each signature. Client's consolidation shows as funded on 2/16/2016 on the National Student Loan Database System run by the Department of Education. It appears Client's loan servicer has placed her on a forbearance while they process the repayment application form.
Please contact us at 877.927.6859 ext.[redacted] to let us help resolve this issue. We do not have record of the number listed on the complaint contacting SLS and want to make sure Client is calling the correct number. SLS called Client on 8/16/2016 and left a voice message.
The call was reviewed, and the SLS rep asked Client to tell us about her complaint and any misinformation she may have received. Client says she was scammed and hung up on the rep. Client says she was scammed, but does not specify what her exact grievance is. In the Client Agreement, it states that SLS is a third party company that helps clients prepare the loan consolidation and repayment applications and provides support services in connection with the document preparation. SLS delivered on these services. Client's loans were consolidated on 6/23/2015 and Client was placed in the income driven repayment plan of her choice. If Client feels she was misinformed by her enrollment representative, SLS asks she please direct her complaint to EDU Support, a separate company who enrolled her.
SLS provides all necessary disclosures on the website footer, in a pop-up on the website, on the pre-Client Agreement Acknowledgment form, in the Client Agreement in the Important Information for you to Consider section, which requires initials next to each item, a Welcome Video, and live Welcome...
Call. From the website:Disclaimers
This site is not affiliated with or endorsed by the U.S. Department
of Education. The content or any information posted on this site does
not reflect the views of the U.S. Department of Education.You can apply for loan consolidation or other repayment assistance
without paid assistance at no cost through the Department of Education
(DOE) at Studentloans.gov .SLS helps you prepare and process the application for student loan consolidation and repayment programs offered by the DOE.SLS is not a loan servicer, and does not provide debt relief services, including renegotiating, settling, or in any way altering the terms of payment or debt. On the Acknowledgment form:SLS is aprivatecompany, and isNOT AFFILIATED WITH THE DEPARTMENT OF EDUCATIONor any other academic or governmental entity.You can apply for loan consolidation, without paid assistance through the Department of Education (DOE), but you are choosing to use SLS services to assist you prepare and process the consolidation and repayment option application paperwork for programs offered by the DOE.The Document Processing Service Fee and Monthly Maintenance and Administration Fee are fees to SLS and do not go towards the balance of your loans.By signing, I acknowledge that- I have reviewed, understand and agree to the above.On the Client Agreement:IMPORTANT INFORMATION FOR YOU TO CONSIDER
PLEASE READ THE FOLLOWING DISCLOSURES AND
ACKNOWLEDGEMENTS CAREFULLY. By signing this Agreement, Student confirms
and acknowledges that he/ she/they understand and agree (type your
initials on the first statement and check each subsequent statement to
acknowledge):
______
A.
SLS is a for-profit business that provides assistance compiling,
preparing and processing paperwork for a fee on behalf of persons who
are seeking consolidation, restructuring and/or forgiveness of their
federal or private student loans through the U.S. Department of
Education's ("DOE") programs.
______
B.
SLS is not affiliated with the DOE or any other academic or governmental entity.
______
C.
All of the services provided by SLS can be performed using
resources provided at no cost by the DOE without paid assistance if
Student has the time and energy to learn the procedures and to obtain,
complete and submit the paperwork necessary to do so. Services provided
by SLS are private, optional and not required to be used.
______
D.
SLS does not facilitate the negotiation of a debt, the settlement of a debt or the altering of the terms of a debt.
______
E.
SLS will not make any payments on behalf of Student.
______
F.
The Document Processing Fee and Monthly Maintenance and
Administration Fee are fees paid to SLS, and do not go towards your loan
payments.From the Welcome Video:
The disclosure that SLS is not affiliated with the Department of Education or any other governmental entity, that the fees go to SLS and do not go towards the balance of the loans, and that the document preparation services can be done without paid assistance is given across various platforms in several different formats: in print with signature, in audio and visual format in a video, verbally confirmed in a Welcome Call, confirmed in a written Client Agreement. SLS has reached out to Client to resolve her issue.
Unfortunately my payment was never lowered from my previous lender. Without the fee, it is exactly what it was from the last lender. If they continued with the fee, it would be more then what I paid without the income based payment schedule. Still, with all the money I paid in, I am not ahead. I lost $671.00 for this huge headache and no change to my payment. I would still like a refund for the headaches that were cause and that they truly did nothing for me. My services are not any better then what I had with my previous lender. I would have been in the same situation with my previous lender and ahead $671.00. If they could refund my money, I would be happy to close this case.Thank you,[redacted]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.
I do not have any paperwork stating the above. I do remember agreeing to the $375 fee. However, it was not emphasized that the $39 was a service fee that could be cancelled whenever I want. I also do not have any paperwork stating that my monthly payment was $0. Therefore, they led me to believe that money was going to my loan and not a fee. I would like to hear this conversation stating that I agreed. Also, by not receiving any of the paperwork above and "electronically signing" just by having a sales rep talk to me is a form of getting the people to pay an necessary fee without proper explanation in written form like all other paperwork e-mailed. I agree to not receiving the $375 but would like the rest of the money I spent that was really unnecessary seeing SLS doesnt send paperwork every month, only at the end of the month as stated by FedLoan.
Regards,
[redacted]
Client signed on with SLS on 8/19/2015. On 8/24/2015, Client called in to to schedule the Document Processing Service Fee out to October 15, 2015. On 10/15/15, Client called in regarding the DPSF which she authorized and scheduled to occur on 10/15/15. Client was informed that she needed to call in...
at least five days in advance to change debit dates. SLS refunded Client on 10/20/2015 for the amount in excess of her hardship fee. SLS processed Client's Pay As You Earn repayment plan application documents on 10/22/15. On 11/4/2015, Client
called in to cancel, but was advised that she was past the ten day refund policy. Client elected to cancel despite the fact that she was outside of the refund period.
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that their response was not completely truthful. Thank you for all the assistance you have given. I just wanted to state what I believed to be very unprofessional.
The company was not truthful in that they were notified in February to cancel any drafts at that time. It was acknowledge by Student Loan Services it was their mistake that only one of the payments had been cancelled not both. Yes they did refund my money after almost two weeks later. I just do not feel this leaves customers with a feeling of confidence when you have requested assistance and it has been half handled correctly. I will never recommend them to any of my college friends.
Regards,
[redacted]
Client signed on with SLS on 12/5/At that time,
Client was still in school and not all of her loans were eligible for consolidationAdditional loans were added to her consolidation on 4/25/The loan that was not included in her current consolidation is a loan that was not eligible to be consolidated until 8/8/Because SLS did not notify Client that her loan could not be added until 8/814, a refund of monthly service fees of $was issued on 1/16/ SLS includes on the Client Agreement, the website, and during all enrollment sessions that Client can apply for consolidations on their own, without paid assistance
Client signed on with SLS on
7/17/14, and became active when her first payment cleared on 8/5/On
8/11/14, all consolidation documents were resent to Client's emailOn 9/9/14,
SLS confirmed Client mailed forms completed by SLS to FedLoan ServicingOn 10/10/14,
SLS left a voice message to Client and sent an email to check the status of her
consolidation applicationOn 11/25/14, Client confirmed that FedLoan Servicing
had not received her application documentsOn 9/9/14, SLS obtained
confirmation from Client that she had sent in the documents to FedLoans, but
since FedLoans had not received the documents, it appears that either FedLoans
had misplaced the documents, or there was a delivery error by USPSOn
11/25/14, SLS resent all documents and requested additional proof of income to
submit with the formsAll documents were resent to client for her to submit to
FedLoans directly on 12/9/On 12/10/14, Client sent an email stating that
she had spoken to FedLoans and that they had not received her documentsSLS
attempted to contact Client and left voice messages for her on 12/11/14,
12/18/14, and 12/30/Client did not respond or return any of these callsOn
11/25/14, SLS spoke to Client and explained the points of confusion Client had
regarding FedLoans not receiving her documentsClient was advised that she
would need to send in the documents herself to FedLoans directly, and that SLS
would monitor the consolidation for her once she has done soSLS resent all
documents to Client on 11/25/via email with instructions to send them with
her income verification directly to FedLoansEmail reminders to send the
documents to FedLoans were sent several other times on 11/28/14, and on the
1st, 4th, 7th, 9th, 10th, 17th,
24th, and 25th of December, These reminders go out
to Client until Client signs that the documents have been sent to the servicer
It appears that she has not sent the documents prepared by SLS to FedLoans, and
has not returned any attempts by SLS to reach her