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 received a call on June 6th but I was at work and called back that day and left a voice mail to call me back the next day at 230pmI did not received a phone call, the next phone call I received was today June 10th and again I am at work] Regards, [redacted]
We are sorry to hear that Mr [redacted] 's experience was a negative one It is important that the client understands that he enrolled through Get Student Debt Relief (GSDR), all reps mentioned in complaint work at GSDR, not Student Loan Service Client signed up to consolidate his federal student loans and enter into a Pay as you earn program which offers debt forgiveness after payments Based on the clients current income and family size, she qualified for a $payment on his loans SLS has a monthly service charge of $which is outlined in the agreement With the $loan payment and the $fee, the client would pay $14,of his actual debt of $29k if his family size and income stays the same (year after year) This is a program designed and offered by the Dept of Education and SLS is a 3rd party company who prepares the documents for the initial consolidation as well as the annual recertification The $is the document preparation fee also outlined in the agreement Client signed up on 5/13/and was given business days to cancel The client cancelled on 8/17/after services were rendered and documents were signed and sent off the Fedloan for processing The repayment plan, the monthly payment quote, and the information regarding the potential loan forgiveness is all valid and true If SLS is not able to place the client in the program offered then it is written in the agreement that the client will be offered 100% money back at any time That said, SLS will agree to refund the client in full but it is important to understand that SLS did nothing wrong, all services had been rendered per the agreement[redacted] ***Student Loan Service
We are sorry to hear that Ms [redacted] is unhappy with the service provided by SLS Let me take some time to explain: Our service is a voluntary one, but please read this article prior to assuming our service is not a necessary one: / [redacted] Style Definitions */ [redacted] / [redacted] Style Definitions */ [redacted] [redacted] [redacted] It is upsetting to get a full refund demand when SLS put so many resources into her file From follow up to ensure she got the application signed, to explaining that since she was unemployed she didnt have to show paystubs, to helping her get into temporary forbearance when she received the letter for payment, to helping her reprocess her application when she notified us that she got a job, to giving her father a consultation on his loans after explaining that she cannot add them to her consolidation, to getting her into the $payment and help track the forgiveness under the PSLF, to even refunding the last $fee because she chose to cancel and handle her loans moving forward All this said, we are willing to offer a partial refund given her enrollment experience with Patrick who is not a rep at Student Loan Service (he works at an affiliate company out of Utah- Student Loan Relief Service) We will offer Ms [redacted] $which is a full refund on the processing fee If Ms [redacted] agrees to refund, she must understand that she is no longer welcome back to our program, if her attempt at re-application fails, she will be forced to use another 3rd party company or attempt to work with the servicer directly We wish you the best[redacted] ***Student Loan Service / [redacted] Style Definitions */
I have not received any assistance with my student loans past the first time I have had several reps (no one tells me when my rep changes) They do not return calls or emails I have had to do all the renewals for my IDR and pay $per month for nothing The one call I received had not way to call back I have sent numerous emails, made calls and left messages with receptions and when I do get a call back it is with the speech of "oh let me look into for you." and get nothing in return I wouldn't recommend this company to anyone
Student Loan Services did not provide me with a contractMost of the initial transaction was conducted via telephoneWhen I asked them for detailed account information SLS was non-responsive
Client signed on with SLS 5/25/It was explained that the Document Processing Service Fee of $and the Monthly Maintenance and Administration fee of $were fees to SLSThe $was his estimated payment to his student loans under the Income Based Repayment Plan, offered by the DOEClient qualified for forgiveness under the Public Service Loan Forgiveness plan after qualifying payments, also offered by the DOEClient provided an income of $96,000, however his verified income showed an AGI of $123,516, increasing his payments to $Client would still qualify for PSLF forgiveness benefits if his income does not increase Client was cancelled on 6/4/2015, and a full refund was issued / [redacted] Style Definitions */
/ [redacted] Style Definitions */ Client signed on with SLS on 10/10/at which time she signed the Client Agreement which states that the Document Processing Service Fee and Monthly Maintenance and Administration Fee are fees to SLSClient also completed a live Welcome Call on the same day, where she was asked if she was aware that the fees are to SLS and do not go towards the balance of the student loans; Client answered "Yes." SLS was able to successfully gather Client's information and prepare the consolidation and Income Based Repayment (IBR) application documentsClient's loans were successfully consolidated through the Department of Education and FedLoan in January, SLS also completed the IBR renewal application for Client on October as the income dependent repayment options require annual renewal, often with substantial changes in income and family sizeIn April 2015, SLS updated Client's information with her loan servicer as she experienced changes in income and family sizeClient is currently on IBR with a $monthly student loan payment Unfortunately, because the disclosures regarding the fees were given to Client on the Client Agreement which she signed on 10/10/2013, indicating that she agreed and understood, and because she was given a live Welcome Call where she was asked if she was aware that the fees are to SLS and do not go towards the balance of the student loans, where she replied “Yes,” Client does not qualify for a refund / [redacted] Style Definitions */
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 documentsClient's loans were consolidated and Client qualified for a $Income Based Repayment (IBR) for the yearSLS completed the IBR renewal which is required every year for the year on 3/23/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 $per monthSLS notified Client via voice message and e-mail that she had payments due to FedLoan on 5/19/15, 6/10/15, 7/and 12/7/SLS also applied for a forbearance on Client's loans on 8/25/to bring Client's account up to date, and to give her time to set up payments with FedLoanSLS left a voice message on the same day notifying Client that she would need to set up payments with FedLoanDespite numerous attempts to reach Client, she did not respond to any e-mails or voice messagesSLS completed the IBR renewal for the year on 1/22/Client called on 3/1/upset that she had not been notified that she was behind on paymentsSLS verified that SLS had sent emails and left voice messages and that Client had not responded to attempts to reach herClient cancelled services on 3/1/SLS has reached out to Client to resolve this issue
Client signed on with SLS on 7/22/SLS mailed all completed loan consolidation documents to Client on 8/6/Client completed her consolidation with the Department of Education and her loan servicers on 9/22/It seems like Client was confused about the consolidation process Client’s payments were reduced to $10/month on the Income Based Repayment program offered by the Department of EducationClient was advised that on the IBR plan, the remainder of her loans after consecutive payments would be forgivenIt seems like Client may have confused this for a loan reductionSLS reached out to Client and left a voice message to Client explaining the services and consolidation process on 1/13/Client did not respond [redacted] / [redacted] Style Definitions */
On 3/25/15, SLS reached out to Client and explained the timeframe for consolidation, and that we were still waiting on Client to send Proof of Income (POI)Client sent POI on 3/25/15, and completed a conference call with her servicer to place her on a forbearance so that no loan payments would be due until the POI is processed by her loan servicerSLS reached out to Client and was able to clear any confusionWe will continue to update Client on the status of her consolidation and repayment terms / [redacted] Style Definitions */
Client signed on with SLS on 11/28/at which time she signed the Client Acknowledgment and Client Agreement which both clearly state that the fees are to SLS, and do not go towards the balance of the loansClient’s consolidation was completed on 1/23/Client’s loan servicer incorrectly placed her in the Standard repayment program which has a much higher payment than the Income Based Repayment indicated on the application to her servicerIf the servicer does not update Client’s repayment program within a few weeks of the consolidation, SLS follows up with the servicer to ensure the correct repayment plan is processedBecause the consolidation timeframe typically takes 60-days and the repayment correction occurs a few weeks after the actual consolidation occurs, the servicer will ask for updated income documents to process the correct repayment programSLS checked all email correspondence with Client but did not find any negative emailsIt is possible that Client was contacting her enrollment representative at Student Loan Project, a separate company / [redacted] Style Definitions */
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 According to the new lender, this loan is not in any type of special program (income drive, teacher, or public service) The most recent application being considered is MY submission of 2/16/ Student Loan Service submitted at least applications with out dated forms or incomplete information Regards, [redacted]
The call was reviewed, and the SLS rep asked Client to tell us about her complaint and any misinformation she may have receivedClient says she was scammed and hung up on the repClient says she was scammed, but does not specify what her exact grievance isIn 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 preparationSLS delivered on these servicesClient's loans were consolidated on 6/23/and Client was placed in the income driven repayment plan of her choiceIf 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
I recently had Student Loan Service (SLS) as my primary contact for student loan repaymentI cancelled the contract with SLS after getting a better deal with a different providerAt no time did I give them permission to release any information to FedLoans, or contact them myself that I was no longer in a income based repayment program Subsequent to the letters and e-mail to SLS of the cancellation, I started receiving request for full payment from FedLoans the holder of my accountI contacted my new vendor and they have advised me that they have not contacted FedLoans either and they should not have me in repayment status I have come to the conclusion, because they've had access to the account prior to cancellation, SLS has fraudulently gave information to FedLoans to reactivate my account into a full payment statusThis is fraud at it's bestSince the cancellation with SLS my account is again considered in an active status without my permissionI want to know how it was r
We apologize for the error, client should not have been enrolled has her loans had previously been consolidatedThe sales rep who enrolled client is no longer an employeeA full refund has been issued / [redacted] Style Definitions */
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 / [redacted] Style Definitions */
Client signed on with SLS 6/13/2014, and her consolidation application documents were mailed on 6/16/ Client’s consolidation was completed within the typical 60-day timeframe set by the Department of Education on 8/9/However, Client’s loan servicer, FedLoan, placed her incorrectly in the Standard repayment plan, rather than the Pay As You Earn (“PAYE”) repayment plan which was indicated on the application paperwork processed by SLSThis is a common error by loan servicers who, due to the high volume of applications, routinely place borrowers in an incorrect repayment plan and send bills for higher payments in the Standard plan rather than the chosen income dependent repayment plansThese private loan servicers are private bill collectors, not necessarily interested in making sure the client receives all the benefits available through the Department of Education (“DOE”)In a press release by the DOE, released 2/27/2015, the DOE stated that following a review of private collection agencies, it found that these “companies made materially inaccurate representations to borrowers ” causing the DOE to terminate contracts with of the private collection agencies reviewedThe DOE further states that they will “provide enhanced Fair Debt Collection Practices Act and Unfair, Deceptive, or Abusive Acts or Practices monitoring and guidance for all private collection agencies that work with the Department ” SLS provides services to protect borrowers from these types of errors and misinformation from servicers, making sure that the consolidation applications and repayment plan documents are processed correctly so that clients can receive all the benefits available to them through the DOE In this case, SLS advocated on behalf of the Client and conducted a conference call with FedLoan on 8/25/14, at which time FedLoan indicated that they had not yet processed Client’s Proof of Income (“POI”) and would place Client in the correct repayment plan as soon as her POI was processed On 9/19/21014, FedLoan indicated that the consolidation process was complete, however upon a follow-up, SLS found the payment terms still reflected the Standard payment plan rather than the chosen PAYE planAt this time, SLS again contacted FedLoan to correct Client’s repayment plan to PAYE, and applied for a forbearance for Client so she would not have any payments due while FedLoan corrected their error in placing Client in the Standard repayment programSLS emailed Client to get an updated POI for FedLoan to process her into the correct repayment plan on 9/9/and 11/13/14, called Client on 12/10/14, emailed again on 12/23/14, 1/23/However, Client did not respondOn 2/13/15, Client contacted SLS regarding a bill for $ from FedLoan, which still reflects the payments due on the Standard PlanSLS sent updated information to have this issue resolved on the same dayIt appears FedLoan still has not processed her updated income and family size information sent on 2/13/ / [redacted] Style Definitions */
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 $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 $ If they could refund my money, I would be happy to close this case.Thank you, [redacted]
Client signed on with SLS on 12/23/at which time she signed the Client Agreement which states that SLS will not make any payments on behalf of Student, and that the Document Processing FEe and Monthly Maintenance and Administration Fee are fees paid to SLS and do not go towards the loan paymentsClient initialed next to each of these items, indicating that she understands and agrees **due to privacy concerns the image cannot be published[redacted] Client then signed the Welcome Video Acknowledgment which repeats that "SLS will not make any payments towards your loans on your behalf, or pay off your loans in any waySLS is a document preparation service." The video also states, "Turn up your speakers, this one is very important: The Document Processing Fee and recurring Monthly Maintenance and Administration Fee are fees paid to SLS, and do not go towards your loan payments." Client signed the Welcome Video Acknowledgment form on 10/24/2014, indicating that she viewed and understood the video in its entiretyPlease See Attached Welcome Video Acknowledgment form SLS prepared Client's consolidation and Pay As You Earn repayment plan application, and Client's loans were successfully consolidated on 5/27/ Client qualified for $payments under the PAYE repayment planIt was explained to Client that her monthly student loan payments under the PAYE plan are based on income and family size, as calculated by the Department of EducationUnder PAYE, Client is on a year repayment planThe $ payments qualify towards the payments required under the year planMore information on PAYE can be found the Department of Education (DOE) website: https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven SLS has given Client the disclosures regarding the fees and services several times through different mediums, and Client signed the Client Agreement and Welcome Video Acknowledgment indicating that she understood that SLS does not make any payments on behalf of the Client and that the fees do not go towards the loansSLS has e-mailed Client a request to set up a time to discuss her complaint, as she has requested that SLS does not contact her via phone call Client can access her loan information at any time through the National Student Loan Data System: https://www.nslds.ed.gov/nslds/nslds_SA/ Client cancelled SLS services on 2/22/16, and will have to complete her renewal on her own, with FedLoan by June / [redacted] Style Definitions */
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 loansAlso attached is the Client Agreement where this information is repeated on the Important Information PageClient signed both documents on 12/30/
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 received a call on June 6th but I was at work and called back that day and left a voice mail to call me back the next day at 230pmI did not received a phone call, the next phone call I received was today June 10th and again I am at work] Regards, [redacted]
We are sorry to hear that Mr [redacted] 's experience was a negative one It is important that the client understands that he enrolled through Get Student Debt Relief (GSDR), all reps mentioned in complaint work at GSDR, not Student Loan Service Client signed up to consolidate his federal student loans and enter into a Pay as you earn program which offers debt forgiveness after payments Based on the clients current income and family size, she qualified for a $payment on his loans SLS has a monthly service charge of $which is outlined in the agreement With the $loan payment and the $fee, the client would pay $14,of his actual debt of $29k if his family size and income stays the same (year after year) This is a program designed and offered by the Dept of Education and SLS is a 3rd party company who prepares the documents for the initial consolidation as well as the annual recertification The $is the document preparation fee also outlined in the agreement Client signed up on 5/13/and was given business days to cancel The client cancelled on 8/17/after services were rendered and documents were signed and sent off the Fedloan for processing The repayment plan, the monthly payment quote, and the information regarding the potential loan forgiveness is all valid and true If SLS is not able to place the client in the program offered then it is written in the agreement that the client will be offered 100% money back at any time That said, SLS will agree to refund the client in full but it is important to understand that SLS did nothing wrong, all services had been rendered per the agreement[redacted] ***Student Loan Service
We are sorry to hear that Ms [redacted] is unhappy with the service provided by SLS Let me take some time to explain: Our service is a voluntary one, but please read this article prior to assuming our service is not a necessary one: / [redacted] Style Definitions */ [redacted] / [redacted] Style Definitions */ [redacted] [redacted] [redacted] It is upsetting to get a full refund demand when SLS put so many resources into her file From follow up to ensure she got the application signed, to explaining that since she was unemployed she didnt have to show paystubs, to helping her get into temporary forbearance when she received the letter for payment, to helping her reprocess her application when she notified us that she got a job, to giving her father a consultation on his loans after explaining that she cannot add them to her consolidation, to getting her into the $payment and help track the forgiveness under the PSLF, to even refunding the last $fee because she chose to cancel and handle her loans moving forward All this said, we are willing to offer a partial refund given her enrollment experience with Patrick who is not a rep at Student Loan Service (he works at an affiliate company out of Utah- Student Loan Relief Service) We will offer Ms [redacted] $which is a full refund on the processing fee If Ms [redacted] agrees to refund, she must understand that she is no longer welcome back to our program, if her attempt at re-application fails, she will be forced to use another 3rd party company or attempt to work with the servicer directly We wish you the best[redacted] ***Student Loan Service / [redacted] Style Definitions */
I have not received any assistance with my student loans past the first time I have had several reps (no one tells me when my rep changes) They do not return calls or emails I have had to do all the renewals for my IDR and pay $per month for nothing The one call I received had not way to call back I have sent numerous emails, made calls and left messages with receptions and when I do get a call back it is with the speech of "oh let me look into for you." and get nothing in return I wouldn't recommend this company to anyone
Student Loan Services did not provide me with a contractMost of the initial transaction was conducted via telephoneWhen I asked them for detailed account information SLS was non-responsive
Client signed on with SLS 5/25/It was explained that the Document Processing Service Fee of $and the Monthly Maintenance and Administration fee of $were fees to SLSThe $was his estimated payment to his student loans under the Income Based Repayment Plan, offered by the DOEClient qualified for forgiveness under the Public Service Loan Forgiveness plan after qualifying payments, also offered by the DOEClient provided an income of $96,000, however his verified income showed an AGI of $123,516, increasing his payments to $Client would still qualify for PSLF forgiveness benefits if his income does not increase Client was cancelled on 6/4/2015, and a full refund was issued / [redacted] Style Definitions */
/ [redacted] Style Definitions */ Client signed on with SLS on 10/10/at which time she signed the Client Agreement which states that the Document Processing Service Fee and Monthly Maintenance and Administration Fee are fees to SLSClient also completed a live Welcome Call on the same day, where she was asked if she was aware that the fees are to SLS and do not go towards the balance of the student loans; Client answered "Yes." SLS was able to successfully gather Client's information and prepare the consolidation and Income Based Repayment (IBR) application documentsClient's loans were successfully consolidated through the Department of Education and FedLoan in January, SLS also completed the IBR renewal application for Client on October as the income dependent repayment options require annual renewal, often with substantial changes in income and family sizeIn April 2015, SLS updated Client's information with her loan servicer as she experienced changes in income and family sizeClient is currently on IBR with a $monthly student loan payment Unfortunately, because the disclosures regarding the fees were given to Client on the Client Agreement which she signed on 10/10/2013, indicating that she agreed and understood, and because she was given a live Welcome Call where she was asked if she was aware that the fees are to SLS and do not go towards the balance of the student loans, where she replied “Yes,” Client does not qualify for a refund / [redacted] Style Definitions */
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 documentsClient's loans were consolidated and Client qualified for a $Income Based Repayment (IBR) for the yearSLS completed the IBR renewal which is required every year for the year on 3/23/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 $per monthSLS notified Client via voice message and e-mail that she had payments due to FedLoan on 5/19/15, 6/10/15, 7/and 12/7/SLS also applied for a forbearance on Client's loans on 8/25/to bring Client's account up to date, and to give her time to set up payments with FedLoanSLS left a voice message on the same day notifying Client that she would need to set up payments with FedLoanDespite numerous attempts to reach Client, she did not respond to any e-mails or voice messagesSLS completed the IBR renewal for the year on 1/22/Client called on 3/1/upset that she had not been notified that she was behind on paymentsSLS verified that SLS had sent emails and left voice messages and that Client had not responded to attempts to reach herClient cancelled services on 3/1/SLS has reached out to Client to resolve this issue
Client signed on with SLS on 7/22/SLS mailed all completed loan consolidation documents to Client on 8/6/Client completed her consolidation with the Department of Education and her loan servicers on 9/22/It seems like Client was confused about the consolidation process Client’s payments were reduced to $10/month on the Income Based Repayment program offered by the Department of EducationClient was advised that on the IBR plan, the remainder of her loans after consecutive payments would be forgivenIt seems like Client may have confused this for a loan reductionSLS reached out to Client and left a voice message to Client explaining the services and consolidation process on 1/13/Client did not respond [redacted] / [redacted] Style Definitions */
On 3/25/15, SLS reached out to Client and explained the timeframe for consolidation, and that we were still waiting on Client to send Proof of Income (POI)Client sent POI on 3/25/15, and completed a conference call with her servicer to place her on a forbearance so that no loan payments would be due until the POI is processed by her loan servicerSLS reached out to Client and was able to clear any confusionWe will continue to update Client on the status of her consolidation and repayment terms / [redacted] Style Definitions */
Client signed on with SLS on 11/28/at which time she signed the Client Acknowledgment and Client Agreement which both clearly state that the fees are to SLS, and do not go towards the balance of the loansClient’s consolidation was completed on 1/23/Client’s loan servicer incorrectly placed her in the Standard repayment program which has a much higher payment than the Income Based Repayment indicated on the application to her servicerIf the servicer does not update Client’s repayment program within a few weeks of the consolidation, SLS follows up with the servicer to ensure the correct repayment plan is processedBecause the consolidation timeframe typically takes 60-days and the repayment correction occurs a few weeks after the actual consolidation occurs, the servicer will ask for updated income documents to process the correct repayment programSLS checked all email correspondence with Client but did not find any negative emailsIt is possible that Client was contacting her enrollment representative at Student Loan Project, a separate company / [redacted] Style Definitions */
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 According to the new lender, this loan is not in any type of special program (income drive, teacher, or public service) The most recent application being considered is MY submission of 2/16/ Student Loan Service submitted at least applications with out dated forms or incomplete information Regards, [redacted]
The call was reviewed, and the SLS rep asked Client to tell us about her complaint and any misinformation she may have receivedClient says she was scammed and hung up on the repClient says she was scammed, but does not specify what her exact grievance isIn 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 preparationSLS delivered on these servicesClient's loans were consolidated on 6/23/and Client was placed in the income driven repayment plan of her choiceIf 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
I recently had Student Loan Service (SLS) as my primary contact for student loan repaymentI cancelled the contract with SLS after getting a better deal with a different providerAt no time did I give them permission to release any information to FedLoans, or contact them myself that I was no longer in a income based repayment program Subsequent to the letters and e-mail to SLS of the cancellation, I started receiving request for full payment from FedLoans the holder of my accountI contacted my new vendor and they have advised me that they have not contacted FedLoans either and they should not have me in repayment status I have come to the conclusion, because they've had access to the account prior to cancellation, SLS has fraudulently gave information to FedLoans to reactivate my account into a full payment statusThis is fraud at it's bestSince the cancellation with SLS my account is again considered in an active status without my permissionI want to know how it was r
We apologize for the error, client should not have been enrolled has her loans had previously been consolidatedThe sales rep who enrolled client is no longer an employeeA full refund has been issued / [redacted] Style Definitions */
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 / [redacted] Style Definitions */
Client signed on with SLS 6/13/2014, and her consolidation application documents were mailed on 6/16/ Client’s consolidation was completed within the typical 60-day timeframe set by the Department of Education on 8/9/However, Client’s loan servicer, FedLoan, placed her incorrectly in the Standard repayment plan, rather than the Pay As You Earn (“PAYE”) repayment plan which was indicated on the application paperwork processed by SLSThis is a common error by loan servicers who, due to the high volume of applications, routinely place borrowers in an incorrect repayment plan and send bills for higher payments in the Standard plan rather than the chosen income dependent repayment plansThese private loan servicers are private bill collectors, not necessarily interested in making sure the client receives all the benefits available through the Department of Education (“DOE”)In a press release by the DOE, released 2/27/2015, the DOE stated that following a review of private collection agencies, it found that these “companies made materially inaccurate representations to borrowers ” causing the DOE to terminate contracts with of the private collection agencies reviewedThe DOE further states that they will “provide enhanced Fair Debt Collection Practices Act and Unfair, Deceptive, or Abusive Acts or Practices monitoring and guidance for all private collection agencies that work with the Department ” SLS provides services to protect borrowers from these types of errors and misinformation from servicers, making sure that the consolidation applications and repayment plan documents are processed correctly so that clients can receive all the benefits available to them through the DOE In this case, SLS advocated on behalf of the Client and conducted a conference call with FedLoan on 8/25/14, at which time FedLoan indicated that they had not yet processed Client’s Proof of Income (“POI”) and would place Client in the correct repayment plan as soon as her POI was processed On 9/19/21014, FedLoan indicated that the consolidation process was complete, however upon a follow-up, SLS found the payment terms still reflected the Standard payment plan rather than the chosen PAYE planAt this time, SLS again contacted FedLoan to correct Client’s repayment plan to PAYE, and applied for a forbearance for Client so she would not have any payments due while FedLoan corrected their error in placing Client in the Standard repayment programSLS emailed Client to get an updated POI for FedLoan to process her into the correct repayment plan on 9/9/and 11/13/14, called Client on 12/10/14, emailed again on 12/23/14, 1/23/However, Client did not respondOn 2/13/15, Client contacted SLS regarding a bill for $ from FedLoan, which still reflects the payments due on the Standard PlanSLS sent updated information to have this issue resolved on the same dayIt appears FedLoan still has not processed her updated income and family size information sent on 2/13/ / [redacted] Style Definitions */
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 $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 $ If they could refund my money, I would be happy to close this case.Thank you, [redacted]
Client signed on with SLS on 12/23/at which time she signed the Client Agreement which states that SLS will not make any payments on behalf of Student, and that the Document Processing FEe and Monthly Maintenance and Administration Fee are fees paid to SLS and do not go towards the loan paymentsClient initialed next to each of these items, indicating that she understands and agrees **due to privacy concerns the image cannot be published[redacted] Client then signed the Welcome Video Acknowledgment which repeats that "SLS will not make any payments towards your loans on your behalf, or pay off your loans in any waySLS is a document preparation service." The video also states, "Turn up your speakers, this one is very important: The Document Processing Fee and recurring Monthly Maintenance and Administration Fee are fees paid to SLS, and do not go towards your loan payments." Client signed the Welcome Video Acknowledgment form on 10/24/2014, indicating that she viewed and understood the video in its entiretyPlease See Attached Welcome Video Acknowledgment form SLS prepared Client's consolidation and Pay As You Earn repayment plan application, and Client's loans were successfully consolidated on 5/27/ Client qualified for $payments under the PAYE repayment planIt was explained to Client that her monthly student loan payments under the PAYE plan are based on income and family size, as calculated by the Department of EducationUnder PAYE, Client is on a year repayment planThe $ payments qualify towards the payments required under the year planMore information on PAYE can be found the Department of Education (DOE) website: https://studentaid.ed.gov/sa/repay-loans/understand/plans/income-driven SLS has given Client the disclosures regarding the fees and services several times through different mediums, and Client signed the Client Agreement and Welcome Video Acknowledgment indicating that she understood that SLS does not make any payments on behalf of the Client and that the fees do not go towards the loansSLS has e-mailed Client a request to set up a time to discuss her complaint, as she has requested that SLS does not contact her via phone call Client can access her loan information at any time through the National Student Loan Data System: https://www.nslds.ed.gov/nslds/nslds_SA/ Client cancelled SLS services on 2/22/16, and will have to complete her renewal on her own, with FedLoan by June / [redacted] Style Definitions */
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 loansAlso attached is the Client Agreement where this information is repeated on the Important Information PageClient signed both documents on 12/30/