Client called in to cancel on 5/8/2015, but decided to stay
on with SLS after speaking with a representative about the benefits of staying
on including the preparation of the upcoming Income Based Payment plan renewalSLS attempted to process Client's renewal on 5/15/2015, however
SLS needed
additional information from ClientSLS called Client on 6/2/2015, 6/9/2015,
8/12/2015, and 11/13/2015 for the
additional informationBecause Client did not respond to the calls or emails, SLS could not prepare the necessary documents for renewal of her income dependent repayment plan, and Client was drafted a student loan payment by her loan servicer under the Standard repayment plan, for a much higher paymentOn 11/13/2015, SLS sent Client a notification via
email, voicemail and postal mail that if Client did not respond or contact SLS,
Client would be droppedClient did not respond, and was dropped on 11/30/
Client has not been charged any monthly fees since 11/30/2015.
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I consider this a scam and taking money away for a solution that would more thab years to resolve as per government agencies
I am asking for my application fee back and money taken out of my account
Regards,
*** ***
Ended up paying hundreds of dollars plus monthly thinking that my loans would be consolidated and I could afford to repay......I find that the only thing that I've able to pay is the auto de it from Student Loan Services.Still not able to pay my loan, not to mention I was advised by agent with Federal Student loans that I could have consolidated with them for no charge!! Why is Student Loans Service allowed to mislead and charge students
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, 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,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Upon initially signing, I was told clearly that about $5,would be forgiven from my total of $12,debt after I went through year of service with SLSYes I was told I could do it myself without paying a 3rd party BUT their service was recommended to use for at least year to see how to use and if I felt comfortable, I could continue to manage my account after yearUpon speaking to a Fed Loan representative, I told them I was paying a 3rd party to manage my account and they told me it is illegal to have anyone but myself login into my account pretending to be meSo in that case, their service does NOT coincide with Fed Loan to service any one because first of all they should not be logging into anyone's account on behalf of themThis, I was not aware of
Regards,
*** ***
I was told by this company that they would forgive my student loan debtFor $445, they said they would take care of my debt from and I would pay them a service fee of $per month to do it
I was also told that after years if my loan was completely paid off, my loan would be forgiven
Then I received notices from the Department of Education stating that my loan was deferredWhy would I defer my loan, I want to pay my loan not ad more fees to itI tried contacting *** ***, he was the one that signed me up and also told me that $of the fee would go toward my loans and the rest would be to them for their fee
However, I was unable to get into contact with himIn fact every time I talk to someone, it's always a different personNever the same the personI have spoken with different people since I began my service with this companyI called many times asking why am I receiving notices from the Deptof Education, however they reassured me that everything was fine and
They have been taking out of my account and I have tried to contact them several times and can't get thru as to why they are taking money out when student loan services are not servicing the loan Navient is servicing the loan
This
issue has already been resolvedClient signed
onto our services on 9/26/14,
and scheduled her first payment to debit on 10/17/Client called in to
cancel on 9/29/14, at which time she was cancelled and all debits were turned
offA follow up email confirming cancellation was sent on 9/29/SLS sent
out an automated payment reminder e-mail on 10/15/14, however this email was
sent in error and no payments were actually scheduledWe apologize for this
error and the automated email reminder system is currently being reviewedOur
records show one voice message left by Client on 10/13/at 3:01PM which was
returned on 10/16/2014, explaining to Client that he was indeed cancelled on
9/29/14, and all payments were cancelled
Client
was cancelled on 9/29/and has never been debitedTherefore, we believe this
issue has been resolved in its entirety
*** ***, COO
***
As stated previously, SLS contacted Client numerous times
for her to submit the signed documentsClient did not respond or submit the
documentsAgain, SLS contacted Client continuously for months, on 12/5/2014,
12/17/2014, 12/29/2014, 2/2/2015, 2/18/2015, 2/25/2015, 3/3/2015, 3/17/2015,
and 3/25/to submit the missing documentsClient failed to respond or to
send them inClient had numerous emails and voice messages requesting the
signed documents to be sent inWhen documents are sent in, an automatic
receipt is sent out so that both SLS and the client have a record of the
submissionIn this case, neither Client nor SLS shows a record that the
documents were sent inThe process cannot move forward without the signed
documentsAs a courtesy, a refund will be issued, however, for future reference it should be noted that SLS cannot take responsibility for Client's failure to send in
requested documents in a timely manner
SLS discloses
that they are a private third party, not affiliated with the DOE or
governmental agency on the Client Agreement, the website, pre-Client Agreement
email, and welcome videoThe Document Processing Service Fee is to process the
student loan consolidation applicationThe fees are also explained in the
Client Agreement, pre-Client Agreement email, and welcome videoThe fact that
Client can apply for a consolidation without paid assistance is also repeated
on the website, Client Agreement, pre-Client Agreement email, and welcome
videoWe apologize if Client experienced confusion on any of these points
Client’s loan disbursed 8/27/was left off of her original consolidation because
this loan had an in-school status until 8/8/when it went into a grace
period of monthsIt was explained to Client that she could then add the loan after
her grace period ended by reconsolidating, or place the loan on an income based
repayment plan on its own so she would
not have to restart the clock towards her repayment plan benefitsClient has
been issued a full refund on 2/12/
I have been trying to reach Student Loan Services for days both via email and phone I recently received an email that they were changing the company in which the $fee/mothat I pay them comes out and I should put my credit card information in the link they have provided I wanted to be sure this was not a scam Every time I call the phone keeps ringing and no one answers and no one responds to my email I called *** *** today which is who they consolidated my loan with and they proceeded to tell me that this was probably a scam and a lot of these companies just take your credit card information and you never hear from them again All that is need is for an application to be filled out once a year with *** ***, there is no reason I should be paying a third party company $39/month I am unable to cancel charges with Student Loan Services through my bank unless I cancel the entire card which is a hassle for me I want to cancel both payment and working with Student Loan Serv
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
My student loan account has been temporarily closed twice now due to suspected hacker attemptsThis company continues to ask for all of my access code information via email which is not secureI have asked for weeks now to be put in touch with someone who could help meI get a short answer "someone will," every 3-days and no one ever does reach out
I get extremely frequent emails whenever they need money from me, but when I'm actually concerned over the handling of my most personal information and have a potential hacker situation I can't get someone to contact me
I wish this company were more interested in actually helping their customers get out of debt than just their bottom lineMaybe then they'd have an employee stick around longer than a week (I literally get a new account person every weekI emailed each account person out of the 1) that I've been in contact with over my year working with them so I could try and get this present issue resolvedEvery single email
I have been working with this company since December of I just found out for the second time in Feb that another one of my loans was not consolidatedThis company came recommended to me from the FAFSA program where all of my student loans originated fromI applied for consolidation years after graduating from collegeEvery time this happens I am given the run aroundI paid $up front for service and was insured that it would be a smooth and easy processYes my school payments came down from $per month to $but I am also paying a monthly fee for their services that I currently feel is a waste of my hard earned dollarsI have been beyond frustrated since starting with this company just over a year ago and I fear although I am on a loan forgiveness track I may not qualify just due to sheer disconnect with themI have held up everything on my end why is it that they keep dropping the ball
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, 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,
*** ***
To whom it may concern:I am sorry that I did not reply before the complaint was closed The company did contact me and offered me a full refund I just received the refund on Monday, and wanted to make sure it went through before I responded I see that the documentation is clear that they not the government, that are offering a service and I could choose to fill out the paperwork myself, however, the representative went over the contract with me over the phone, and I do not remember these points being made clearly at all By the representative, I was still lead to believe that they were helping the government for me to have access to the PSLF program, and I was not aware that I would be charged a fee I am satisfied with the full refund, but still think that the phone reps need to be more clear with the service they are providing and the fees charged, and the choice that the consumer has to fill out the paperwork themselves for free Thank you Revdex.com for your help The company had refused my request for a refund prior to my Revdex.com complaint.Sincerely, ***
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
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This complaint has already been resolvedAs a courtesy, SLS has issued a refund for the monthly service fees of $At the time of sign-on, Client signed the Acknowledgment form and Client Agreement which both reiterate that the Monthly Maintenance and Administration Fees go to SLS and do not go
towards the balance of the student loansClient signed the Acknowledgment form and the Client Agreement indicating that she understood and agreedSLS was able to successfully gather Client's information and Client's loans were consolidated through the Department of Education under the Income Based Repayment planClient's renewal application was denied because she increased her family size from to 10, and FedLoan, the loan servicer, denied the application, asking for proof of family size in the form of bills paid or tax returns showing the dependentsIf Client is able to show proof of family size, SLS will be able to assist Client in getting her renewal application approved
Client called in to cancel on 5/8/2015, but decided to stay
on with SLS after speaking with a representative about the benefits of staying
on including the preparation of the upcoming Income Based Payment plan renewalSLS attempted to process Client's renewal on 5/15/2015, however
SLS needed
additional information from ClientSLS called Client on 6/2/2015, 6/9/2015,
8/12/2015, and 11/13/2015 for the
additional informationBecause Client did not respond to the calls or emails, SLS could not prepare the necessary documents for renewal of her income dependent repayment plan, and Client was drafted a student loan payment by her loan servicer under the Standard repayment plan, for a much higher paymentOn 11/13/2015, SLS sent Client a notification via
email, voicemail and postal mail that if Client did not respond or contact SLS,
Client would be droppedClient did not respond, and was dropped on 11/30/
Client has not been charged any monthly fees since 11/30/2015.
Revdex.com:I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
I consider this a scam and taking money away for a solution that would more thab years to resolve as per government agencies
I am asking for my application fee back and money taken out of my account
Regards,
*** ***
Ended up paying hundreds of dollars plus monthly thinking that my loans would be consolidated and I could afford to repay......I find that the only thing that I've able to pay is the auto de it from Student Loan Services.Still not able to pay my loan, not to mention I was advised by agent with Federal Student loans that I could have consolidated with them for no charge!! Why is Student Loans Service allowed to mislead and charge students
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, 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,
*** ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below
Upon initially signing, I was told clearly that about $5,would be forgiven from my total of $12,debt after I went through year of service with SLSYes I was told I could do it myself without paying a 3rd party BUT their service was recommended to use for at least year to see how to use and if I felt comfortable, I could continue to manage my account after yearUpon speaking to a Fed Loan representative, I told them I was paying a 3rd party to manage my account and they told me it is illegal to have anyone but myself login into my account pretending to be meSo in that case, their service does NOT coincide with Fed Loan to service any one because first of all they should not be logging into anyone's account on behalf of themThis, I was not aware of
Regards,
*** ***
I was told by this company that they would forgive my student loan debtFor $445, they said they would take care of my debt from and I would pay them a service fee of $per month to do it
I was also told that after years if my loan was completely paid off, my loan would be forgiven
Then I received notices from the Department of Education stating that my loan was deferredWhy would I defer my loan, I want to pay my loan not ad more fees to itI tried contacting *** ***, he was the one that signed me up and also told me that $of the fee would go toward my loans and the rest would be to them for their fee
However, I was unable to get into contact with himIn fact every time I talk to someone, it's always a different personNever the same the personI have spoken with different people since I began my service with this companyI called many times asking why am I receiving notices from the Deptof Education, however they reassured me that everything was fine and
They have been taking out of my account and I have tried to contact them several times and can't get thru as to why they are taking money out when student loan services are not servicing the loan Navient is servicing the loan
This
issue has already been resolvedClient signed
onto our services on 9/26/14,
and scheduled her first payment to debit on 10/17/Client called in to
cancel on 9/29/14, at which time she was cancelled and all debits were turned
offA follow up email confirming cancellation was sent on 9/29/SLS sent
out an automated payment reminder e-mail on 10/15/14, however this email was
sent in error and no payments were actually scheduledWe apologize for this
error and the automated email reminder system is currently being reviewedOur
records show one voice message left by Client on 10/13/at 3:01PM which was
returned on 10/16/2014, explaining to Client that he was indeed cancelled on
9/29/14, and all payments were cancelled
Client
was cancelled on 9/29/and has never been debitedTherefore, we believe this
issue has been resolved in its entirety
*** ***, COO
***
As stated previously, SLS contacted Client numerous times
for her to submit the signed documentsClient did not respond or submit the
documentsAgain, SLS contacted Client continuously for months, on 12/5/2014,
12/17/2014, 12/29/2014, 2/2/2015, 2/18/2015, 2/25/2015, 3/3/2015, 3/17/2015,
and 3/25/to submit the missing documentsClient failed to respond or to
send them inClient had numerous emails and voice messages requesting the
signed documents to be sent inWhen documents are sent in, an automatic
receipt is sent out so that both SLS and the client have a record of the
submissionIn this case, neither Client nor SLS shows a record that the
documents were sent inThe process cannot move forward without the signed
documentsAs a courtesy, a refund will be issued, however, for future reference it should be noted that SLS cannot take responsibility for Client's failure to send in
requested documents in a timely manner
Refund was sent on 4/23/via certified mail, tracking #:
***.Please call us to verify receipt
I have reasons to believe I have been paying "student loans" to a scammer
SLS discloses
that they are a private third party, not affiliated with the DOE or
governmental agency on the Client Agreement, the website, pre-Client Agreement
email, and welcome videoThe Document Processing Service Fee is to process the
student loan consolidation applicationThe fees are also explained in the
Client Agreement, pre-Client Agreement email, and welcome videoThe fact that
Client can apply for a consolidation without paid assistance is also repeated
on the website, Client Agreement, pre-Client Agreement email, and welcome
videoWe apologize if Client experienced confusion on any of these points
Client’s loan disbursed 8/27/was left off of her original consolidation because
this loan had an in-school status until 8/8/when it went into a grace
period of monthsIt was explained to Client that she could then add the loan after
her grace period ended by reconsolidating, or place the loan on an income based
repayment plan on its own so she would
not have to restart the clock towards her repayment plan benefitsClient has
been issued a full refund on 2/12/
I have been trying to reach Student Loan Services for days both via email and phone I recently received an email that they were changing the company in which the $fee/mothat I pay them comes out and I should put my credit card information in the link they have provided I wanted to be sure this was not a scam Every time I call the phone keeps ringing and no one answers and no one responds to my email I called *** *** today which is who they consolidated my loan with and they proceeded to tell me that this was probably a scam and a lot of these companies just take your credit card information and you never hear from them again All that is need is for an application to be filled out once a year with *** ***, there is no reason I should be paying a third party company $39/month I am unable to cancel charges with Student Loan Services through my bank unless I cancel the entire card which is a hassle for me I want to cancel both payment and working with Student Loan Serv
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
My student loan account has been temporarily closed twice now due to suspected hacker attemptsThis company continues to ask for all of my access code information via email which is not secureI have asked for weeks now to be put in touch with someone who could help meI get a short answer "someone will," every 3-days and no one ever does reach out
I get extremely frequent emails whenever they need money from me, but when I'm actually concerned over the handling of my most personal information and have a potential hacker situation I can't get someone to contact me
I wish this company were more interested in actually helping their customers get out of debt than just their bottom lineMaybe then they'd have an employee stick around longer than a week (I literally get a new account person every weekI emailed each account person out of the 1) that I've been in contact with over my year working with them so I could try and get this present issue resolvedEvery single email
I have been working with this company since December of I just found out for the second time in Feb that another one of my loans was not consolidatedThis company came recommended to me from the FAFSA program where all of my student loans originated fromI applied for consolidation years after graduating from collegeEvery time this happens I am given the run aroundI paid $up front for service and was insured that it would be a smooth and easy processYes my school payments came down from $per month to $but I am also paying a monthly fee for their services that I currently feel is a waste of my hard earned dollarsI have been beyond frustrated since starting with this company just over a year ago and I fear although I am on a loan forgiveness track I may not qualify just due to sheer disconnect with themI have held up everything on my end why is it that they keep dropping the ball
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, 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,
*** ***
To whom it may concern:I am sorry that I did not reply before the complaint was closed The company did contact me and offered me a full refund I just received the refund on Monday, and wanted to make sure it went through before I responded I see that the documentation is clear that they not the government, that are offering a service and I could choose to fill out the paperwork myself, however, the representative went over the contract with me over the phone, and I do not remember these points being made clearly at all By the representative, I was still lead to believe that they were helping the government for me to have access to the PSLF program, and I was not aware that I would be charged a fee I am satisfied with the full refund, but still think that the phone reps need to be more clear with the service they are providing and the fees charged, and the choice that the consumer has to fill out the paperwork themselves for free Thank you Revdex.com for your help The company had refused my request for a refund prior to my Revdex.com complaint.Sincerely, ***
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
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This complaint has already been resolvedAs a courtesy, SLS has issued a refund for the monthly service fees of $At the time of sign-on, Client signed the Acknowledgment form and Client Agreement which both reiterate that the Monthly Maintenance and Administration Fees go to SLS and do not go
towards the balance of the student loansClient signed the Acknowledgment form and the Client Agreement indicating that she understood and agreedSLS was able to successfully gather Client's information and Client's loans were consolidated through the Department of Education under the Income Based Repayment planClient's renewal application was denied because she increased her family size from to 10, and FedLoan, the loan servicer, denied the application, asking for proof of family size in the form of bills paid or tax returns showing the dependentsIf Client is able to show proof of family size, SLS will be able to assist Client in getting her renewal application approved