Genesis Lending Student Loan Complaint

Non-federal student loan Can't repay my loan can't temporarily postpone payments

Genesis Lending Student loan department,

Non-federal student loan Can't repay my loan Can't temporarily postpone payments New Jersey

In - of 2012 I inquired about obtaining a degree in -. I was soon bombarded by phone calls from the - - and finally was scheduled for an in person meeting with a counselor in the - -, NJ location. I was - years old and unsure of what I wanted to do with my life. My counselor convinced me that the medical assistant program was for me because I would be certified in 9 months and - would help me secure a job after my graduation. Even when I hesitated and told my counselor I wanted to possibly start in -/-/-, he insistent that I start by -/-/-, meaning I had less than 3 weeks between my first introduction to the - -, to when I would start the medical assisting program. This was short time to make a decision. When I met with the financial services representatives at - they quickly told me they could secure a loan with the Genesis Lending Services to cover the cost of school remaining after federal loans. Again, I was - years old and did not have a parent or guardian present to help with my decision ; just the knowledge that I was now starting school in less than 3 weeks and needed the funds to pay for it. The interest of my loan or how long it would take me to finish payments was never explained to me. I feel the - - in - -, NJ pressured me into enrollment and further more encouraged me to make an irresponsible decision in obtaining a private loan from the Genesis Lending Service.

Genesis Lending customer in New Jersey
Feb 26, 2016

* Source: CFPB Complaint Database

Genesis Lending response to complaint:
Closed with explanation

Created with Highcharts 4.2.3Genesis LendingComplaint HistoryComplaints2/20143/20148/20149/201410/201411/201412/20141/20152/20153/20154/20155/20156/20157/20158/20151/20162/20164/20167/20160510152025Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Genesis LendingCan't repay my loan100.0%Closed with explanationSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageCan't repay my loan0.4%88.5%4.8%5.2%1.1%0.1%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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