AES/PHEAA Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer trouble with how payments are handled

AES/PHEAA Student loan department,

Non-federal student loan Dealing with my lender or servicer Trouble with how payments are handled Illinois

I took a student loan through American Education Services while I was going to college at - -/-/--/-/-. The original loan balance was $11000.00. I started paying the loan in -/-/- over 8 years ago and my current balance is still $9200.00. I have not missed a payment in 8 years. I receive notices several times a year that my monthly payment amount is changing though there is never an explanation as to why. I have called to request overpaying the principal each month in order to pay down the loan faster and that was denied. They said I would have to mail a separate check each month and that I could not adjust my auto-debit. I also have called to request consolidating this loan and have been told twice that it is not possible with the type of loan I have. I have - other student loans ( some federal, some private ) that are all coming down nicely and set to end in the 10 year period originally defined. I feel that this company is gouging interest and unnecessarily extending the life of the loan. If I continue on this path I will pay more than double the original loan amount and it will take over 20 years. This is unacceptable to me considering all - of my other loans do not work this way.

AES/PHEAA customer in Illinois
Nov 16, 2016

* Source: CFPB Complaint Database

AES/PHEAA response to complaint:
Closed with explanation

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