Discover Student Loan Complaint

Discover Student loan department,

Non-federal student loan Dealing with my lender or servicer Illinois

I borrowed thru ' Discover - loans which is serviced by - -. My issue is, I am unable to obtain an accurate balance on my loan from - -. As a result, I am unable to either payoff my loan OR ensure that monthly installments are accurately calculated. ISSUES:1 ) I set up an auto payment to stay current on my interest payment. - - refuses to pass on the 0.25 % APR reduction offered by Discover Financial for setting up Auto Payment. 2 ) My loan went into repayment -/-/- and as mandated, I received the Truth In Lending. However, there were also errors in my TIL and I called to report them. The customer service agents at - - has been passing the buck on to Discover Financial and have been unable to share details on how my payments and if any APR reduction/discounts were applied. 3 ) The loan servicer 's website is poorly managed and lacks transperancy. There is no information on how payments were applied and the current accurate APR is not displayed either. 4 ) For example - - restricts customer payment history. They go back only one year. The interest rate shown


exactly '' match with what Discover states on its website ( 4.477 % ). SPREAD OVER 240 PAYMENTS THIS IS A VERY LARGE DISCREPANCY. 5 ) The repayment commencement date ( when the loan is scheduled to go into repayment ) is also not posted on - - website. As a result customers are not able to calculate the interest due accurately. RESOLUTION E-PECTED : I need the CFPB 's help in obtaining an accurate Truth in Lending document. Also, given its oversight, I urge CFPB to work with the above lender and servicing agent to ensure that student loan borrowers have better and ready access to ACCURATE and CURRENT information on their loans. Thus, the student borrower community is not put through unnecessary hardships in PROMPTLY AND ACCURATELY PAYING OFF their loans.