AES/PHEAA Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer received bad information about my loan

AES/PHEAA Student loan department,

Non-federal student loan Dealing with my lender or servicer Received bad information about my loan Wisconsin

I am the co-signer on the loan for my son. He is unable to take off work to submit a complaint. - College in -, WI is the name & location of the school. We took out this loan in - and were not provided with the note disclosure statement which said that the total amount due by the end of the payment period was $46000.00. Had we seen that paperwork, we would n't have taken out the loan. Due to our lack of ability to make all of the payments on time, our $12000.00 loan now has a balance of $13000.00 as of -/-/-. We contacted AES the servicer to determine how we could rectify this situation and were told to make $73.00 payments. We began making $75.00 payments - - of -. We were unaware that the payments being made were only covering the interest. Our payments have increased to $160.00 a month and have been consistent since - of -. We understand that our interest has accrued due lack of payment but since we were not made aware of the full amount we would be required to pay, we would like a concession on the remaining balance.

AES/PHEAA customer in Wisconsin
Feb 05, 2016

* Source: CFPB Complaint Database

AES/PHEAA response to complaint:
Closed with explanation

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