Utah System of Higher Education Student Loan Complaint

Utah System of Higher Education Student loan department,

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

My Loan, previously owned by -, was transferred ( or bought ) by a company called UHEAA ( Utah Higher Education Assistance Authority. Before buying my loan, I had just under $5000.00 remaining on the loan at 6.55 % interest. To avoid paying tons of extra money to the lender, I was repaying the loan at $240.00 per month, which was above the $130.00 minimum payment because every responsible recommendation has said pay loans back as fast as you can, not only at the minimum. Once UHEAA bought my loan, one payment was processed for the $240.00, but then they reduced the automatic monthly payment down to the minimum $130.00. I moved outside the country after university, so I have all my payments automated. To amend them is onerous from outside the country. So UHEAA


this predatory tacit, and though they think they are paying over the minimum payment, they are now back at the minimum payment. I consider the predatory and illegal. I received an email from UHEAA on - -, - stating : " If you have been making automated electronic payments to -, your bank account information will be transferred to us, and no action is required in order to continue the automated electronic payments '' I contacted UHEAA on - - with the below email and have received no reply : Hello, After acquiring my loan from -, it appears UHEAA has reduced the amount that I was paying by Direct Debit. For years, I have been paying $240.00 per month, which is more than the minimum payment on my loans. After acquiring my loan, it appears UHEAA has reduced the amount that I am automatically paying to the minimum - $130.00. I have serious concerns that UHEAA doing so is actually illegal. Had I not noticed that the amount has ben changed, then I would be paying off the bill for longer, and UHEAA getting more interest. Can you please notify a manager of this and get back to me as soon as possible, informing me 1 ) Whether this is standard practice or is it illegal activity that constitutes predatory lending practice, and - ) that you will change my direct debit amount back to $240.00. Do not reply to my request informing me that I can re-register my bank details and start a new scheduled payment amount - it is your responsibility as the new lender to carry on my parents as before without interruption. Can you also inform me of what agency or department does independent oversight of your operations? Sincerely, - -. ( Payment details for first - UHEAA payments post-- attached below ) -/-/- Borrower Payment $130.00 $4000.00 View Details for this loan This payment was applied to the following loans : Disb. Date Loan Type Principal Interest Late Fee Totals : $100.00 $23.00 $0.00 -/-/- FEDERAL STAFFORD LOAN $42.00 $9.00 $0.00 -/-/- FEDERAL UNSUB STAFFORD LOAN $64.00 $14.00 $0.00 -/-/- Borrower Payment $240.00 $4100.00 View Details for this loan This payment was applied to the following loans : Disb. Date Loan Type Principal Interest Late Fee Totals : $210.00 $23.00 $0.00 -/-/- FEDERAL STAFFORD LOAN $87.00 $9.00 $0.00 -/-/- FEDERAL UNSUB STAFFORD LOAN $130.00 $14.00 $0.00