AES/PHEAA Student Loan Complaint

AES/PHEAA Student loan department,

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

I have a small private student loan with American Education Services with -. My loan is in good standing and I make regular payments well above the minimum and have an auto-debit feature for increased payments. On - -, 2016 I entered -. On - -, 2016, AES processed an automatic enrollment in a deferment without my knowledge and against my best interest since I was at least a - student.


An agent of AES contacted me via email and claimed that it was in my best interest to have the loan in deferment, since the loan was subsidized and I would not pay interest. I responded immediately via email that the loan was not subsidized and a deferment was not in my best interest because not only would the interest accrue but I would lose the rate reductions in place on my automatic payments and the loan interest rate itself would rise because they charged more during deferment periods than payment periods. The agent claimed that was not true but they could process a removal of the deferment. I responded via email to reverse the deferment, it was not in my best interest. Another agent responded via email that I was in fact right, and they could reverse the deferment and put my loan status and payments back as they were, but they would not accept any more email communication and they would not correct the loan status until I write them another communication via post. The loan is small, the rate is small, and the interest charged in violation is small, so It would not be in my best interest to escalate to the point of damages, but these agents have fiduciary responsibilities to service accounts in the person 's best interest and can not change the considerations to the agreement to best fit their bottom line especially when a violation like this is immediately caught, protested, and a request to return to a payment status is made.