AES/PHEAA Student Loan Complaint

Non-federal student loan Dealing with my lender or servicer don't agree with fees charged

AES/PHEAA Student loan department,

Non-federal student loan Dealing with my lender or servicer Don't agree with fees charged California

I believe that the 8 % interest rate on my consolidation loan rate is fraudulent. I have tried multiple times, without success, to find out from AES, the consolidation loan servicer, how this rate was calculated. According to the loan document small print : " The maximum interest rate on this loan will be equal to the weighted average of the interest rates on the loans consolidated ... '' The rates on the original loans range from 3.45 % -3.6 %. Logically, the rate on my consolidation loan should fall somewhere in that range as well, yet I have been paying 8 % since 1997. I want my loan to be re-calculated at the correct rate and any overpayments i may have forwarded to be returned to me at 8 % interest.

AES/PHEAA customer in California
Nov 07, 2016

* Source: CFPB Complaint Database

AES/PHEAA response to complaint:
Closed with explanation

Consumer disputes how AES/PHEAA handled their complaint

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