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Direct Loan Servicing
Overall Satisfaction Rating
1.05/5
  • 5 stars
    0
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    2
  • 1 stars
    40
Based on 42 ratings
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Direct Loan Servicing

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Direct Loan Servicing Reviews

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Rated with 1 star
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Verified Reviewer
Original review: Feb. 15, 2019

I was supposed to enroll in a loan forgiveness plan for public services in 2016. I did all the process that they requested. Submitted my job verification in the form that they requested, and then I called to verify that everything was received and correct. I spoke with a representative at that time and He told that was everything correct and from that date my payments will up to 120 payment or 10 years and my loan will forgive, but now in 2019 I received an e-mail from them. Stated that I must to log in in my account and request my public services loan forgiveness, I call and this time they told that I never my payment when through that plan that I applied in 2016 and all I was doing just regular payment. So stay away from this company. Is just trying to scam and take advantage of all the loan students. And by the way, the customer services is horrible. Waiting time to answer the phone call is 30 minutes.

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Rated with 1 star
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Verified Reviewer
Original review: Nov. 21, 2017

I switched my student loans over to fed loans under the false pretense of "loan forgiveness". I was assured that I was approved and that they would notify me of how many of my previous payments would go toward my loan forgiveness. 90 days came and went and they never contacted me. When I call I get the runaround - they tell me they are still counting my payments and that it could be worth of 6 months before I hear. Also - they raised my payment. I should have just stayed with Direct Loan - trying to get myself out of this mess.

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Rated with 1 star
Verified Reviewer
Original review: April 14, 2017

This company is a complete scam! I paid three consecutive payments to them beginning in November 2016 and then I was told that I wouldn't have to make any more payments to them and that they would only need to verify my income each year. HOWEVER, I saw today that my credit report has taken a hit as I am now over 100 days late on my federal loan payments that this so called company was supposed to be handling! I know how to dispute this claim! Then when I call, they don't know what is going on or say they will get back to me. Then I was told I was being transferred to the processing department and they hung up on me! DO NOT USE THIS COMPANY!!!

16 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 26, 2017

January was my first month starting direct debit and I am completely frustrated. Since I signed up in December they told me that I may have to still set-up a manual debit for my January payment. My payment was due on January 15th, but when I checked my account on January 17th I saw that I was past due on my payment. So of course I created a manual debit on January 17th. Today I looked at my bank statement and it looks like they debited me 2 payments of $346 on January 18th. Of course, they say it's nothing they can do about it and that I need to dispute them with my bank. That is almost $700, what if people are not rolling in dough! They claim that since January 15th was a Sunday it took 3 days for them to debit me. But magically the debit processed on the 17th. Only took 1 day. They are scammers. Beware of the direct debit!

11 people found this review helpful
Rated with 1 star
Original review: Dec. 9, 2016

I am so frustrated with the incompetence of my grad school loans provider, Fed Loans. Everything was fine until I needed to update my direct debit account. I updated my information twice with a representative on the phone - and now this is the third time they've charged my expired account! I don't know what to do anymore except to give up and lose my .25% interest rate reduction. It took 3 business days for a representative to respond to my email telling me what I already know - that, yes, they tried to charge my expired account again.... I feel like hitting my head against a wall; my email clearly outlined the situation. What really angers me is that this email tells me that they are alerting credit agencies to the now, late payment - which the last representative assured me that they didn't do.

The second time they did this, they sent only my parents (co-signers) a letter in the mail about the expired account and late payment - and then didn't include any details about what account! I have several brothers and sisters with loans they are paying and/or consigning so you can imagine the confusion. Management needs to get their act together over there and address customer service and their overall operations. It's a disgrace.

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4 people found this review helpful
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Rated with 1 star
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Verified Reviewer
Original review: June 26, 2016

I will be consolidating away from this company as quickly as possible. Their communication is spotty at best, their loan terms are anything but amicable, and their customer service department espouses a "We will talk to you if we really want to; otherwise, screw you" perspective.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 6, 2016

I received 16,000 in TEACH Grants while I was in school. You have to teach for 4 years at a Title I school and you have to certify each year that you teach. The first year I sent in the paperwork and was fine. The second year they did a big renovation at the TEACH Grant department and they moved everything online and I never got notification about certification. Last year I got notification that I needed to certify, however, they said they had never received a single certification for me. I took my paperwork to the school I had taught at, but it was right before Christmas break so the school district mailed me back the paperwork. I then forwarded on to FedLoan. I received a letter saying that my grants were converted to loans. I contacted FedLoan and was told I could send in my paperwork during my grace period. I sent it in and when I called about the paperwork they said there was nothing they could do because they were converted to loans!!!

I just don't understand. If I am currently teaching and fulfilling my requirements how can they feel good about converting the grant into a loan with accumulated interest!!! It is a SCAM. You should be able to clear up miscommunications in paperwork if the person is teaching! The lady I spoke to was super sweet, but their policy is a scam.

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9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 2, 2016

This company is very inconsistent and the communication is flawed. Please do not EVER use them to service your student loans. They will make unauthorized changes to your account and encourage you to do multiple forbearances. This is so they can collect extra interest on your student loans. They will not consolidate your loans. They will charge interest on each of them and let it pile up. Consider this complaint a warning to you. Don't do it!

12 people found this review helpful
Rated with 1 star
Original review: June 26, 2015

I met and still meet all the requirements of this program. I still teach in a high need school and I have taught in a high need school and low income school for 10 years. I received $2000 from this program. Because I checked the wrong box in the paperwork you have to sit in back each year verifying your employment. They converted my grant to a loan. I did not know and did not send back a corrected form in time. I wrote a letter of appeal once it was converted and they denied it. Since then, they have sent it to several collection agencies and I just found out that I will not get my 2014 federal refund because they are taking it to pay the grant. What's horrible is that I am still a teacher meeting all the requirements but I didn't send a form in on time. This should be against the law what they are doing.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 20, 2015

Took a job commuting 2 hours each way to teach at a Title 1 school serving the emotionally disturbed, ONLY to fulfill my TEACH Grant. Well after the 3 years of dealing with a stressful environment, commuting way further than I needed, and compromising other job offers, I was scammed out of my Teach Grant. They claimed they never received my intent, and that they tried to contact me via postal mail. I didn't receive one letter, and my intent form was sent way prior to the deadline. I was unaware there was any issue with my TEACH Grant and on 2/4/15 they converted my grant into a $10,000 loan with interest.

I called to straighten the situation out, they claimed they never received my intent and that they had 0 phone calls on file from me the entire year. They asked if I had the fax receipt, which I didn't, end of conversation. A total SCAM, wasted 3 years of my life fulfilling my agreement only to be cheated and lied to. Not sure who I can even contact or turn to because every time I ask MyFedLoan for a supervisor they just pass me along to the next available agent who I assume isn't a supervisor. They also just insist I wait to file for Teacher Loan Forgiveness and to move on from my TEACH grant like it’s no big deal. Very upset over this. Teachers aren't rich. I am in the process of being married, buying a home, and raising a child, and to add $10,000 onto my loans isn't right.

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15 people found this review helpful
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Direct Loan Servicing Company Information

Company Name:
Direct Loan Servicing
Website:
studentaid.ed.gov
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