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I'll admit when I was young and in my twenties I wasn't very financially responsible. It wasn't until I was in my 30s I became much more financially aware. I graduated from college 18 years ago with a student loan debt of $37,664. When I was in my 20s my mother offered to pay on my student loan debt because she said she wanted to help me pay for college. Of course, I happily agreed. When I was in my early 30s my mother retired, and asked if I would take over my student loan payments. I said "sure, no problem".
My payments from American Education services are $435 a month. It's guess it's not the worst amount, but money gets tight. Thanks to my Liberal Arts Communications major I seem to have hit an income ceiling of about $50K a year in Corporate America, (whoopee), considering the astronomical cost of living these days. I have two young children and an husband who is about to go on disability so I recently really started digging into my finances in anticipation of his lost income.
One thing I thought it "you know, this student loan balance never really seems to go down"... I looked into my payment history with AES and was astounded, nearly fell off my chair, to discover in the past 18 years, on an original loan of $37,664 starting in the year 2000, my mother and I have paid $42,891 towards the principal and $36,855 in interest, for a total of $80,141. And here is the real kicker - AES is telling me I still owe them $37,663. So you mean to tell me I am going to pay $117,804 on a loan that was originally $37,663?! You mean to tell me all of this time, these past 18 years, I've paid $1 towards the original amount I owed you??!!
I thought there must be some mistake. Now over the course of the past 18 years I did probably do about 2-3 years of deferments. Even so, there is no way these numbers even make sense. I called AES and the first customer service rep I talked to was seriously mystified by it. She couldn't explain it. I said how are we not even??!! How is this loan not paid off??? She literally said "I don't know". I called back later and talked to a second rep who basically told me "yeah, too bad, too sad." I guess what had happened is that when I graduated from school I had about 4 separate student loans. My mom apparently consolidated these loans into 1 loan, which was probably recommended to her, and on the surface, seems to make sense. However, when that happened there apparently was a huge interest cap. The consolidation, combined with my deferments, apparently caused all of this.
I just don't understand how this is even legal, let alone moral. How can you bury people like this AES??!! Going to college was supposed to help my life, instead it seems to have done nothing except screw me up financially. I'm going to encourage my children to only go to college if they get scholarships. I've started a "higher education fund" for them, but sadly can't afford to put in any more than $50 a month for each of them because of the money AES continues to bleed from me, probably until the day I die at this rate.
I am not going to take this lying down. I am filing a complaint with the Consumer Financial Protection Bureau and the PA State Attorney General as well. It would be one thing if I paid only $15,000 since graduating college, but this is unacceptable. You can’t bury someone by charging them triple their loan amount. I will be trying to round up others to join me in a lawsuit as well.
My warning to others - unless you are getting a scholarship or are pursuing a very sought after degree - Engineering or Nursing - college is not worth it. I'm actually leaving corporate American to start my own business as a health and wellness coach, and to become a real estate agent - absolutely not worth the $117,000 I paid for a Communications degree I'm not going wind up using. That's if I am even able to pay it off - according to AES my expected pay off date is the year 2028 - after graduating from college in 2000 - if that's even accurate because I don't trust them. If anyone else is a victim of AES cruel and unusual loan practices we need to ban together. We need to fight this unethical giant. Don't buy into the lie that you must go to college to be successful.
I am trying to get my degree to become a nurse, but this loan servicer has been my biggest obstacle in trying to finish and afford school. I am a struggling college student, and now this company is making me pay back my loans during the summers and winters while I am still in school. Nearly half my low income goes to paying off these loans, while I am just trying to save up and afford school during the summer. It is like they are purposely trying to make it impossible for me to graduate, it seems to me that they want you to default on your loans so they can charge you more late fees and interest. Customer service is absolutely useless, they will not help you. I started paying my loans off early, but now that I have, they always come asking me for money whenever I get a break from school. Companies like this are despicable, don't get a loan from a lender that uses this company as their loan servicer. They have a 1 star rating for a reason.
I have worked for 10 years as a teacher at a Title I school. I was told my loans would be forgiven through the Public Service Loan Forgiveness Program and l had expressed this intent to AES in the initial contacts. I have never missed a payment. Now, AES is saying that I did not enroll in the correct payment program and none of my payments qualified, so I have to start over. How convenient right? So if you are like me please reach out and claim what we were promised. Please also take the time to email the Pennsylvania Attorney General, consumer financial protection bureau, etc.
This place is like a 1$ roadside in experience. My loan supposedly was transferred however I am unable to make a payment as my account is still not completed being transferred. People are very rude and told me to send in payment but don't know how much to send in. Why would I send in a payment if you don't even have an account open for me and can't tell me the amount to send in. I am very disgusted with this place.
My deceased husband and I each have separate accounts with AES and I didn't realize after his death that I was no longer required to pay on this loan. In March of 2018, I received a refund for the money that I had paid in since his death. The first problem was that the check was made out in his name so couldn't cash it. So I called and requested a new check made out in my name. They told me it would be sent out in 7 to 10 business days. LIARS! Called again was told I needed to send that check back to them, then they could send out a new check in my name! LIARS!
Called again and was told that it would take 30 days to review and then they could send out the "new check! LIARS AGAIN! Here we are 3 months later and still dealing with them. As in the other reviews that I have read, they don't have a clue of what is going on in the company, although they input all of this information into their computers. They must not of gone to college because they can't READ the information on their computers, They are a terrible company and I would be more than happy to join a legal action against them.
I just discovered/realized that my loan balance had not changed for the better part of an entire year, even though I have been making payments on time and every month. I called, asked and found out that so much interest accrues on my loan monthly that it barely covers the accrued interest. So nothing, no part of my monthly payments goes to reducing the principal balance. How can that be allowed. This is legalized loan sharking. Legalized exploitation!!!!
AES does not respect any of your private information. People that were unauthorized to my account contacted them and they told all my financial information without being authorized to my account. I'm changing my student loan servicer to other company. This is an humiliating nightmare.
This company bought my loan from another and I've been paying the entire loan off for a total 13 years. In that time I've paid approximately 25k, yet my balance has only gone down around 2k! With a very low fixed interest rate on a loan that is not huge. How that is possible? I've already paid almost my entire loan, yet I still owe the whole thing. This company is a complete scam, and when I call to ask for an explanation they are NO help. I was on a 15-year repayment program and still owe the entire loan with 2 years left - how is this going to be paid off EVER? Is anyone starting a class action lawsuit?
Paid off my loan using their online tool to calculate the exact payoff amount based on date of payoff. When the amount came through my bank account, checked to make sure the payment was reflected on the AES website. It was not. I waited for 2 days, then the amount was reflected but there was still an additional $13.99 on my account. Called since there was clearly an error and got a huge runaround that I paid the wrong amount, that the amount I paid was from 3 weeks prior. I did pay the $13.99 and fully expect to see what, $5.99 as a balance despite doing the same exact process. So if you pay off your loan early, expect to get charged for it. Reporting them to BBB which is also a joke of an organization but these kinds of business practices HAVE to stop.
This company bought my student loans and have on numerous occasions gone against my original contract and changed criteria in my loan. They have taken me off of auto withdrawal which raises my interest rates (I've either put myself back on or had to complain so they put me back), changed my monthly loan payments (they lowered them when I am trying to pay ahead so I can pay off), and put me on deferment without my permission (I paid in cash for a couple college classes, this has nothing to do with them).
I have paid ahead in my loans for a real long time and they keep breaking rules and harassing me by going on my account for no reason and changing info. Calls are always "promised" but not followed through with what they tell me. I have been going through BBB and other agencies attempting to resolve these issues and they do not even appropriately respond to any of my complaints. They basically copy and paste the same message.
I received a loan from AES back in 2005 and started repaying them in 2008. I have been repaying my loan for 10 years now and literally still owe what I originally borrowed in 2005. I was young and should have looked into the loan before getting it because now I feel like I will be paying them forever. I've already paid them back over 20,000 dollars which is more than I borrowed, how can I still owe them the original balance. Also, they continue to raise my interest rate which is ridiculous since all my money goes to interest as is. Someone should really be investigating their practices, they are ruining people's lives.
I tried to get loans from AES back in 2001. They treated me like a last priority because my Parents did not have income. I was on my own. I figured it out, got my loans, and you know the song and dance from there. I was still struggling to pay back until I was referred to a place called Academic Financial Support Center (AFSC) in Irvine, CA. They helped get me enrolled in a Federal program I had NO idea existed and I paid $10 a month for 36 months. After that my loans were completely forgiven! Our President has stated he is cleaning up shop and eliminating these loan forgiveness programs. Get in while you still can!!!
First damage by this company: AES/CIS ED placed a 60-days-late Sep 2011 on my credit report in error. In Jun-Jul 2011, my loan was transferred from XPRESS LOAN SERVICING to AES/CIS ED and AES/CIS ED neglected to continue my long-established, contract auto-debit payments when they became the new servicer of my loan in Jul 2011. When I realized their error, I contacted them immediately. I should not have been penalized for their clerical error. I have tried several times to get the 2011 negative, 60-day-late notation taken off of my credit, and hit has cost me higher interest rates on loans over the past seven years.
Second damage by this company: In March of 2012, I paid my student loan balance in full, however, in Mar of 2017, AES/CIS ED started reporting to the three credit reporting bureaus that I was once again making payments, but was 60-days-late Jul 2017, and then they reported that my account was again closed in Jan 2018. This is another clerical error made by AES/CIS. My account has been paid in full since Mar 2012, NO payments due, NO balance due since March 2012, therefore should be NO reporting at all for the period Apr 2012-2018. I have been trying to resolve this issue with AES/CIS ED and they are treating me as though it is me that has made some error.
Their customer service is sorely lacking while they damage my credit and hinder my ability to refinance my home. This is the second time this company has damaged my credit and their representatives speak over the top of my words as I try to ask them to please look at their own accounting and correct their errors! This second erroneous notation of a 60-day-late payment Jul 2017 on an account that has been closed since 2012 is egregious and if not resolved immediately, I will take legal action for damages. Enough is enough!
We have been trying to refile our IBR status with this company now for 4 months. They have successfully lost our paperwork, insisted on paperwork that is not required by student loan.gov and claimed to be able to resolve our issues before our payments were to restart. Now, we are being threatened with emails that our accounts are past due and may be defaulted. This is not the first time this has happened. They insist that they are working on issues and then say that they have never been asked for what you are requesting. This happens every time that we have to do our recertification paperwork.
On top of this, they are constantly changing interest rates and we now owe 3X the original loan amounts. When you ask them to make records on your files of conversations, they do not. Even when you speak to a customer service manager. I do not recommend this company to anyone. I also suggest that if you have an issue with them to file a complaint with the CFPB.
Seeing how most of these reviews are by students/borrowers who are still paying/defaulted on their loans, here is an opinion of someone who has paid them off. I borrowed approximately $22,000 in loans from PNC/AES from 2013 through 2015. I spent approximately two years paying off the loans on a salary of $40,000. Below is a pros/cons list of the company and website:
Pros: Can make and apply payments of any quantity outside of the regular auto-payment, this is extremely useful for trying to pay down a loan using the avalanche method. The customer service is U.S. based and generally the wait times are low(er). I have contacted AES roughly 25 times over four years and have always gotten a somewhat satisfactory/informative answer. Website interface is easy/instant chat support is useful and convenient. Company seems to be making a genuine effort to update and streamline the overall student loan repayment process.
Cons: Services reps could be more knowledgeable, sometimes information can be conflicting. Although website is simple, many links have lost their functionality/don't work. Once you have paid off your loans the payment transaction history is frozen, in order to see your payment transactions you have to contact the company and request them (7-10 business days processing time). Website alerts don't synchronize with the Dropbox/uploading tool. Sometimes a new document is in my AES inbox and I will not get an alert. This can be problematic for time sensitive items.
Do not trust anyone at this company. I called regarding a rebate that was on my account to find out what it was for. I was told it was part of the Graduate Benefit Program. I asked if it had to be a Bachelors Degree and was told only Associate’s Degree on multiple occasions. I completed my Associates Degree and submitted all the documentation. I was told I was ineligible for my 1% rebate. I have called many times and asked for the supervisor and never got a return call when I was told I would. I also never received the rebate I was promised. I would avoid this company at all costs! They are horrible!!
Almost $12k in student loan payments and have never been late. A whopping $6k goes into interest and only $6k into principal. This company, part on PNC Bank should be investigated so get on the phone and call your state reps. who most likely are in bed with these thieves. Stay away from American Education Services based in Harrisburg, PA and find other lenders. Horrible service dept. and I can't imagine how people would be working at this fraud factory.
These folks are absolute crooks of the highest order. They continually up your interest rate. When you contact them to ask a question, you get more runaround than any government agency in North Korea! The interest rate while showing an extremely high 7% calculates at about 50%.
If I could give them NO stars I definitely would. They've lost my paperwork to defer my loans 2x. I assumed they were deferred the first time, checked and they did not get my paperwork. Sick of them and their horrible customer service, I sent a request to consolidate to Navient. 2 days later, they reported my loans being 90 days default. I know this was done as retaliation. My FICO score dropped WAY below that what it ever has been. Screw them. Something needs to done about them. There needs to be a class action filed ASAP.
DO NOT TAKE OUT STUDENT LOANS WITH THIS COMPANY. I took out a Spousal Consolidation Loan with this company in 2000. I have been paying on this loan for 17 years now and have only paid down my principal $3500!! I've paid $54,000 IN INTEREST on a $46,000 loan. When I asked them about debt forgiveness, they told me my loan didn't qualify for it and I'd have to take out a different loan to pay off the existing loan and then make 10 MORE years of payments.
On October 11th I received a letter stating they had sold my loan Reliamax. When I logged on all billing options had been removed and I could not see if my previously scheduled auto payment had been canceled nor could I cancel it. But sure enough AES took the money anyway on October 30th and once I contacted them they gave me the runaround and said no they would not refund the money but simply forward it to Reliamax. No care in the world that I am short 200 dollars now of money that was not budgeted to spend. I ended up having to submit a fraud charge through my bank to get the money back.
I received a student loan from AES 10 years ago. I've maintained appropriate payments, with never a delinquency to the account. Two weeks ago I contacted AES by phone to ask if the co-signer could be removed. They said it would be a six month process, and at that time I told the agent I would go ahead and initiate transferring the balance to another institution. The next day AES blocked access to my account summary online, and five days later the loan was sold off to another lender (ReliaMax) without telling me (I have trouble believing this timing is coincidence). Now the transfer payments I initiated have conveniently been lost in cyberspace. The transferring institution says they sent the funds, and the funds were received by AES. AES claims they never received the funds, and so now I have an extra open account.
I have three student loans with AES for my sons. For each loan, AES has consistently and systematically raised the interest rates on each. Listed below are the dates for the last 5 interest rate hikes AES has imposed: 10/4/2016, 12/31/2016, 4/4/2017, 7/5/2017, 9/30/2017. To make matters worse, there's never any explanation as to why the interest rate has increased. I'm going to refinance these loans with another loan servicer and leave this SHAM lender alone!!!
This company is the hardest to work with in managing loans. 1) Removing a co-signer is impossible unless you pay off your loan or consolidate it elsewhere. After 7 years on auto-pay with no late payments does not count. They will not remove a name off the loan. 2) Communication is slow. You have to wait 48 hours before getting a response to a question. Most of the time they aren't even answering your question and giving you the runaround. Do you not have documentation of previous communications with your customers? 3) I manage my husband's loans. I am an authorized user. The fact that I called in to check on the loans which I am paying automatically caused them to block the account. Honestly, if someone wants to hack our loans and pay for it, go ahead! In the event you need a loan in the future, do not go with this company. Navient, SoFi, your bank, etc. are better options.
This company is a JOKE! I am in school part-time, trying to finish my dissertation and EVERY semester they try and say I am delinquent on my loan with them. I send them the info they need and the university does the same but they STILL do this. I FINALLY got the Chancellor’s office to handle it and now, I am only delinquent when the semester ends and before it begins. They are a joke!!!
I sent them my forbearance application, along with the requested documents (EDD Letter and Job Exit Letter because my position ended at the end of the school year); however, they were the only lender out of 3, that said this wasn't sufficient information for proof of unemployment. I sent them an email asking to resolve this issue...
IF YOU HAVE AN ISSUE WITH AES, REPORT THEM TO THE Federal Student Aid Ombudsman Group https://studentaid. ed.gov/sa/repay-loans/disputes/prepare/contact-ombudsman. They handle all of the complaints about federal loans with lenders. These are the complaints they handle: If you have an issue with improperly posted payments, you must contact your loan servicer and attempt to resolve the issue by providing evidence. If your loan is in default but you believe it should not be, gather proof of payments and contact your loan servicer to address it directly with them. They encourage you to do a ton of work first and explore every possible avenue before contacting them. This can be frustrating, but it is the government we’re talking about! The only loans they can help with are federal loans.
Be alert. I just got AES to admit they had me paying off someone else's loans!!! First, they will give you the runaround and tell you to contact someone else. Don't fall for it. I may also suggest live chat and demand transcripts of the chat. They will email it to you and then you have proof. It took months and months and notarizing fraud/identity theft paperwork, make several copies, as they intentionally lose it, and having found my original loan promissory notes, and contacting ombudsmen, CFPB, before they would do anything.
They knowingly forcing me to pay loans that are not mine! And now that they admit they are not even my student loans, they refuse to return my money, which legally they have to do. So that's where I'm at with them. Plus they refuse to notify credit bureaus, loan servicer they sold these loans to that they are not mine, and AES refuses to remove my name, or correct NSLD website. These 2 loans, that begin <$7k, and $13k I paid, bal. Is over $20k. FIND THOSE PROMISSORY NOTES FOLKS. And double check those amounts are even your loans.
Very frustrating dealing with AES! I never do anything like this because I understand that my debts are just that! Mine! My responsibility to pay! Here's the problem! I took out a student loan several years ago. It was 3500 dollar loan! Payments 50 dollars a month for 8 years or less. A few years back some major changes took place and I was in financial distress! I called AES they offered forbearance! They were very nice. They always have been. However a few months later I get a nasty letter telling me my loan is going to default. When I called I was told there was no record of my loan ever being in forbearance. But that I could bring it current and then request forbearance again! It was hard but I did it. When I called back I was told that I couldn't request forbearance if I wasn't behind on payments! GEEZ REALLY! This went on off and on for a while.
Well a year ago I was told that I qualified for an income based repayment plan. I'm single with children! I thought great I was so relieved. I gave them everything they asked for and I was told based on my information my payments were 0. This would be good for a year but if my situation changed to let them know. I happily agreed! Several months later I get another nasty letter my loan is defaulting. When I called I was told they could see the request but had never gotten what they needed to process it and now there's nothing I can do. They seem to have a problem holding on to things. I have paid back around 4500 dollars and they say I still owe 2800 dollars!!! It was only 3500 dollar loan. I guess they are either going to garnish my pay or take my tax refund in January! It seems like there should be something we could do about this. It isn't right and they shouldn't get so much money. It's like they are just legally stealing money from people!
When I first started paying on my student loans I assumed payments were being applied as directed; I was completely wrong! Please make sure you check on any payment you send to your student loan. I have tried to send an extra payment on a monthly basis to try to pay off my debt, and after countless calls and speaking to managers I have come to accept I have to check on my loan minimum twice a month. The problems have ranged from my extra payments not being applied AT ALL (in which case I have to send bank statements and copy of check) to my account being placed on "Paid Ahead" status as it continues to accumulate interest. If you check the website, it states you can target specific loans online, which is completely false.
Every manager I speak to gives me a different reason for my payment being applied as they see fit, versus how I am asking for my payment to be applied. Reasons range from putting a cap on how much you can pay towards a subsidized loan to a letter being mailed with the check with "EXACT WORDING." In one of my previous calls, I had to have the manager dictate the letter I needed to write, which I send out with my check on a monthly basis. Of course this has done nothing to the way my payment is applied, as now they tell me letters are thrown away once the check is received and the person receiving the check is not the one to apply the payment.
Now, along with the letter stapled to the check, I have to write 3 things on the memo field of the check, "DO NOT PLACE MY ACCOUNT ON PAID AHEAD STATUS", the loan number I want to target, and my account number. You would assume with all this information I would not have a problem; however, you are wrong again! My payment is still not applied to the account stated, I have to spend a minimum of 15 minutes on the phone verifying all my contact information and getting pass the automated service explaining how I have to call EVERY single month, and I have to wait 7-10 business days before my payment is reapplied. In some cases, this does not happen and I need to call again, in others, I have to submit yet another letter asking them to reapply my payment. I sure wish I had looked at my loans closely for the first 5 years of payments; or that I had the money to pay them off once and for all!
I have received 6 letters in the mail, and an email claiming and I owe them money for my graduate school loan. All my loans are with Navient, and they have no record of transferring any of my accounts to another lender. The department of education also has no record of me having any loans with them. What they are doing is fraud and harassment.
American Education Services Company Information
- Company Name:
- American Education Services
- 1200 North 7th Street
- Postal Code:
- United States
- (800) 233-0557
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