Consumer Complaints and Reviews
Understand that I have paid off a number of installment loans over the years, so I am very familiar with a properly prepared billing statement. I usually pay my student loan bill several months at a time. I then do not worry about it until I have a due amount again. I have been paid up as much as a year in advance. I recently found out that "Student Loan People" does not know how to properly prepare a billing statement. An installment loan is not like a credit card loan. If a payment is made to forward a due date, the next due date and amount can very easily be calculated and should be reflected on your billing statement.
The "Student Loan People" prepare their statements and show a due date and a due amount that is not accurate. I relied on the information they provided and started getting harassing calls over a few bucks being "past due" even though I had a statement that stated $0.00 due by the due date. Because of their incompetence in preparing a billing statement, I was assessed a penalty for being late even though their own paperwork shows I was not. If you pay your loan in advance, you may have been penalized as well. I think a class action lawsuit should occur over this. I looked back in my records and found that they pulled this trick on me more than once (minus the calls). I expect that others have been taken for a ride on this one as well.
Kentucky's Best in Care program for nurses was a forgiveness program that pays your entire loan in 5 years. Kentucky does not have the funds to fulfill this obligation. The program also required individuals to work in specific settings to be eligible. Personally, I changed to a lower-paying position to meet the eligibility requirements.
Needless to say, with the economic status of our country and the death of my spouse, I am unable to afford this loan. Also, I am unable to return back to school, since i presently have a debt with a student loan and had planned to borrow money for graduate school. Several times, I was unable to make payments and was verbally harassed on the phone. I completed my end of the bargain, and now, I am left with a huge bill and unable to continue my education.
The Student Loan People promised forgiveness of loan money for working in a hospital upon graduation. This was called Best in Care. By phone, I was told that as a non-profit, they used interest earned to forgive certain loans. Later it was stated that the forgiveness was discontinued due to lack of federal funding. This was after loans were accepted and used for education. Many nurses relied on the promise of loan forgiveness and have been left in the lurch. Please help!
Every month I make a student loan payment of $803 through EPIC systems (a monthly billing system that Student Loan People uses so that it's deducted from my checking account once a month). During the month of August, my checking account was debited 4 times so that instead of 1 payment of $803, approximately $3,200 was withdrawn from my checking account. Due to this, my account was overdrawn and all checks that I had written against this account had bounced.
I called Student Loan People immediately on Thursday, August 9, to rectify the problem. They recognized their was a system error on their part but they gave me NO information as to when the problem would be rectified. Meanwhile, I have no access to my money or credit cards. On August 9 at 5pm they call me and ask me to fax them over my bank information so that they could wire the money to my account by Friday, August 10. The money was still not wired on August 10. They then call me on August 10 and say they need me to go to my branch and have the banking specialist write out letters, show proof the checks were paid, etc.
I am an attorney, have an extremely hectic schedule, and their system error now became my problem. I was forced to stay home from work on Friday in order to take care of this problem. As of August 10, the money still has not been wired into my account. The customer representatives were the most unhelpful employees I have ever deal with. None of them knew any information, and every time I called I received a different fax number as to where to send my bank information.
First, I have no access to my money or any of my accounts since my checking and savings accounts are linked and due to the error of Student Loan People their error became my issue. Second, I was forced to cancel business meetings because of the length of time this was taking to rectify (and it still has not been rectified). Student Loan People have agreed to credit everyone affected by this issue $50 which does not even come close to compensating the frustration that I have been going through.
Student Loan People Company Profile
- Company Name:
- Student Loan People