Thursday, April 2, 2009

Your Emails: American Education Services (AES) Complaint

Hi There,

I am so happy to see your site up.

I have contacted the BBB and Attorney General in regards to AES of Pennsylvania.

My private loans were sold to this company who, so far, have been incompetent, rude, and generally disassociated with anything or anyone. In April, the last month of a foreberance I took after college because, as we all know, the economy is not great for "straight out of college careers", I was informed by a representative that my foreberance time was up, and I only qualified for a graduated repayment plan which would cut my bills in half, starting in May. I thought, "Heck, I can deal with $179.64 a month.". That is not what happened. It was determined that I actually had more foreberance time left AND that the rep used it while I was sending in the paperwork to get the graduated status(which took THEM two weeks to approve after I FAXED over the documents). They claim that the fax has many users and that the number provided is the main fax, so my documents could have been lost.

Next, my co-signer, my 67 year old handicapped grandmother, has been receiving calls over me, the actual documented loan holder, scaring her and saying that she has to pay my overdue balance of $500 or her credit will be ruined too! She is now upset along with my family who think I am just ignoring the situation!

When I called AES, I assured them that I was one of those people who try to get over on things. I WANT to pay for my college education! I have tried to make arrangements to get things cleared up, and the only response I get is that a collection agency will be contacting and suing my grandmother and I if I don't get these payments in full over to them even though I haven't received a raise or anything that would help with that. One rep asked me to ask my employer for a loan! It's absurd!

When I told a rep that I was filing a complaint with BBB and the attorney general and that I would like to have our recorded conversation, he said I would never get that information. I thought they used those for "quality assurance purposes".

My account is now delinquent and continually garnering late fees, interest fees, and collection fees. I have sent payments periodically, but until the full balance is due, my grandmother and I will continue to ignore our phones for now because according to one rep, Josh x7447, there is no more to say. You pay: period.

Thanks so much for having a place to vent. I hope my story will help someone down the road.



Your Emails: AES: Dishonest, unfair & outright fraudulent! We need to fight back!

I was so glad to find this site. I too have had numerous problems with AES. Again, my credit is damaged due to their poor business practices.

The most recent problem comes after I requested that my terms be adjusted to a graduated payment. I was told that I need not make a payment in Dec. In January, after I made my payment, I received notice of payment delinquency (from December), I contacted AES on January 29 and was told that the error was theirs. They stated that there was an error when the account was updated and that the person who updated the account had failed to take the necessary measures to update the account in a manner that would reflect that the December payment had been made. Again, I was assured that I did not owe the December payment & that everything had been taken care of and I would receive no further notices. I was apologized to for the inconvenience it had caused me.

On March 2, I received a notice from a collection agency on behalf of AES/National Collegiate Trust. For the 3rd time, I contacted AES. Only this time I was told that I am responsible for interest & Late fees & the payment from December! I was told at this time that the December payment was not eligible for forgiveness due to no forbearance time left on the account. This was the first time anyone mentioned the need for forbearance time to relieve 1 payment! I have consistently been told I was not responsible, Why all of a sudden should I be held accountable for their error. I have no problem making the payment (if it is tacked onto the end of the loan as I can't afford to make the payment at this time.) I do not feel that my credit should suffer, nor should I be liable for late fees, etc. This was not an omission on my part, I had planned to make the payment!

As I stated before, this is the most recent of many problems I have had with AES; Pulling my loan out of forbearance 3 months early & not notifying me, then turning the account over to their attorney; Astronomical interest accrual and failure to prove to me as requested the interest rates, etc. over the period of time requested. Payments posted incorrectly, leading to even more interest payments,etc. The list would make this e-mail 3 times as long as it already is.

I am ready to fight back! Almost 8 years of this is ENOUGH! What I want to know is if anyone is aware of a class action attorney who might be interested in picking up a case against AES. I plan to research it. If I find, I will post.

Your Emails: Sallie Mae Servicing - Loanshark/Beyond Predatory Lender

My loans are consolidated with Sallie Mae. Sallie Mae has added per a recent conversation with one of their customer service reps $15,000 in interest to my student loans in approximately in a 7 year period. I recently started paying on my loans on Sallie Mae's graduated plan. I have a due date for the 28th of the month, but because I pay Sallie Mae earlier than that date I am told I am being charged additional interest on my account. Further, Sallie Mae are showing my loans in my credit file as if I owe two loans instead of one. They are not showing all the original lenders as paid in full even though Sallie Mae was suppose to pay off those original lenders they have listed them as if the information on those lenders are not available and they don't know their phone numbers or the balances, which is impossible since Sallie Mae is the one that paid all those initial lenders off in full. In one of my credit files Sallie Mae is listed on all my loans and have taken the original lender off. In another credit file Sallie Mae show me owing them $58,000 and $66,000 when I have only one consolidated loan with Sallie Mae. Students need to get together and protest and March until our government stop this insane abuse of student loan practices by lenders.

Sallie Mae has not reported my monthly payments to the credit agencies. I have not as of today received a requested written statement from Sallie Mae of my account. Sallie' Mae's customer service told me I had to have either a coupon book or a statement, but I could not have both. While I am paying Sallie Mae the agreed on payments on my loan and before my due date. Sallie Mae tells me the interest on my loans a increasing because I pay earlier than the due date via mail.

The interest on these loans are more than the entire initial loan and near impossible to pay because of the huge amount of interest, which Sallie Mae says accrues daily

The consequences of these loans were never explained properly when taken out. Lenders like Sallie Mae are taking advantage of t he poor, the uninformed, and those simply wanting to better themselves by pushing these bloodsucking loans on to unsuspecting students when the bulk of these students will end up with nothing but degrees in fields where there are no jobs to be had and a loan it will take them the rest of their life to payoff working in jobs slightly paying more than minimum wage.

The interest on all student loans should be frozen for at least 5 years to give students an opportunity to bring down the principle on these loans. The Government should allow students to discharge the interest on these student loans in bankruptcy since the lenders are collecting more than their fair share of interest. The Government should allow lenders to charge only a flat rate of interest on student loans and not compound the interest daily. .

Your Emails: Student Loan Scams - We Need To Take Action

To Whom It May Concern,

I am writing this letter to let you know about borrowers who have been hurt in taking out Student Loans to go to college and make better lives for ourselves. I am a victim myself. I went to The Art Institute of Pittsburgh (Online Division) from July 2004 - March 2007. I graduated from there with my Associates Degree in Graphic Design and to this day, I still have not found any work in my field due to the economy being so bad. I had to defer my student loans twice because I am a single woman struggling to make it on my own. I waitress and have a lot of expenses to pay for every month. I originally took out a loan for $30,796.69 but after graduation I was told by Sallie Mae that it would be better to consolidate all of my student loans. But they never told me how much interest they were going to charge me. After consolidating all of my loans and having to defer them due to economic hardship, the accrued interest to be capitalized is $1,020.66 making the total principal $31,817.35. Then the estimated amount of interest that they are charging me during repayment is $21,591.89. So the grand total that Sallie Mae says I owe them is $53,409.24! Then I was approved for deferment and then they told me that I will be charged even more interest just for being in deferment. And also I still owe $366.44 to the college I went to and I still don't have my degree in my possession. They will not send it to me until the full balance is paid off. I am just trying to survive with the little money I am making right now.

I did find a website and found out that there are millions out there who have also been hurt with taking out these Student Loans. After reading these stories, I think that it is a shame that we American citizens are being taken advantage of this way. All we were trying to do was to make something of ourselves and to better our lives. This is why we decided to go to college. But due to the economy, none of us are working in the fields that we went to school for and we are all responsible for paying back our loans. But why should we have to be charged more than what we borrowed for interest? Why is Sallie Mae doing this to us?

I want to take a stand against this because we are all innocent victims who are crying out for help. Someone needs to do something about this. Any questions regarding this matter, you may contact me at

Your Emails: AES Victim


My name is Marta Stepanowicz and AES is making my life a living hell. My loans were originally taken out with a different lender and later were sold to AES without my knowledge. These have the rudest and most incompetent people working there. I tried doing forbearance and have not consolidated with them (thank god) and they try making excuses and stories on how they would deny me every time. My income does not come close to alllowing me to make the $700 per month payment. I am very frustrated because I think that the FTC and Attorney General in Pennsylvania need to investogate them to the fullest extent. I found pages of stories filled with customers complaints about this monstrous company. I think all these complaints should be made public and I intend to do that with the FTC.

Knowledge is power and if I had known this about his company 7 years ago, then all of this could have been prevented. I am sure alot of people going through this nightmare feel the same way. Everyone has to abide by rules and regulations and this company is no different.

Marta Stepanowicz

Thursday, April 24, 2008

Your Emails: Forged Promissory Note

I made a telephone inquiry regarding consolidating default student loans to relieve the $600 a month payments I was being recinded from my paycheck.

American Education Serivces (AES) just contacted my employer stating I am in default of a consolidated loan I took out with them. I just received the original promissory note which does not have my signature, or a date and was completed by the person I made the inquiry with. Who can I contact regarding this?

Thank you.

Your Emails: "Struggling With Sallie Mae"

I am struggling with trying to set up a payment arrangement with Sallie Mae.

I have, through a bit of time on the internet, discovered that this is not the best place to have to deal with. I did not have my loans through them originally. My loans have been sold to the best of my recollection, at least 4 times. And, they ended up at Sallie Mae. (First Wisconsin Bank, to Great lakes Higher Education to someplace in Arizona, notw to Sallie Mae. There may be more in the middle!).

I have been through divorce and bankruptcy recently. My bills (without the loans) at this point, amount to over $2,000 a year MORE than I take home. (with the payments, if I cannot work out something, I will be $6,000 or so in the red!). Every year, I hope things will get better. Every year, it gets worse. I cant even keep up with dental work for my kids (with insurance!) or for myself.

I applied for income sensitive repayment. Got a note that said instead of having a payment of $405 a month, I would have to pay only $326! Wow, that is a big help. I have a job. I also have a car loan at 21% due to the bankruptcy; and I pay an extra $500 in rent each month because of my Ex. I ended up in bankruptcy because my wages were being garnished for his bills. Marital property laws SUCK, and are punitive in some situations.

I have written Sallie Mae again, trying to explain my situation. I do not have any hope that it will help. I am 48 years old. My life did not go the way I had planned. I went to school to NOT have to live like this. Ironically, it has actually made my life worse....

I will never own a home, or get to retire. I will be one of those little old ladies, greeting customers at the front door of WalMart, until the day I die. Because I thought that getting a college degree was going to HELP me!

I am also trying to get the original info on my loans, but that looks hopeless as well....

I do not understand how it has come to this. They have all the power. It does not seem as though there is any recourse. And, since forcing me into default is financially more attractive to them, why would they want to help?

Your Emails: "AES May Have The Worst Customer Service"

As a borrower from American Education Services (AES) and finally getting my defaulted student loans after financial hardship into rehabilitation, I felt this story was pertinent to future borrowers. I admit that I screwed up and wasn't paying all my student loans on time, but was able to get my Federal Loans into rehabilitation and up to date, yes! They were great to work with, the ladies were so nice, understanding on the phone and they worked with me to create an affordable repayment plan.

Then I tried dealing with the ladies from AES. I think someone should get them a day at the spa because they are all complete ignorant, miserable women. I've talked to three different women and they all were completely rude ot me over the phone. Last time I noticed I was paying them money every month and essentially am a customer of theirs, right? Well they need some training in manners for "listening" and customer service skills. The first lady had me on the phone 3 times in one day and for an hour at a time, arguing, talking over me, talking to me in a condescending manner; you name it she didn't want to hear it and she didn't listen to anything I was trying to explain to her why I couldn't afford to pay her $3,500 that day. She threatened to call my employer and pull money from paychecks. So I had to give her 10 checks in a row for ACH. My phone call with Federal Student Loans took me 15 minutes ... Something wrong there?

Just today I spoke with a girl named Andrea and she told me that it was in my best interest to pay off my $2,900 balance right now to get it out of default. After I logged in and explained that my online account said my balance was $0.00, she said you don't have online access to your account. Does that make sense? Then I said I'd like to lower my monthly payments before I sign this letter that states you're going to roll $500 of collection fees into my principal. She said, "We can keep taking $300 out of your account, but you paid 8 in a row ontime and with one more you're eligible for rehabilitation" Really? So the fact that I had been on-time didn't warrant a little more human emotion from this lady. Do these people work in a dark room in the middle of Pennsylvania somewhere? Someone send them flowers or something. As she tried to go back into how paying it today would be better for me after I told her I wasn't able to; I decided to pay my last collection payment and call back in a month to hopefully speak to someone with a heart. Even when you do pay on-time, the women of American Education Services (AES) are kind of like praying mantis, they eat their own kind, other human beings trying to get by and correct the wrongs of their past.

Sunday, March 2, 2008

Forged Promissory Note?

Has anyone reading this ever had a problem with a loan company such as ACS, CFS Suntech/CHASE, Sallie Mae etc. actually forging a promissory note for a loan/consolidaton? If someone working for a loan company has forged your name on a promissory note (either hardcopy or online "e-signature"), or if you have any information on such forgery practices, please email me @