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FedLoan can’t verify first 2 years (out of 6) of payments

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Total Posts: 2

Joined 2016-11-16

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I started working for an eligible nonprofit in June 2010. I consolidated my loans and got on IBR in September 2010. For the first 2 years, the loans were serviced by Direct Loan Servicing (ACS). In 2012 they were transferred to EdFinancial, and finally I applied for PSLF in April 2015 so my loans were then transferred to Fedloans/PHEAA. It’s now been 18 months and although FedLoan states I am enrolled in the PSLF program and I’ve submitted my employment verification each year, they have not calculated how many payments I’ve made (it’s 69) because they can’t get the loan info for the first 2 years from Direct Loan Servicing because they went out of business. I’ve been keeping track on my own spreadsheet and I have 4 years left, but I’m worried by their inability to verify the first 24 months of payments. I have that info on my credit reports from the time period, showing no late or missed payments so why can’t they figure that out? I’ve been told my records will not help them.  Has anyone had a similar issue or have any advice? TIA.

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Total Posts: 7

Joined 2015-09-02

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did you save any statements or any old emails from them?  Also, WOuldn’t EdFinancial have a record of the ACS payments?  Because I trust nobody with my loans but me I’ve saved a separate PDF of all my statements to google drive.  Good luck!

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Total Posts: 154

Joined 2015-01-08

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I’d recommend contacting the Ombudsman. They can help out with this sort of thing. Do you have bank statements perhaps to show a payment was made? Any kind of statements or emails confirming payment from Direct Loan Servicing would be very helpful in substantiating your case.

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Total Posts: 2

Joined 2016-11-16

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I don’t have bank statements unfortunately as I’ve moved states and changed banks twice since 2010! I may still have old statements from ACS, I just haven’t dug out the box yet. You’d *think* EdFinancial would have everything, wouldn’t you? The ombudsmen will be on my list for sure. I hope it doesn’t come to that, but given it’s been 18 months with Fedloans/PHEAA already, it may come down to a fight. Thanks all!

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Total Posts: 154

Joined 2015-01-08

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You can try to contact your old banks and see if they can give you any statements if you don’t have them. I wouldn’t hesitate to use the Ombudsman…Fedloans will just drag their feet.  At least the Ombudsman has a direct line to the reps at these loan companies that can actually do something about it. I’ve heard many stories of payment histories being wiped due to direct loan servicing going out of business. It is absolutely essential to keep track of your payments. These clowns running the loan companies have terrible record keeping.

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Total Posts: 9

Joined 2016-10-13

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Something to keep in mind is that any payments you made prior to consolidating your loans will not qualify towards the PSLF. So when you are working to prove what payments you have made starting at the point of where you consolidated will be the most helpful (or at least not be a waste of your time).

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Total Posts: 15

Joined 2015-02-16

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I have had a problem with Fedloan with records from previous lenders. It was a little different. I was starting my PSLF and in repayment under IBR. But that was when I decided to go back to school for my last 3 classes needed for my Masters. The previous lender put me in-school status, but on request removed me. When I transferred to Fedloans, they claimed all my payments that were auto-paid under the IBR did not count due to in-school status. I got SO frustrated. I filed a request with the Ombudsman, but it took so long that I ended up giving up on the PSLF program altogether. But finally I got a reply after I left my government job of 4 years. They cleared the issue up in a few months with one little piece of paper. My advice is to stop arguing with Fedloan and be patient with Ombudsman office, but start now! They obviously have a lot of complaints to deal with ahead of you. It’s like waiting at line at Disneyland.

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Total Posts: 154

Joined 2015-01-08

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Agreed. First time I used the Ombudsman they were terribly slow, promised to call back within 24hrs (never did) and I had to repeatedly call to get any updates. However, the second time I used them I had an agent that was so incredibly helpful and called me once every week to advise me of any updates. So, it may be hit or miss, but hopefully they’ve revamped their services to provide status updates without leaving you in the dust for months.