ComplaintsforStudent Loan Movement

• Initial Complaint

  01/30/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Ive been making payments to them for two years noticing this year that my loans been not reducing so I called my loan service provider. They tell me this is a third party company making promises that are not going to happen. So I finds out my payment been 0 when I been pay $50 or more monthly.

  Business response

  02/06/2024

  Hi ****** - 

  We have tried to reach you by phone, email and SMS, to address your concerns and questions. it appears you have opted to swipe our calls and ignore our communication. We will be glad to address your concerns here. 

  You are correct, you have been making payments for just over 2 years; however, this program is a 240 month program. 240 months = 20 years. 2 years is 24 months. Do you see how making 1/10th or 10% of the required payments, may mean that you have to keep going in a program in order to achieve the benefits at the end? It makes sense to most, but not all.

  Unfortunately, because you work an hour or 2 a day from home, you do not qualify for any additional forgiveness benefits and you must complete the entire program to qualify for that 240 month  forgiveness. Regretfully, due to your insufficient funds on your last 3 payments and your public complaint and dissatisfaction, we are unable to assist you further and you will be required to get back on track or start all over somewhere else. We wish you the best of luck.

  Customer response

  02/06/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  *****************************
  
   
  

• Initial Complaint

  10/26/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Unanswered

  More info

  This business will not reply to my emails asking to cancel my account. They have been scamming me out of $49.97 a month, and then I asked to cancel, they charged my bank account again. This company does nothing for you. They claim to help manage your student loans, but they change your information and dont actually do a thing. They consolidated my student loans and charged me $1600 saying that was the fee of consolidating the loans. Come to find out, that $1600 was just going in their pocket. I never got student loan updates because all my information was changed, including my phone number and my email. This group of people are crooks, and the website should be shut down. I have copies of bank statements to show everything. It is sad that a place like this is able to prey on students fresh out of school claiming to be a service that helps the government. I have been paying $49.97 for almost 2 years now, and they were saying payments were happening toward my student loans to reach forgiveness. No history of that whatsoever.

• Initial Complaint

  09/06/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  In Aug 2021 I was consistently contacted by Student Loan Movement stating the government had limited funds to reduce student loans (similar to the $10,000 just passed by legislation). I explained I was already on a income driven repayment plan program of $0 monthly for debt forgiveness. Student Loan Movement stated this was different, and the funds made available by the government was an effort to reduce student loan debt obligation. They offered to help me qualify for the Government Monies to help reduce my student loan obligation for a upfront fee, plus a monthly fee until the loan was completely paid for. I asked, after my obligation was reduced if I had the ability to pay it off early, the representative stated yes. The representation stated I qualified for a reduction from approx $89k to approx $29k. So I signed up for assistance.One year later, Student Loan Movement is stating they never stated they it was a debt reduction program, but simply qualifying me for debt forgiveness after ************************************************************************************************************ into paying them for something I already achieved on my own.Student Loan Movement management team returned my call, stated it was absurd that I would have that understanding and refused to allow me to review the onboarding call or transcript. I would like Student Loan Movement to release the audio of EVERY call, of every communication, between myself and Student Loan Movement.

  Business response

  09/19/2022

  Thank you for taking the time to file this complaint. We appreciate your feedback. We have reached out to Ms. **************** or ***************************** and addressed these concerns. The complainant understands that she was approved for a program that provided a payment of under $50 per month on an $85,000 loan she has owed and not paid on for years. It was clear what SLM would and would not be providing **************** and those services were provided. Per a disciussion with ****************, SLM agreed to a partial refund of the recent fees paid so that SLM and **************** could part ways amicably and peacefully. SLM began the process of refunding her most recent transactions, then **************** thought it would be best to go back on her word and the agreement and file this public complaint. Her desire to intentionally renege on our discussion has now nullified any verbal agreement SLM had with her to provide any further refund. We wish **************** the best of luck moving forward. This complaint is considered closed and no further reply or response will be provided.

  Customer response

  09/24/2022

  I have not received any response from the business in reference to this complaint or resolution.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩