Complaint About a Lender or the Servicing of Your Student Loan? This Is Where You Go To Get Action...

Do you know where to submit a complaint about the lender or servicer for your student loan?

The Consumer Financial Protection Bureau has set up an online submission form similar to a help desk ticket for IT problems.  You can check the status of your complaint as it winds through the process.

Student loan repayment is ridiculously and needlessly complicated.  Your debt may be sold to a different lender.  Your debt servicing may also be sold.

By the end of your student loan repayment you may have been strung out between 20 to 30 different private companies. It's like a freakin' shell game!

Mistakes will be made.   With so much churn it is inevitable.  However, the company holding your debt has very little incentive to repair or correct mistakes.  If you fall through a crack in the system -- too bad.

Or, if like the woman below - whose son died still owing on his student loan, you are first lied to and then sucker punched.  

Until now, there wasn't even a formal complaint system.