- Report: #268843
Report - Rebuttal - Arbitrate
Complaint Review: AES - American Education Services
AES - American Education ServicesPO Box 2461 Harrisburg, Pennsylvania U.S.A.
AES - American Education Services They said, "You should have shopped around!" Harrisburg Pennsylvania
One month later, when my first bill arrived, my interest rate had gone up to 9.8%! The payment due was TEN TIMES the amount that I had been told I would be paying. When I called Bank One, they said the loan had been sold to AES. I called them, and they told me that there was no cap on my interest rate and that it was going to adjust quarterly.
I asked if I could defer my payments, and the woman I spoke with told me it was too late and that I could not refinance, and could not prepay the loan in full without penalty.
I told her this was not the loan I had signed on for, and she told me that I "should have shopped around a little more".
When I asked for a signed copy of my Note agreement, all they sent me was an UNSIGNED copy of a Note Disclosure Statement (not what I asked for at all) with a breakdown of my loan payment options at an interest rate of 9.8%.
Now I am going to end up paying $60k on a $23k loan that only bought me six months of full-time classes at a community college.
I can no longer afford to take any more classes; my time is spent working to try and pay down this ridiculous loan.
This report was posted on Ripoff Report on 08/20/2007 12:59 PM and is a permanent record located here: http://www.ripoffreport.com/r/AES-American-Education-Services/Harrisburg-Pennsylvania-17105-2461/AES-American-Education-Services-They-said-You-should-have-shopped-around-Harrisburg-268843. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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