Patricia
To be honest
To be honest, I don't believe that I made a good decision with Trust Arrow. I could have done the exact same service and not paid anything at all if I had done it on my own. When I talked to the agent, I was crying, emotional, overwhelmed, and understood that Trust Arrow was the only means by which I could apply for Student Forgiveness. I now know that that is not the case and I wouldn't have had to pay nearly $1000 in order to consolidate and send the paperwork myself. Also, I didn't realize that while I was on the phone, the Trust Arrow representative was going to be accessing my FAFSA as though they were me. I didn't realize that that was going on until after I was contacted by FAFSA. It seems like that should be illegal. Update: 03/10/2021 This is *not* a competitive reviewer. I am a real client who lost $1000 and I have the paperwork and bank statements to prove it. Please do not waste your time with this. Go straight to FedLoan Services. They are available to chat on the phone and can explain everything. I was naive and didn't know better. I just don't want the same thing to happen to anyone else.
Response from Trust ArrowDec 13, 2018
Hello Patricia, thank you for your updated communication. We see you are a valid client who has received misinformation. The service you applied for takes 6-8 weeks to complete for qualified agencies such as ours, or it can take an individual 6-9 months to attempt the process on their own. Generally speaking, our clients are people who prefer to pay a service that provides a guarantee of savings and enrollment, rather than attempting the 6-9 month process alone. Individual applications are rejected at a rate of over 90% due to regulatory or compliance matters the borrower is unaware of, causing further delays if the process needs to be started over from scratch, if that is even still an option. Often it is not, as one seemingly minor mistake can cost hundreds or thousands of dollars and cannot be undone when it comes to Federal student loans. For these reasons our agency works diligently to provide guarantees of service, offers refunds for denials, and continued education on these matters. In the case of FedLoan Servicing, we would not advise recommending them, as they are currently being sued by the US government, numerous states, and individual borrowers for “scamming” their clients. We maintain an unbiased A+ rating through the Consumer Loan Bureau for good reason, and encourage your continuing investigation of our company there, as well as Fed Loan Servicing, anywhere else. Here’s a few recent articles to get you started, and we welcome your future communication. https://www.google.com/amp/s/www.forbes.com/sites/adamminsky/2021/02/10/major-legal-setbacks-for-student-loan-giants-navient-fedloan-servicing/amp/ https://www.google.com/amp/s/www.washingtonpost.com/education/2019/10/03/new-york-sues-student-loan-company-over-debt-forgiveness-those-public-service/%3foutputType=amp Have a great evening!