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BUSINESS Friday 28 February 2020
A25

How to make a student loan

complaint that gets results

By ANNA HELHOSKI of of the Institute of Student advertise relief on your
NerdWallet Loan Advisors. website and I want to know
Trying to make a complaint Reach out to the lender what's available to me,'
against your student loan or servicer's highest of- then the servicer needs to
lender or servicer may feel fice of customer service, supply what plans you're
like screaming into the void. whether that's a consumer eligible for and a copy of
In 2019, federal student aid advocate, ombudsman the applications."
customers made 44,155 or claims department. Its ESCALATE YOUR COM-
complaints using the Fed- general call center might PLAINT
eral Student Aid Feedback not give you the response If your issue isn't resolved
System, according to the you're looking for or have with your lender or servicer,
most recent report of the the authority to make ac- bring it to the government. In this Nov. 14, 2019, file photo, students walk on the campus of
Federal Student Aid Om- count changes. All federal loan borrowers Utah Valley University, in Orem, Utah. Associated Press
budsman. The most com- Send an email first to the should submit complaints
mon complaints dealt with company's general cus- through the Federal Stu- it consumer advocacy
repaying loans. tomer service address, dent Aid Feedback Sys- groups such as the Institute
The Department of Educa- which will get your mes- tem. Private loan borrowers of Student Loan Advisors
tion, in an email, said while sage to the right person, should submit complaints offer free help to student
all complaints will be re- says Mayotte. Written cor- to the Consumer Financial borrowers to navigate the
viewed and responded to, respondence ensures you Protection Bureau. process.
"we cannot guarantee a have a paper trail. A phone When you submit to the You can pay for legal ser-
customer a specific result call might seem easier, but feedback system, you vices, but these services
or change in their current it's more difficult to track in- can expect a response may be expensive, says
situation." teractions with your lender via email or letter within 15 Adam Minsky, a Massachu-
Don't let that stop you from or servicer. days and typically get a setts attorney who special-
voicing your concerns to When you make a com- resolution within 60 days, izes in student loans issues.
the powers that be. plaint, document every- according to an email from He recommends contact-
Before you send off a fiery thing and keep your nar- the Education Department. ing an attorney only when
email, set reasonable ex- rative consistent, experts If not, you can contact the you've exhausted all your
pectations about the out- say. It also helps to be clear Federal Student Aid Om- options.
come — it may not be what about what you're asking budsman Group. LEARN HOW TO CHANGE
you want. But it's possible to for, says Bonnie Latreille, SEEK OUTSIDE HELP YOUR LENDER OR SERVICER
get a result if you know the director of research and Your state attorney gener- If all else fails, it is possible
right steps to take. advocacy at the nonprofit al's office, state consumer to change your lender or
START WITH YOUR LENDER Student Borrower Protec- protection office and con- servicer.
OR SERVICER tion Center. gressional representative You can refinance private
You'll see results fastest by "It's really easy for any com- are additional resources to and federal loans with a
contacting your private pany to send off a form let- lodge complaints with. private lender. And federal
lender or federal loan ser- ter," she adds. "But if a bor- There's also no wrong time borrowers can pick a new
vicer first, says Betsy Mayo- rower says, 'I have called in the complaint process servicer after consolidating
tte, president and founder and sought relief, and you to seek advice. Nonprof- with the government.q

Fake meat and a latte?

Starbucks adds Beyond

Meat in Canada

By JOSEPH PISANI Burger King sells a Whop-
AP Retail Writer per stuffed with a patty
NEW YORK (AP) — Star- from rival Impossible Foods.
bucks customers in Can- And coffee chain Dunkin' In this May 2, 2019, file photo, Ethan Brown, center, CEO of Be-
ada will soon be able to already has a breakfast yond Meat, attends the Opening Bell ceremony with guests to
down fake meat with their sandwich with a Beyond celebrate the company's IPO at Nasdaq in New York.
Frappuccinos. Meat patty. Associated Press
The coffee chain said Starbucks said its new sand-
Wednesday that it will soon wich, which also has egg
start selling a sandwich and cheddar cheese, will
featuring a meat-free pat- be available at almost all
ty from Beyond Meat, the El its 1,500 Canadian stores in
Segundo, California, com- March. The patty is made
pany whose products are from peas and brown rice
being put on the menue and features a blend of
at other fast food chains as fennel, rosemary and other
well. spices.
Restaurants have been The Seattle roaster has
rushing to add patties that talked about introducing
mimic meat to their menus plant-based patties in the
to try and boost sales. U.S., but has yet to do so. q