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  5. VERMONT STUDENT ASSISTANCE CORPORATION

VERMONT STUDENT ASSISTANCE CORPORATION

Company Details

Name: VERMONT STUDENT ASSISTANCE CORPORATION
Jurisdiction: New York
Legal type: FOREIGN NOT-FOR-PROFIT CORPORATION
Status: Active
Date of registration: 10 Oct 2019 (6 years ago)
Entity Number: 5636683
ZIP code: 05404
County: Albany
Place of Formation: Vermont
Address: ATT: GENERAL COUNSEL, 10 EAST ALLEN STREET, WINOOSKI, VT, United States, 05404

DOS Process Agent

Name Role Address
THE CORPORATION DOS Process Agent ATT: GENERAL COUNSEL, 10 EAST ALLEN STREET, WINOOSKI, VT, United States, 05404

Filings

Filing Number Date Filed Type Effective Date
191010000688 2019-10-10 APPLICATION OF AUTHORITY 2019-10-10

CFPB Complaint

Complaint Id Date Received Issue Product
2834382 2018-03-06 Written notification about debt Debt collection
Issue Written notification about debt
Timely Yes
Company Vermont Student Assistance Corporation
Product Debt collection
Sub Issue Didn't receive enough information to verify debt
Sub Product Other debt
Date Received 2018-03-06
Submitted Via Referral
Company Response Closed with explanation
Consumer Disputed N/A
Date Sent To Company 2018-03-13
Company Public Response Company has responded to the consumer and the CFPB and chooses not to provide a public response
Consumer Consent Provided N/A
6058008 2022-10-06 Dealing with your lender or servicer Student loan
Issue Dealing with your lender or servicer
Timely Yes
Company Vermont Student Assistance Corporation
Product Student loan
Sub Issue Trouble with how payments are being handled
Sub Product Private student loan
Date Received 2022-10-06
Submitted Via Web
Company Response Closed with explanation
Consumer Disputed N/A
Date Sent To Company 2022-10-24
Company Public Response Company has responded to the consumer and the CFPB and chooses not to provide a public response
Complaint What Happened The Company VSAC uses an equation to determine their interest accrual. [ ( I x P ) / XXXX ] x XXXX. I = interest rate P= principal balance N= number of days since last payment. Given : Interest rate stays the same and every XXXX days I have a constant amount directly withdrew. Does the interest amount that accrues go up or down every XXXX days? Mathematically it should go down. Correct?! Not VSAC, every week I am paying higher and higher accrued interest.. Making it almost impossible for me to pay the loan off. I can not make a dent into the principal balance. Then they capitalize the interest back on to the loan. I had communicated this to the company an they do not want to help or give a good answer. This company also did not let me pay off my interest AT ALL when I had my Federal loans with them. I would make HUGE payments back in like XXXX to try to pay of this loan and they would not pay the interest off. It is stated on ALL their literature that they pay interest FIRST. But not with me.. Then when the interest was not paid they capitalized all of it back to principal at the end of the year. I had to consolidate to get out of that. I have documents to prove that also but have to dig through files. I attached a document showing payments made and interest accrued. This just recently is happened again..
Consumer Consent Provided Consent provided
2334770 2017-02-08 Can't repay my loan Student loan
Issue Can't repay my loan
Timely Yes
Company Vermont Student Assistance Corporation
Product Student loan
Sub Issue Can't decrease my monthly payments
Sub Product Non-federal student loan
Date Received 2017-02-08
Submitted Via Web
Company Response Closed with explanation
Consumer Disputed No
Date Sent To Company 2017-02-14
Company Public Response Company has responded to the consumer and the CFPB and chooses not to provide a public response
Consumer Consent Provided Consent not provided
8549906 2024-03-14 Struggling to repay your loan Student loan
Issue Struggling to repay your loan
Timely Yes
Company Vermont Student Assistance Corporation
Product Student loan
Sub Issue Problem lowering your monthly payments
Sub Product Private student loan
Date Received 2024-03-14
Submitted Via Web
Company Response Closed with explanation
Consumer Disputed N/A
Date Sent To Company 2024-03-19
Company Public Response Company has responded to the consumer and the CFPB and chooses not to provide a public response
Complaint What Happened I graduated from the University of XXXXXXXX in XXXX. Like many XXXX and XXXX XXXX XXXX, I was naive and really did not know how much college was going to cost or how I was going to pay it back. I thought higher education couldnt be a bad investment. My mother, who did have any money to contribute to my tuition, did a lot of the paperwork. Including the FASFA, which determines my aid eligibility on her and my fathers income. They were not well off but also didnt give me a XXXX for or during my XXXX years of attendance. The last 15 years have been trying to figure out how to pay off XXXX in student loan debt while trying to establish myself as an adult. That burden has been awful. My private loans are with XXXX and public with XXXX. My last payment to XXXX was for the full amount of {$570.00}. Of that amount, {$.00} was applied to the principal. Of the 6 different group loan types, one has an interest rate of 11.08 %. I have XXXX payments, XXXX years, remaining to pay off this debt. My degree is in XXXX XXXX. I thought I would go to law school, but understandably, did not think the debt was worth the degree. My first degree was not worth the investment. I cant return my degree. Ive tried. In order to pay my normal bills with little discretionary income left, I can not afford my college loans. I wouldnt have gone to college if I knew the payments would be this high. But I didnt know. How is this legal? Why can financial institutions take advantage of children like this when they believe they think they are doing something positive for their futures? This is wrong and insidious. I made the choice to go to school when I was XXXX XXXX XXXX. Now Im being charged 11 % on variable rate loan when Im one month away from being XXXX. My only option is to default. Deferment or forbearance options are depleted. Im tired and just want to raise my XXXX XXXX year old son.
Consumer Consent Provided Consent provided

Related by officers

THE CORPORATION

ARSHIA DESIGNS INC. AAA VACUUM CORP. ATLANTICA TELECOM, INC. MISTY SPORTSWEAR, INC. FAT JAMS ELECTRONICS INC. CROQUEMBOUCHE, INC. LONG BEACH PEDIATRIC GROUP, P.C. LAW OFFICES OF JOSEPH A. GRECO, P.C. TEREZ, INC. 732 CINNAMON BEACH INC.

Related by address

No related companies by address

Date of last update: 23 Mar 2025

Sources: New York Secretary of State

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