I have the same story as everyone else. Have 5 loans with them totaling around $58K. I was making a $300 a month payment to them because that what they said they was good and it was the most I could afford. I was paying on them for over 2 years and knocked my total down to 52K. Did you catch that. The math doesnt quite work. After 2 years and no payment book, statements, notices, receits, e-mail, phone call nothing. My mom wants to buy a new car who helped me co-sign my loans. Sure enough, come to find out they're all in charge off and had been for over a year. We promptly called and asked them why. Well, my payments weren't enough for them and they charged-off all my accounts. I asked for them to send me the statements, this way we can get the numbers right. A few days later, a nice lady from AIC calls and tells us they can settle everything for a payment of 53% of the total. Its a great deal and both my parents are willing to help, but it would mean my dad getting a lean on his Classic muscle car to foot the note. However, after reviewing the paperwork Keybank sent us, the payments are all screwed up. Some months went by with no payment and others with me only paying 257 out of the 300. This is flat-out stealing because they cashed every $300 check I sent them and it is no where listed. Currently, we are doing the deal with AIC, but a friend of mine is an attorney and has agreed to help me go over all this. I'll keep everyone updated, but as it looks, they have stolen my money and wrongfully taken my mom and me to collections over this. I know Key bank has stated many times they want out of the Student loan program, but wrongfully charging-off current accounts is not the answer.
