Student loan -- Struggling to repay your loan -- Complaint #11152351
Complaint Overview
Complaint ID: 11152351
Company: Edfinancial Services
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Struggling to repay your loan
Sub-Issue: Problem with forgiveness, cancellation, or discharge
State: New York
ZIP Code: 117XX
Date Received: 2024-12-13T12:00:00-05:00
Date Sent to Company: 2024-12-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I originally took student loans for XXXX school from XXXX to XXXX. ( XXXX XXXX ) I took loans from XXXX for XXXX school ( XXXX XXXX XXXX XXXX These loans are listed as income driven repayment. i consolidated all of these loans into IDR plans in XX/XX/XXXX as directed by a national student debt counselor who informed me that my loan would qualify for forgiveness because I had been in repayment for over 20 years. I contacted ED Financial, my loan servicer and inquired as to how to go about requesting loan forgiveness. I was told that I had to consolidate all of the loans into a new IDR plan as noted above, so I did so. Upon approval of this plan, My monthly payment went from $ XXXX to $ XXXX. I was told at that time that it didn't matter because once I qualified for forgiveness at 20 years, I would be refunded all subsequent payments once my loan was forgiven anyway. On XX/XX/XXXX, i contacted EDfinancial to inquire about the status of my loan and forgiveness. I was told that according to their records, I did not start paying my loans back until XXXX. This is not true. I believe they were referencing the wrong loans and possibly purposefully not allowing all of the details to emerge so as not to allow due loan forgiveness. I asked them to provide to me a history of my loan payments in balances, and they told me they could not do so. I have tried at length to find this information on the federal student aid website and can not locate it. At this time, I am being told that I can not lower my month payments at all either. I can not afford to $ XXXX for another 20 years.
Frequently Asked Questions
What is Complaint #11152351 about?
Complaint #11152351 was filed against Edfinancial Services regarding Student loan specifically about Struggling to repay your loan. It was received by the CFPB on 2024-12-13T12:00:00-05:00.
How did Edfinancial Services respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Student loan) and describe your issue in detail.
Can I see other complaints against Edfinancial Services?
Yes, visit the Edfinancial Services company profile at readthecomplaint.com/company/edfinancial-services to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.