Student loan -- Dealing with your lender or servicer -- Complaint #11338800
Complaint Overview
Complaint ID: 11338800
Company: Edfinancial Services
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Received bad information about your loan
State: Massachusetts
ZIP Code: 02150
Date Received: 2024-12-31T12:00:00-05:00
Date Sent to Company: 2024-12-31T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I called the Federal Student Aid office on Monday, XX/XX/XXXX and happily discovered that I have completed XXXX of XXXX PSLF ( Public Service Loan Forgiveness ) payments on my financial aid loans. So, when I make XXXX more payments I will meet the requirements of the PSLF program to qualify for the balance of my financial aid loan to be forgiven. XXXX, the phone rep explained that I could " buy back '' these XXXX months and guided me through the application process online. The Massachusetts Attorney General 's Student Loan Assistance Unit explained to me via email that the buy back processing has been paused. This means that I have to pay XXXX more monthly installments and accrue more interest on my loans. In addition, I received a letter via email from EdFinancial dated XX/XX/XXXX explaining that my next monthly IDR payment of {$1000.00} will automatically be debited from my checking account on XX/XX/XXXX. ( I am on auto pay ). This figure seems quite high as EdFinancial handles half of my outstanding student loan balance of {$100000.00}, and XXXX handles the other half ( {$100000.00} ). I called EdFinancial on XX/XX/XXXX to discuss the miscalculation of my monthly IDR payment with a supervisor. The phone rep explained that she could not transfer me to a supervisor, that the supervisor identified there was an issue with the monthly payment amount, and that they will need to get back to me about this. The phone rep also apologized stating that EdFinancial is experiencing extreme delays in processing and that they are very disorganized at the moment.
Frequently Asked Questions
What is Complaint #11338800 about?
Complaint #11338800 was filed against Edfinancial Services regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-12-31T12:00:00-05:00.
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.