Student loan -- Dealing with your lender or servicer -- Complaint #8601878
Complaint Overview
Complaint ID: 8601878
Company: Edfinancial Services
Product: Student loan
Sub-Product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-Issue: Don't agree with the fees charged
State: Massachusetts
ZIP Code: 02215
Date Received: 2024-03-21T12:00:00-05:00
Date Sent to Company: 2024-03-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I graduated last fall from my XXXX XXXX program where I took out around {$80000.00} to pay for it. EdFincancial is servicing this loan. They will not allow me to enroll them in auto pay until there is a payment due, around 6 months after graduating. Enrolling in autopay reduces the interest rate by 0.25 % which on XXXX is about $ XXXX. When I went to enroll they said it would take 2 months to activate so they are trapping me into paying at least 2 months of interest at the higher rate. That does not seem to be a reasonable timeline for a simple calculation adjustment.
Frequently Asked Questions
What is Complaint #8601878 about?
Complaint #8601878 was filed against Edfinancial Services regarding Student loan specifically about Dealing with your lender or servicer. It was received by the CFPB on 2024-03-21T12:00:00-05:00.
How did Edfinancial Services respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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.