Consumer complaint received 2023-09-11
Company: EdFinancial Services
State: CA
Product: Student loan
Sub-product: Federal student loan servicing
Issue: Dealing with your lender or servicer
Sub-issue: Trouble with how payments are being handled

Complaint:
STUDENT LOAN BORROWER FOR 31 YEARS HAVING TROUBLE WITH LOAN SERVICER ( EDFINANCIAL ) ERROR 1 : On XX/XX/2023, I consolidated my FFELP ( federally guaranteed ) student loans with the Department of Education away from XXXX ( after 31 years of their illegal practices and forbearance steering ) and selecting Edfinancial as my new loan servicer. With this DL Consolidation, I immediately came under the National Emergency Forbearance payment pause AND 0 ( zero ) percent interest rate. That means ZERO PERCENT INTEREST RATE and NO ADDED INTEREST, PERIOD UNTIL XX/XX/2023! 

However, Edfinancial added interest IN ERROR ( or intentionally ) TO MY Edfinancial account and MY ACCOUNT WITH XXXX studentaid.gov for the Department of Education. This error was both an illegal practice and a violation of the Department of Education Rules. 

Edfinancial NEVER admitted their error or explained to me why they did this but they did it and acted like it didn't happen. It took me months to get them to take the added interest off my account. 

ERROR 2 : On XX/XX/2023, after 6 weeks of holding on the phone for periods of 8 hours and longer each and every time, using their call back features, using email, writing letters and using their chat, I finally got an agent on the phone. From the beginning, this agent was highly incompetent and asked me for both my account number and FULL social security number over the phone which is completely unacceptable. I used my account # to continue the call and the agent was agitated. 

This agent ( XXXX ) could not speak clearly or annunciate her words. She refused to exit me out of the National Forbearance and place me back into repayment status in accordance with the 12-month period of IBR I am enrolled in with Edfinancial beginning on XX/XX/2023 rather than XX/XX/2023. I have documentation. See attached. XXXX refused to let me speak to a supervisor and told me I had to wait at least 24 hours to have someone call me back. Again, this is unacceptable after waiting weeks to speak to someone. These delays cost us money! 

When I asked XXXX again to speak to a supervisor to counsel me on the SAVE plan and my current IDR plan to resume on XX/XX/2023 and avoid any unnecessary interest capitalization, the agent ( XXXX  ) hung up on me. 

Edfinancial 's reps are not trained and do not know anything! One admitted to me back in XXXX that he couldn't help me and he couldn't get anyone else to help me. This is what we are dealing with. What is going on??? 

RESOLUTION to XXXX I have called, written letters, emailed to opt out of the administrative ( National Emergency ) forbearance PRIOR TO XX/XX/2023 to be effective XX/XX/2023 and to resume payments on XX/XX/2023 rather than XX/XX/2023. I need this XXXX payment to count toward IDR forgiveness because every payment counts and I don't want to wait until XXXX. 

XXXX XXXX said I had to wait 30 days to do anything regarding payment dates but that I can just keep paying them. I asked her to wait 30 days to do what. She was absolutely silent. Again, this is unacceptable!

Edfinancial is doing the same thing XXXX did to me for 31 years : not providing true and accurate information, not counseling me on repayment plans ( today it is the SAVE back then it was IBR ), not assisting customers with questions and requests, hanging up on customers, disconnecting calls of customers, and forbearance steering. 

These delays, gaslighting, misinformation, errors, and forbearance steering needs to stop NOW! 

Thank you for your assistance and resolution of this matter. 

Sincerely yours, XXXX XXXX XXXX XXXX XXXX XXXX.

Company response to consumer: Closed with explanation