Consumer complaint received 2024-03-27
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: EdFinancial Services (KS)

I sent a payment via U.S. Bank bill pay to Ed Financial to payoff my student loan on XX/XX/year> for the amount of {$10000.00}. I have used this method to make my monthly payments for at least the past year, and my payment always posts within several days of the bill pay being sent. 

On XX/XX/year>, I noticed that the money had been removed from my US Bank account but the payment had not posted to my Student Loan account yet so I called Ed Financial customer service to see what was going on. The customer support rep told me she would open a billing investigation case and would send it to the " Payments '' team for them to look into. The rep requested that I upload XXXX items to their portal : XXXX. A copy of my transactions from my bank statement showing the money left my account XXXX. A copy of the check that was sent from XXXX bank I uploaded these documents to their portal on XX/XX/XXXX. The rep told me that she wouldn't be able to tell me when this would be resolved, or when someone would even start looking into it, but that when they did I would receive email updates from them. 

I placed another call to their customer support team on XX/XX/year> to ask them what the status was of this payment. The representative told me again that she could see a ticket had been opened with the " Payments '' team to look into this, but that Ed Financial didn't provide her any visibility into the status of this investigation and that there was no way to call that team directly. All I could do was sit and wait for the payment to post. She told me she expected that the payment should post or I should hear something in the next XXXX weeks but didn't have any guarantees. 

I placed another call to their customer support team on XX/XX/year> to ask them what the status was of this payment. The representative told me again that she could see a ticket had been opened with the " Payments '' team to look into this, but that Ed Financial didn't provide her any visibility into the status of this investigation and that there was no way to call that team directly. She did say she could see it marked as " high priority '' but that was it and informed me that all I could do was sit and wait for the payment to post. No matter how asinine I told her this was, she said she couldn't do anything about it. 

I placed another call to their customer support team on XX/XX/year> to ask them what the status was of this payment. The representative told me again that she could see a ticket had been opened with the " Payments '' team to look into this, but that Ed Financial didn't provide her any visibility into the status of this investigation and that there was no way to call that team directly. She did say she could see it marked as " high priority '' but that was it and informed me that all I could do was sit and wait for the payment to post. She agreed it was non-sense that it took this long to get an answer but told me she couldn't do anything about it. 

I placed another call to their customer support team on XX/XX/year> to ask them what the status was of this payment as it has been almost 2 MONTHS since I sent the payment. The representative told me again that she could see a ticket had been opened with the " Payments '' team to look into this, but that Ed Financial didn't provide her any visibility into the status of this investigation and that there was no way to call that team directly. This representative was rather rude and told me " There was nothing she could do about it '' and then immediately hung up and sent me to the " Short survey '' about my call. 

At this point I'm unable to get Ed Financial to tell me where the {$10000.00} went to but it still hasn't posted to my Student Loan account. Meanwhile, I'm accruing interest charges daily. Ed Financial told me that once they find the money, they would waive the extra interest charges accrued between now and when my payment was sent. Since Ed Financial can't even tell me where the money went, I don't have any confidence that they will correctly deduct the interest charges when they do find it.