Consumer complaint received 2024-08-26
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: EdFinancial Services (AZ)

XX/XX/XXXXXXXX XXXX XXXX  Consumer Financial Protection Bureau XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX Subject : EdFinancial Services Federal Student Loan Forgiveness Letter Dear Sir/Madam , I am writing to file another formal complaint regarding a pressing issue I am facing with the administration of my Federal Student Loan by the servicer, Edfinancial Services . 

On XX/XX/XXXX, I received notification from Edfinancial Services the letter they sent on XX/XX/XXXX confirming my eligibility for loan forgiveness was sent in error and they reinstated the balance on my account in the amount of {$180000.00}. As of today, the balance totals {$190000.00}, which includes interest charges of {$7900.00}. 

Currently, Edfinancial Services shows my account as 52 days delinquent and is requesting a payment of {$9300.00} by XX/XX/XXXX to bring my account current. 

Below is a chronological summary of the correspondence with Edfinancial Services. 

On XX/XX/XXXX, I received a letter from Edfinancial Services stating in part the following, " Your federal student loan ( XXXX ) will be eligible for forgiveness soon! Your loan ( s ) is being forgiven because you have made payments according to the requirements for your Income-Driven Repayment ( IDR ) plan. 

On XX/XX/XXXX, Federal Student Aid reports my loans as Paid in Full. 

On XX/XX/XXXX, I received a letter from Edfinancial Services Paid in Full. 

On XX/XX/XXXX, I received a letter from Edfinancial Services - 11 Day Delinquency Notice. 

On XX/XX/XXXX, I received a letter from Edfinancial Services - Change in Repayment Terms. 

On XX/XX/XXXX, I received a letter from Edfinancial Services - 30 Multiple Delinquency Notice. 

On XX/XX/XXXX, I received an email from Edfinancial Services stating my Discharge Documents have been sent to the appropriate department for processing and to allow approximately XXXX business days for processing. 

On XX/XX/XXXX, I sent an email to Edfinancial Services to request a status update on my Federal Student Loan Forgiveness. 

On XX/XX/XXXX, I received an email from Edfinancial Services stating in part the following, Unfortunately, we are unable to determine your eligibility for forgiveness. If you have received a letter from Federal Student Aid ( FSA ) advising that your loans have been forgiven, then there is nothing else you need to do. 

On XX/XX/XXXX, I received an email from Edfinancial Services indicating the letter I received on XX/XX/XXXX confirming my Federal Student Loan ( XXXX ) were eligible for forgiveness was sent in error and they have reinstated the balance on my account. 

As a borrower who received confirmation of loan forgiveness, I am deeply concerned by the apparent disregard for borrowers ' rights and well-being. The federal student loan forgiveness program is meant to provide debt relief to individuals, yet this situation has only exacerbated my financial burden. 

Since this change in status of my student loan by EdFinancial Services, I kindly request the Consumer Financial Protection Bureau investigate this matter and take appropriate action to bring this issue to a prompt resolution. 

Thank you in advance for your assistance. I will look forward to a timely response. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX EdFinancial XXXX XXXX XXXX XXXXXXXX Edfinancial Services 11 Day Delinquency Notice XXXX Edfinancial Services Change in Repayment Terms XXXX Edfinancial Services 30 Day multiple Delinquency Notice XXXX Email Edfinancial Services Status of XXXX XXXX XXXX XXXX Edfinancial Services XXXX XXXX XXXX XXXX XXXX Email Edfinancial Services Status of Forgiveness Error XXXX XXXX Direct Consolidation Subsidized Status XXXX