Consumer complaint received 2024-06-25
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: EdFinancial Services (KS)

My total payments should equal {$2700.00} 1. Payment confirmation # : XXXX Amount : {$1000.00} Date : XX/XX/XXXX XXXX. Payment confirmation # : XXXX Amount : {$250.00} Date : XX/XX/XXXX XXXX. Payment Confirmation # : XXXX Amount : {$1400.00} Date : XX/XX/XXXX For the school year of XXXX, I was a XXXX. For the fall semester XXXX, I took out a {$1700.00} in subsidized loan and {$1000.00} in unsubsidized loan. For the spring semester XXXX, I only took out a subsidized loan of {$1700.00}. The total amount of students loans I took out for the school year of XXXX was {$4500.00}. I have made XXXX payments to my loans. The XXXX  payment was {$1000.00} on XX/XX/XXXX. The XXXX payment was {$250.00} on XX/XX/XXXX. The XXXX  payment was {$1400.00} on XX/XX/XXXX. The {$1700.00} subsidized loan and {$1000.00} unsubsidized loan for the fall semester should be paid off. The first two payments of {$1000.00} and {$250.00} have been applied and are being shown on my account. Initally the first payment of {$1000.00} went only to the unsubsidized loan to XXXX  it out. This left me with a remaining balance of {$1700.00} on the subsidized loan and {$0.00} for the unsubsidized loan. Some time passes on and I look at my loans and see that {$250.00} had been moved from the subsidized loan to the unsubsidized loan due to what I was told was because I was showing less of financial need. This created new balances, decreasing my subsidized loan to {$1500.00} and creating a new balance on the unsubsidized loan of {$250.00} after it had been paid off. So the payment of {$250.00} went to the new balance on the unsubsidized loan. So after that payment was made my new balances was only the {$1500.00} for the subsidized loan and {$0.00} for the unsubsidized loan. But once again as time passes on and I check my loans I saw they had move half of that {$1500.00} to the unsubsidized loan creating new balances once again for the subsidized loan and unsubsidized loan. I do not remember those exact new balances but I do know I paid those off. So the payment of {$1400.00} was the last payment I made and that payment was meant to pay off the remaining balances on the subsidized loan and unsubsidized loan for the fall semester. They only have applied and show the part that went towards the subsidized loan but not for the unsubsidized loan, meaning of the {$1400.00}, {$740.00} has not been applied and is missing. That {$740.00} being shown on the unsubsidized loan is incorrect and should be at {$0.00}. I have contacted Edfinancial multiple times and have sent proof of payment multiple times and this issue has not been resolved and is now going to be going on for about 9 months. Edfinancial has told me they see all XXXX payments and have applied them to my account. But when you do the math of the total amount of payments I have made and subtract it from what I took out in loans, it does not equal the balance that edfinancial shows I supposedly owe. The last phone call I had with edfinancial, the lady I spoke with stated, she saw an additional disbursement of {$750.00} on my unsubsidized loan which could be throwing off my balances and making it look like in total I took out {$5200.00} in loans, which I did NOT. The correct amount of loans I took out was {$4500.00}. So either Edfinancial lost part of the last payment I made or they added an additional disbursement for no reason and that additional disbursement is increasing the total amount of student loans I took out and when you subtract the total amount of payments I have made from the {$5200.00} then it does equal the balance Edfinancial shows that I supposedly owe, but remember I did not take out in total {$5200.00}. I should only have a remaining balance of {$1700.00} on my subsidized loan and {$0.00} on my unsubsidized loan, PLEASE HELP.