Consumer complaint received 2023-10-04
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Don't agree with the fees charged
Company: EdFinancial Services (DC)

I am currently a second year XXXX XXXX. I took out federal loans for the first time last year, for XXXX XXXX. In XX/XX/XXXX, at the start of my second semester, I received a letter from EdFinancial that they had received confirmation of my enrollment, and my loans would be placed in " in school '' status. 

At the end of XX/XX/XXXX, I became aware that my loans had been incorrectly placed in " repayment '' on XX/XX/XXXX, the same day as the aforementioned letter was sent to me. On XX/XX/XXXX, I received a second letter notifying me of enrollment confirmation for this fall, and that my loans would again be placed in " in school '' status. This never happened. My loans from XXXX are in repayment, with {$740.00} dollars due on XX/XX/XXXX, despite the fact that I am in school, EdFinancial knows I am in school ( as expressed by their letters ), and my loans should not enter repayment until after my graduation in XX/XX/XXXX. My new loans for the current academic semester, Fall XXXX, are listed one as in " deferment '' and one as " in school. '' At the beginning of XXXX, I tried to discuss with my school 's financial aid office whether this was an issue they had seen before, or what I needed to do to resolve it. Eventually, it became clear that I needed to contact EdFinancial directly. On XX/XX/XXXX, I sent an email through EdFinancial 's online platform to regarding this issue, and received no confirmation, copy of my email, or response. On XX/XX/XXXX, I called EdFinancial to resolve the issue. I was told by the automated system that there was a 254 minute wait. I eventually received a call back at XXXX on a Saturday, when they are not typically open, and did not answer the phone fast enough. They left no information on how to call back without waiting in the entire queue again. On Monday, XX/XX/XXXX, I called again, receiving a callback at XXXX that night. I spoke with an EdFinancial employee, and explained the issue. She could not tell me what had gone wrong, but said that she was correcting my loan status to " XXXX XXXX  '' as we spoke. She also said that it could take up to a week for my loan status to appear corrected in my online EdFinancial account, and that I should also receive a letter/message from EdFinancial in my online inbox alerting me to the status change. 

Today is XX/XX/XXXX, nine days later, and the status of my loans is still incorrectly listed as in repayment. Supposedly, EdFinancial still expects me to pay them {$740.00} on XX/XX/XXXX ( in 12 days! ), as well as going forward, as my status is still listed as " payment due. '' As previously mentioned, I am still very much in school, the same education these loans were taken out to finance. Being in school full time, and thus not employed, I will not be able to pay this payment, and I need CFPB and EdFinancial to ensure that not only my loan status is corrected, but that if the process goes on past XX/XX/XXXX, the payment due date, that any penalty is erased/corrected so that this does not affect my financial future. A note : my account number seems to have changed when EdFinancial migrated to a new online platform. The XX/XX/XXXX letter and the XX/XX/XXXX letter have different account numbers listed.