Consumer complaint received 2026-01-19 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Trouble with how payments are being handled
Company: EdFinancial Services
State: MO

Complaint narrative:
To Whom It May Concern, I am filing a formal complaint against ED Financial regarding medical school loans. Over the past several years, ED Financial has repeatedly mishandled our account, causing financial and emotional strain. 
First, ED Financial lost XXXX payments totaling {$23000.00}, despite multiple proofs provided and involvement from our bank. For XXXX months, we endured vague emails, repeated requests for the same information, and delayed responses. Eventually, they admitted to finding XXXX out of XXXX payments but failed to remove the interest accrued during this time. They later gave us verbal via phone they found the third payment and were creating a new account. 

Upon reviewing the account history, I discovered the original XXXX payments were still missing. ED Financials negligence has cost us thousands in interest and unnecessary stress. They have documented history of similar complaints and have even been sued by the Consumer Financial Protection Bureau for misleading borrowers. 
We can not fight this alone. ED Financial must be held accountable for its repeated errors and lack of transparency. 

XXXX, after my son graduated in XX/XX/XXXX and began residency in XXXX, he qualified for mandatory forbearance. We submitted the required form in XXXX, but ED Financial rejected it for being too early. When resubmitted it in XXXX, they denied it again because the program XXXX used an electronic signature. Despite repeated calls and explanations about the directors limited availability, ED Financial refused flexibility. Out of desperation, I drove XXXX hours to obtain a handwritten signature and resubmitted the form on XX/XX/XXXX. As of XX/XX/XXXX, it was still under review, while interest continued to accrue at {$1100.00} per monthon a loan now exceeding {$220000.00} and payments sent due to misinformation on website. It read money was due. I would call and the rep would say it was not due. I sent XXXX more payments in desperation to avoid bad credit. 

XX/XX/XXXX, ED financial finally approved forbearance. They sent me a letter with current loans and payments. I reached back out via email requesting a full audit since it still showed they were missing {$23000.00}. This is {$100.00} shy of the previous missing payments. 

We can not fight this alone. ED Financial must be held accountable for its repeated errors and lack of transparency. Please help us resolve this injustice. 

Regulatory Background & Violations : Federal Forbearance Right : XXXX makes clear that forbearance must be granted to borrowers completing a medical residency. EDFinancials repeated denials constitute an unlawful denial of Federal rights. [ XXXX ], [ XXXX ] Servicer Misconduct : The Consumer Financial Protection Bureau ( CFPB ) has identified pervasive servicer errorssuch as billing inaccuracies and mishandled paymentsand fined servicers ( including EDFinancial ) for such conduct. In XX/XX/XXXX, CFPB sanctioned EDFinancial for misleading borrowers and misrepresenting loan forgiveness options. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  Requested Remedies : XXXX. Accurate Account Correction : Update my sons account to reflect all payments made, including the XXXX missing ones totaling {$23000.00}. 
XXXX. Interest Waiver : Remove all interest and fees charged as a result of EDFinancials mistakes. 
XXXX. Grant Mandatory Forbearance : Approve the pending forbearance request per 34CFR685.205, retroactive to the residency start date in XX/XX/XXXX. 
XXXX. Administrative Review : Provide a full account statement summarizing actions taken and a timeline for resolution. 
We are committed to fulfilling our loan obligationsbut EDFinancials repeated breaches of federal regulations and servicer standards must be rectified. Please act promptly to resolve this matter or direct us to the appropriate regulator for escalated review.

Company response to consumer: Closed with explanation