Consumer complaint received 2026-02-18 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: CO

Complaint narrative:
On XX/XX/XXXX a payment in the amount of {$9200.00} was submitted to loan XXXX by the XXXX on my behalf. On XX/XX/XXXX a payment in the amount of {$7600.00} was submitted to loan XXXX by the XXXX on my behalf. Neither payment was received because Ed Financial changed their mailing address without notifying me. I called and was told they would take approximately 90 business days to process given the address change and to check back then if nothing had been applied after 90 business days. After the 90 business days I called, as no payments had been applied, and I was instructed to open a lost payment request. I did this, and submitted proof of payment from the military on XXXX XX/XX/XXXX. I have called multiple times since then, and there has been no resolution on this missing payment from Ed Financial. They have expedited the request and placed it in XXXX ' status since approximately XXXX, but I still have heard nothing from them. On XXXX XX/XX/XXXX, the military found where the payments had been returned to them because of the change of address. Again, back in XXXX I was told it would not be an issue, it would just take more processing time. Never did Ed Financial inform me the payments would be, or had been returned. The military resubmitted my payments, to the correct address the week of XXXX XX/XX/XXXX. I have opened a new lost payment inquiry, and the payments were finally completed applied as of XX/XX/XXXX, over a year after the original payments were made. As a result of these delayed or lost payments, I was continually charged interest on approximately {$16000.00} that should have been repaid. I was told in XX/XX/XXXX interest would be backdated, however, this was not the case. Further, I am eligible to continue receiving this amount of money each year for XXXX  years, but could not apply for my second year until the original payment was applied. This delayed my application for my second payment. Now due to additional delays with my year two payment, I am looking at not receiving my year three payment as I will be separating from the military after over four years of service. A check in the amount of {$16000.00} was paid to my provider on XXXX XX/XX/XXXX on my behalf through this program. The military has confirmed the check was deposited by my provider. They have yet to apply the money to my account. I have been working through a lost payment request since XX/XX/XXXX. Their document upload system was not working and they didn't receive my proof of payment until I called for an update in XXXX. I resubmitted. Same thing happened, so I emailed them. I was not notified the document was not visible despite them seeing I had uploaded something. I had to reach out for status updates. They finally received the info XXXX XXXX XXXX to the delay the lost payment request was placed in urgent status. Their regular processing time is 8-10 business days. We have exceeded that in what should be a quicker status. The inquiry was resolved on XXXX XX/XX/XXXX, after 15 business days, only to be told the document was not legible and to resubmit. The document was a pdf of an email, and was visible on my end when I submitted it. Additionally, because I had to submit via email, I received a confirmation that the documents were received and the inquiry was being opened. If they were illegible this should have been addressed then, not over 3 weeks later. I have resubmitted the payment proof and am waiting to hear back from this inquiry. 



I have submitted to complaints to the Dept of the Education through StudentAid.gov. Neither of which addressed the issue.

Company response to consumer: Closed with explanation