Consumer complaint received 2025-04-19 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: LA

Complaint narrative:
To Whom It May Concern, I am writing to express my growing frustration and serious concern regarding EdFinancials continued mishandling of my student loan accountdespite my repeated attempts to resolve the matter with proper documentation and through the appropriate channels.

Last year, I submitted a formal complaint along with verified documentation confirming my continuous enrollment in school, which legally qualifies me for an in-school deferment under federal regulations. In direct contradiction to this, EdFinancial added a {$90.00} charge to my accountan action that is not only unjustified but also unlawful. 

XXXX XXXX University submitted official verification of my enrollment directly to EdFinancial. I am once again attaching that documentation. In addition, I received a federal student loan disbursement as recently as XX/XX/year> and have completed my exit counselingclear indicators that I am actively enrolled and compliant with federal guidelines. 

Despite this, EdFinancial continues to ignore these legally binding facts. Let me be clear : students enrolled at least half-time are entitled to deferment under the law. EdFinancials blatant disregard of this is unacceptable and appears to be a calculated attempt to force borrowers into repayment status in violation of federal policy. This is not just negligenceit mirrors the tactics of a predatory financial institution.

I am also deeply disturbed to discover that EdFinancial has changed the login credentials for my account without my consent. This has effectively locked me out of my account, and your password reset process requires an account numberwhich, ironically, can not be retrieved without logging into the account itself. This creates a closed loop that appears deliberately designed to obstruct borrowers from managing their accounts and to increase the likelihood of default. 

What began as a {$90.00} error has now ballooned into a balance of {$1900.00}, despite the fact that I am still actively enrolled in college. This is not only outrageous, it borders on abuse.

Furthermore, it is worth noting that EdFinancial representatives previously expressed dissatisfaction when I declined to enter repayment while pursuing my graduate degree. Let me be clear : EdFinancial has no authority to dictate when I must repay my loans when I am eligible for deferment. The coercive tactics being employed here are unacceptable.

I am demanding the immediate removal of all erroneous charges and a full correction of my account to reflect my lawful deferment status. If this matter is not resolved without delay, I will be filing a formal complaint with the U.S. Department of Education, the Consumer Financial Protection Bureau, and will also seek legal counsel to explore further action.

This continued mismanagement is not only unethical, it is illegal. I expect a response within 10 business days. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation