Consumer complaint received 2024-01-12 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: UT

Complaint narrative:
I took a {$5500.00} federal student loan last year that was disbursed XXXX XXXX sent a payment of {$1600.00} to EdFinancial that was recorded as accepted by the financial institution at the beginning of XXXX XXXX. This was during a big switch of loan servicing systems, and it never showed up on my account. I called about it in early XXXX XXXX  and was told by a representative that the payment was received and that it should show up on my account soon. When it didn't, I called again in the next month or two and they said that they saw that it was received and that it should show up on my account within 5 business days. When it still didn't show, I called again and they said that they would put it on emergency status and that it should show up on my account in the next 5-10 business days. I called on Monday XX/XX/XXXX, and the call mysteriously dropped right when I started to explain my situation. I called back immediately and requested a call-back but never received one. 

I called again on Friday XXXX XXXX XXXX XXXX said that she didn't see the payment but that there was a request for proof of payment ( which nobody had ever told me about ). I sent that proof of payment then called the same day to see if it went through. I was told by XXXX that she saw the uploaded document but that it would take up to 41 days for it to be processed. On XX/XX/XXXX, I called for an update and was told by XXXX that it would take 12 business days for the finance department to scan the uploaded document. Then on XXXX XXXX I received a call from EdFinancial which I was unable to answer. I was also sent an email that was not personalized to my situation but that sounded like they wanted more information. I contacted XXXX to get a check-trace and uploaded a PDF of the check trace from XXXX to EdFinancial on XX/XX/XXXX. I allowed the previous XXXX business days for the finance department to scan it before following up. I called on XX/XX/XXXX and talked with XXXX. She said that she got in contact with someone who asked when I sent in both the receipt ( proof of payment ) and the check trace. At the end of the call it was determined that they had received proof of payment. I allowed time for it to process and called back on XXXX XXXX  where I spoke with XXXX. She told me that research was submitted on XXXX XXXX, but there were no other updates. 

Nothing has been resolved in over 8 months of following up on this payment. I currently have the money to pay this loan off the moment this is resolved, but I am being forced to hold back on making that payment until the {$1600.00} shows up on my account. If I make the remaining payment now, It will result in me missing a payment deadline which will negatively affect my credit score. Because of this delay on EdFinancials part, I am being charged interest which I wouldnt have been charged if this was taken care of on one of the several times they told me it should be taken care of.

Company response to consumer: Closed with explanation