Consumer complaint received 2026-01-29 00:00:00
Product: Student loan — Federal student loan servicing
Issue: Dealing with your lender or servicer — Received bad information about your loan
Company: EdFinancial Services
State: NY

Complaint narrative:
I had called EdFinancial, the student loan servicing company I am paying my Loans to. I am a SAVE plan borrower and all of the SAVE plan borrowers have been on a forbearance ( where my loans were frozen both in payments and interest ). until we receive notification from the courts ruling as the new administration was against this savings plan. None the less, I was supposed to be informed of when anything were to change regarding my account and when payments would be starting again. I received no notice, no documentation of the fact that my loans were going to start accruing interest again come XX/XX/XXXX. Unbeknownst to me when I called on XX/XX/XXXX to just check in because I have not heard anything it was brought to my attention I had a XXXX interest accrual to my account. When I had asked the EdFinancial rep who I was speaking with named XXXX he advised that a newsletter was sent to me at XXXX via email and that FSA would have emailed me too. I called FSA and spoke to a woman named XXXX. She advised XXXX XXXX have nothing to do with this and I have to go through my servicer. When I called XXXX back to report this to them I spoke to a woman named XXXX who advised nothing was emailed to me, she didn't know where the previous rep saw that information and that on her end it showed a hard copy of a letter was mailed to me. She acknowledged the discrepancy in this because she noted that my account is checked off for electronic messaging only. So she was unsure why anything would be mailed. I never received anything in the mail. She said that this was done in XXXX. I had asked why then nothing was uploaded to my message center which is how everything has ever been given to me. She couldn't answer that. I had to called EdFinancial back again around XXXX today on XX/XX/XXXX and this time spoke to a woman named XXXX XXXX I decided to keep record of the call in fear that I would once again get a different answer. XXXX advised that there is no indication anywhere on my account that I was ever given any mailing to notify me of my new interest accrual date or time period. I have no emails, no documents in my message center, and never received any hard mail with this information. Not receiving this information is critical to my financial stability with my student loans. Had I been given this information, as well as receiving it timely I may not have a {$2800.00} interest balance ontop of my loan as of today XX/XX/XXXX. This interest bill makes it very difficult for me to pay off to be able to attack my principal balance. It is forcing me to go into retirement savings etc to figure out how to pay off the interest total. Again, not being notified of when this was going to start up again is not fair, not right and negligent on EdFinancial. Every representative I spoke to I had asked if they could provide proof of what they sent me and I was told they couldn't. XXXX, the second call representative I spoke with did say she was leaving a complaint in the system for me and put in for their supervisor to call me back which takes XXXX hours. If I do not hear back from Them I will notify you through an additional complaint as well.

Company response to consumer: Closed with explanation