EdFinancial Services

Customer service never picks up the phone. If you write to them, they answer late, so you're always in trouble with them. Be careful.

No sense of urgency in getting my identity theft case resolved that occurred in 2019, but they are right on top of reporting "late payments" to the credit bureaus and causing damage to my credit.

It has been impossible to speak to someone. I have made several attempts to reduce my payments based on my pay; each attempt increased my payments. I am expected to pay over one-quarter of my monthly pay, which equates to over one week's income. It is not possible.

It is shocking how little information and transparency there is on their website about your loan, repayment history, how the payments are applied, etc. They would absolutely be in violation of REG Z if federal student loans had been subject to it. There is no clear summary of the credit cost for the consumer. There are no summaries of how much you have paid in principal and interest so far over the life of the loan. You can click into each recent payment and get the information for that one payment, but there is no long-term overview or summary.

They committed a breach of promise regarding proper provision of adequate notice for student loan payments. The information provided to us stated we would be "informed 21 days before the first payment is due." They provided 7 days. We spoke to management on the phone and they said "they don't have to provide that information if your payment decreases." However, this was never made clear in any documentation, and we had no way of knowing this information. They refused to acknowledge any error on their part. We spoke to three different customer service representatives and all three provided different and inaccurate information. We then spoke to manager Keyanna M., who provided no helpful information and "guaranteed to call us back," but never did. One person lied about the information that was provided to us. We spent 3 hours speaking to representatives, trying to obtain a simple solution and get our questions answered. It was wildly unacceptable how little resolution was provided by management. There is no incentive to help students who are trying to properly and accurately pay back their loans. Their practices are unethical and remain unchecked.

They are bad - so many mistakes. My husband uses Nelnet, and they are a stark contrast and better than Edfinancial. Edfinancial took 17 months to switch me from one plan to another. They apologized and offered to compensate me for all the interest paid at that time, but despite 4 phone calls and 3 managers, I have yet to see them correctly refund the interest paid as promised in their email. Also, they falsely reported my tax interest, so now I am waiting for them to make an amendment to my taxes. It's just one mistake after another with this company. I wish I had the right to switch. They are awful.

Worst loan company you can go through! They say you don't have to pay back until you physically have your diploma in your hand, that's a lie! I had a family emergency and had to stay out of school for a year. When I went back, that loan was hanging over my head, and I was no longer able to attend school. They will constantly harass you. Do not use this loan department. I am currently going through the BBB to get this resolved.

They are not what they appear to be I am in debt true but they will not send paperwork just emails .I am very sick and unable to pay but they cannot supply paperwork? They let me down I thought they was better than this so disappointed

If I could give 0 stars, I would. EdFinancial Services is the worst student loan payment servicing company I have ever had a student loan with. They are shady and their practices are unethical. I asked why I was still paying interest during forbearance when they sent me a document stating that my interest would be set to 0. The representative says she cannot see my payments or how they are applied. She will ask for an accounting of my loans. I asked if the accounting department could send me the accounting so I can see what is going on. She responds that they cannot because they don't send personal emails; they will have to call me. I asked when they will call. She responds that there is no timeline or estimate she can provide. Their online servicing platform is horrendous. They are swindlers. I am saving all the paperwork because I am 100% sure that they will face a lawsuit in the future. Slow, sloppy, unethical—just a few things to point out.

Not mine. This account doesn't belong to me. I've already told you this several times. Can you please remove it from my credit? I've also asked this several times. I can't get a response or anything. Please remove it.

Not helpful at all. Can't change the due date to the end of the month, and it takes 35 days to change it, which is still a day too short. They can't answer any questions; they want you to search for the answers yourself. If the current due date is before the 35 days and you can’t pay, they will deny the change.

My loan was just transferred to them from Mohela. After telling me that my acct would not require a payment until transfer of my records is completed, today I received a letter stating that my account is past due. I hate these people already.

This really deserves a negative. I don't know who would give a higher rating. Terrible. Every time I call I get a different answer from a different rep, and there's no way of holding what anyone says accountable.

EdFinancial needs to be investigated by the Department of Education and removed as a student loan servicer. The Department of Education is no better. My payments were applied to someone else's loans and it took 6 months to get my money back. Now, EdFinancial has lost my check yet again. The chat option is always down after wasting time on the AI chat, and after being sent to a form to enter all details that already exist by logging in, it then says the chat is down. Calling in involves a laborious set of menus to verify all data, and then, when you get on the phone with someone, you start over to verify the same data all over again because "that info doesn't transfer."

Should be negative stars. The ONLY way I could contact them was initially via email. This is because their chat is always unavailable, and their phone hold times are literally several hours. And the "ask for a callback" feature? A complete joke. No one is calling you back. It took them five months to finally respond to the first couple of emails I sent, and that was only after I filed a complaint with the government. And the response was... not actually a response. It did not address a single question I had asked in the email. NOW I can't email them either. It keeps saying "invalid character in the textbox". Um, what invalid character? There is literally nothing but letters and a period at the end of each sentence. So I figure at this point they've completely checked out on doing their job. Good luck, folks! I'm guessing we can thank Betsy DeVos for prioritizing her bank account over everyone in the country with student loans.