EDFinancial Services / Asking for taxes and how much

1 ID, United States Review updated:

I called ED Financial services to find out what happened to my form that i sent in for a forbearance/Deferment and they say they never got it and then to top of that they are asking me about my taxes and how much we are suppose to get back. Then the guy ( David) asked me if i had a job and i told him no three or four times and i told "David" that I'm on DISABILITY at three or four times and he also asked me if i ever went in to the Labor Department to find a job. That guy was really ignorant and i will not give them any information on our taxes, and i don't think its none of their business at all. Is it Legal or Illegal for them ask about your taxes and how much you get back. Besides i sent them an e-mail saying i will DECLINE to answer any questions about our taxes.

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  • Na
      9th of Jun, 2012

    I am having problems with them as well. I tried to make a large payment towards the principle of my school loan and the customer service rep at Eds Financial informs me that I can't make payments towards the principle of the loan and that I have to pay off all the interest first. In other words, I will never get out of school loan debt. I am trying to pay the principle down so I don't end up owing thousands in interest payments but according to them this is not possible. This is nothing but predatory and I plan to pursue this further. Anytime someone wants to pay down the principle of their loan to avoid years of interests payments they should be able to. Not according to Eds Financial.

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  • Ad
      20th of Mar, 2016

    I totally agree with all the complains made towards Edfinancial. I don't understand how this is possible, our students loans go from lender to lender without caring about the future of our country. "Us" the students. Out of all three different lenders Edfinancial seems to be the same one predator that feeds from the weak without scrupulous. Once my loans enter repayment again a customer representative named David was rude and told me that cannot go under unemployment because my six months break had expired, well fine. Even before repayment I started paying my smallest loan balance of 500 that I borrowed for books I made around 300 payments thinking ok about to be done. Well, for the repayment I was being billed an amount that I did not disputed just sent payments and after 6 payments my payments almost double from 150 to 250. When I called I was TOLD THAT THE EXTRA PAYMENTS RECEIVED BEFORE REPAYMENT PAID FOR EXTRA BREAK IN PAYMENTS DURING THE 6 MONTHS of 150 a month but now that it exhausted that extra amount towards that loan principal it was time to pay for all the loans at once that total between 230-250 a month. The kicker here is that the loan that I was not being charge payments fused with a higher loan with higher interest 6.8 and while the extra payments freeze that loan payment the loan continue to accrue interest of around 300 in that period. So, now I have a payment with a little a loan that under 80 month payment nothing goes to principal just interests. Really, are they really allow to do this type of abuse to students. There are so many young dreamers that in the process of achieving a better life get caugh with this type of unscrupulous institutions, but the words part is that is our government who indirectly set us for failure.

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