I have always been on PAYE, and I did my income recertification on time in March via linking to IRS tax returns. Studentaid.gov processed it and said my new PAYE payment would be $448. Studentaid.gov also says that my loan servicer (EdFinancial) has processed the recertification too.

    I talked to EdFinancial on April 13th to confirm and they stated that my payment would indeed be $448 starting in May.

    Today I received an email from EdFinancial stating that my May payment will be $4,460–the standard amount. I cannot afford this. When I login to EdFinancial it says this huge amount is due too.

    I immediately contacted EdFinancial and they said this $4,460 amount is incorrect and they haven’t finished processing my recertification yet. They said to disregard to $4,460 payment due.

    Here’s my issue: I have dealt with loan servicers for years and when they tell you incorrect information or don’t fix things that they say they are going to fix there is typically zero accountability.

    I am nervous that my May 17th due date is going to arrive and I will still have $4,460 due.

    I will obviously check back before then, but what can I do here? I have done everything correct but EdFinancial is still not coming through. I recertified in March via linking to the IRS tax returns so it shouldn’t take forever.

    And even if it does take them forever to process, shouldn’t they place me in processing forbearance and not standard repayment?

    Help me understand these EdFinancial shenanigans please?
    byu/user323712109 inStudentLoans



    Posted by user323712109

    1 Comment

    1. If they can’t fix it by then they will put you in forbearances. Just give them the time

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