Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
08/23/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
MEFA account ************ I received mail correspondence from MEFA 8/19/24 and 8/20/24 indicating I was the borrower for a student loan that I thought I was just the cosigner for and my STUDENT daughter *********************** is the ***Signer for the loan, so I called ************ on 8/20/2024 to describe the situation and to get it corrected. The woman who took my call did some searching and indicated that since we chose MEFA CR (fixed rate) loan vs other MEFA loan options that the parent becomes the borrower. This was not at all clear to us when we were signing up for the loan. While filling out all the forms I indicated my daughter as the student and myself as the cosigner and there was never any mention that this was a parent loan. I do remember it asking what type of loan we wanted whether it be fixed or variable rate, which I do remember selecting fixed, which evidently was the MEFA CR loan, but it was not highlighted that this would flip who is the borrower and who is the co-signer. To me this is very deceptive and I would not have signed up for this, if I had realized. I asked them to either change the loan or change who is the borrower, but since there was already a distribution of funds to my daughters school ISU, she indicated there was nothing she could do. This led me to file a BBB complaint.
Business response
08/30/2024
Hello,
MEFA has spoken directly with the consumer to address their concerns and remains available to assist with any additional questions or concerns.
Thank you
Initial Complaint
05/14/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I'm urgently contacting you about the inaccuracies on my credit report resulting from the disclosure of my personal information to credit bureaus. This has caused significant financial and emotional distress.In accordance with 15 USC 1681 Section 602, I assert my right to financial privacy and expect my information to be handled confidentially.Moreover, under 15 USC 1681 Section 604(a)(2), a consumer reporting agency cannot disclose account details without my explicit consent, which I haven't given.The discrepancies related to AES/MEFA have negatively impacted my financial situation, necessitating immediate correction.I also emphasize adherence to 15 USC 1666(b), which prohibits creditors from treating credit card payments as late under certain circumstances.Below are my account details for your reference:Account Number: **********************I urgently request a thorough review of my account, prompt rectification of the credit report inaccuracies, and strict compliance with federal laws governing my information.Failure to address these concerns promptly may result in legal action. I appreciate your immediate attention to this matter.Sincerely,***********************Business response
05/14/2024
MEFA is unable to confirm a relationship with the consumer based on the combination of information provided with the complaint. MEFA encourages the consumer to contact MEFA directly, so that we may identify/validate the consumer's information and provide assistance. The consumer may contact me directly at ************. Thank you.Initial Complaint
05/20/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
My daughter had a student loan through MEFA, I co-signed for it. She had to take a semester off due to medical issues. As a result they made the loan due, she was not able to pay because she was out on medical leave. She is now disabled and on disability. They should not be able to do that to a student in a medical crisis, we were misled into thinking the loan would be deferred until she graduated. On top of all this they are taking us to court at a time when all other student loans are on hold due to a pandemic. But they do not care. This loan should be deferred until she graduates and when the student loan pause has been lifted. They are a predetory lender.Business response
06/10/2022
MEFA has reached out directly to the consumer and will remain available to assist her.
Thank you
Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.