ComplaintsforCollege Foundation, Inc.

Scholarships and Financial Aid

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Initial Complaint
12/05/2023
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I am deeply concerned about the sharing of my nonpublic information with credit bureaus and the resulting inaccuracies on my credit report. This situation has caused significant financial and emotional distress.Under 15 USC **** Section 602, I have the right to financial privacy, and I expect my information to remain confidential.Furthermore, 15 USC **** Section 604(a)(2) states that a consumer reporting agency cannot furnish account information without my written instructions, which I have not provided.I have identified inaccuracies on my credit report from COLLEGE FOUN, impacting my financial well-being. I request these inaccuracies be corrected promptly.Lastly, please remember 15 USC 1666(b), which prohibits treating payments on a credit card account as late under certain circumstances.For reference, my account details are as follows:Account Number: 18****I request a thorough review of my account, prompt correction of credit report inaccuracies, and strict adherence to federal laws regarding my information.Failure to address these issues may compel further legal action. I anticipate your prompt response and resolution to these concerns.Thank you for your immediate attention to this matter.*********,***************************
Business response
12/15/2023
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Initial Complaint
05/08/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Student loans have been paused for almost a year and Ive applied for forbearance periods before student loan debt was haunted. I just checked my credit report and CFNC has filed 4 payments as being 120 days behind but there is no dollar value listed. To date I have yet to receive anything from CFNC until today when a letter was sent about fresh start. How am I being reported as being very late when things are paused? This is doing terrible damage when my family needs a home.
Business response
05/12/2023
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Customer response
05/12/2023

Complaint: 20027785

I am rejecting this response because: I don't understand how my credit has been decimated by loans that now "cannot be located".

Sincerely,

***************************
Business response
05/12/2023
A response was mailed to you on 05/12/23. Please allow time for the letter to be received. If you have further questions once you receive our response, please contact us directly for further assistance.
Initial Complaint
02/21/2023
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
College Foundation is calling to demand student loan repayment when I am attending another college to complete my education. The lady that called was very rude and demanding. I told her that I was attending another college and she got ***** and louder. So if there is anything on my credit report they need to fix the issue and get nicer customer service reps. I eventually hung up on the rude lady.
Business response
03/06/2023
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Customer response
03/07/2023

Complaint: 19442311

I am rejecting this response because: I spoke with **** and he said that they check the clearing house weekly. This is not true because I have been in school since January 09, 2023. So somebody is not doing their job and my credit has suffered and it should be restored.

Sincerely,

*****************************
Business response
03/07/2023
A response was mailed to you on 03/06/23. Please allow time for the letter to be received. If you have further questions once you receive our response, please contact us directly for further assistance.

Customer response
03/08/2023

Complaint: 19442311

I am rejecting this response because: I have not received a letter. When the mailed correspondence is reviewed then a decision will be made to accept the response. Until I get notice this will not be accepted.

Sincerely,

*****************************
Initial Complaint
02/01/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I am a full time student at ****, I have loans with CFNC that should be in forbearance being that I am a student. I have been trying to get them to acknowledge this for weeks because it shows that I am past due. However, they will not and want me to have **** fill out a form confirming I'm a student. They claim that my status has not been reported to the National Clearing house, however, *********** is able to see that I am reported to the clearing house. The easiest solution would be to call and receive customer service, however, no one over the phone helps me. I went through this exact situation in 2020 and it ended up with me taking a hit to my credit with late payments that CFNC will not even talk to me about. I would not recommend CFNC to any student that needs assistance with taking loans for college. I called today, waited on hold for 20minutes only to be hung up on and when I Called back at 5:08 it said they were closed even though their website says they are open until 7PM. I am running into dead ends and need a supervisor to call me back for assistance.
Business response
02/08/2023
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Initial Complaint
01/31/2023
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
1-30-2023. I received a letter from CFI claiming that I have an overdue payment of $00.01. They took my last payment to pay off the loan on 1-10-23. Why was it missing the $00.01, and how could this amount be overdue? They are holding me accountable for their mistake after I paid off a student loan. I was told by cs that CFI will not draft $00.01, but they can write it off. I will not have these criminals report a write off of any amount and effect my credit. I was told by cs that I can bring the one ***** to the officeI will do that.
Business response
01/31/2023
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Customer response
02/04/2023

Complaint: 18954923

I am rejecting this canned response because:
I did receive a phone call the day I made complaints in response to my complaint with the ** Student loan authority ** Attorney General and BBB and was told that I would receive written notification via email stating that my loan is paid is full and credit reporting would reflect no write of the $00.01 that they mistakenly did not draft with my last payment, as well as a letter via US mail. I was told that an inquiry is in place regarding why I got an overdue letter 10 days after I paid the last payment on time. When the person said that I would receive a letter in something like 30 days, and asked to have a preceding email sent that day. The person said that she is requesting now that communication be expedited and an email sent to me today. I have received no email and no letter to date.

Sincerely,

*******************************
Business response
02/06/2023
An email was sent to her on 1/31/23 as requested to her email address on file. If she does not see the email in her in-box she may want to check the Junk or Spam folder to make sure it did not go there. We will also send the email to her again.
Initial Complaint
01/18/2023
Complaint Type:
Sales and Advertising Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I signed a surety loan for my nephew for post graduate program. He did not tell me he had stopped making payments as the loan was in forbearance, which apparently was not true as he had not applied for it. I did not know that he had not made a payment in 206 days - he apparently thought he was covered under the federal plan by deferred payments. I have started making monthly payments and getting multiple telephone calls from the company about back payments and threat of being reported to credit bureau. I do not understand why the majority of the monthly $141.00 payment goes to the accrued interest ( $90.00) rather than the principal balance. Is this a standard practice. I will be paying on this forever. If I asked for a pay off balance, would that also include the daily $3.00 interest charged daily? Thank you
Business response
01/24/2023
CFI has thoroughly reviewed the suretys account. We have responded directly to the surety regarding the results of the review. We will continue to work directly with the surety on any further questions they may have regarding this concern or any other questions they may have on the loans.
Customer response
01/24/2023

Complaint: 18832460

I am rejecting this response because:

Sincerely,

***********************
Customer response
01/24/2023
This response does not ensure that I will not be reported to credit bureau. It also does not answer the question regarding $3 daily interest payment if I were to consider making a pay off balance.
This is for *****************************,
account # *********
Thank you.
Business response
01/25/2023
A response was mailed to you on 01/24/23. Please allow time for the letter to be received. If you have further questions once you receive our response, please contact us directly for further assistance.
Customer response
01/25/2023

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***********************
Initial Complaint
12/27/2022
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I turned in my paperwork for my annual IBR renewal. I was told my monthly payment would be $295. I received my bill for January and they are charging me twice as much with no notice and no explanation as to why. This used to be a good company and they would work with you during financial hardships. Now they are dishonest and employee unqualified people and under train them.
Business response
12/29/2022
CFI has thoroughly reviewed the borrower’s account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Initial Complaint
11/28/2022
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Federal student loan payments are paused and have been paused, I tried to submit an update concerning my IBR on the student loans gov website months ago, but it said I didn't need to submit anything until December, then I got mail saying that I missed the window to update my IBR, and that I now owe 2 missed payments, meanwhile the student loans payments are STILL PAUSED, and will CONTINUE TO BE PAUSED UNTIL JUNE 2023... Then student loans gov website now says I don't have to update my IBR until June 2023, I sent in an update anyway... Today I get a nother notice that I owe money on two missed payments that should have been paused, we're paused, are paused, and I'm told by the student loans gov website that I shouldn't have had any concerns with my IBR, while CFI is hounding me for payments that were not expected of me.
Business response
12/06/2022
CFI has thoroughly reviewed the borrower’s account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Initial Complaint
09/12/2022
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I recently graduated college in May and was told I would be given a 6 month grace ****** before beginning to pay my loan or schedule a repayment plan. I had to sit for state boards and apply for certification and Licensure before getting a job. CFNC has reported to my credit that I am over 90 days late and dropped my score over 50pts within the last few months. I tried to contact them and explain my situation. I was told I didnt have a Grace ****** and that the score would not updated because they werent at fault. I was not allowed to request a hold and was directed to complete a form and request a forbearance after the form was processed. I have been given falsified information. My given grace ****** is not up until November, yet the company is not abiding by that. They do not care about borrowers and are only out to collect funds under false pretenses. I will be in contact with a ** representative regarding this matter as I have made multiple attempts for support.
Business response
09/21/2022
CFI has thoroughly reviewed the borrowers account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Initial Complaint
08/25/2022
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My account was reported 60 days past due and dinged my credit report by 80 points in June of this year. However, all of my loans handled by College Foundation are federal loans and should have been protected from reporting during that time. I would like to have my credit report rectified. I called after noticing the credit reporting and they just said I could put the loan in forbearance. But, I still want the credit report issue resolved. Have not received a response to email about it. My account number is *********. I
Business response
09/01/2022
CFI has thoroughly reviewed the borrower’s account. We have responded directly to the borrower regarding the results of the review. We will continue to work directly with the borrower on any further questions they may have regarding this concern or any other questions they may have on their loans.
Customer response
09/01/2022

Complaint: ********

I am rejecting this response because:
Communications were not clear from CFI that the particular type of federal loan was exempted from CARE act protection. They need to remedy.
Sincerely,

***** *******
Business response
09/01/2022
A detailed response was mailed on 09/01/2022. If you still have further question once the response is received in the mail, please contact us directly to discuss your account.

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