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Business Profile

Scholarships and Financial Aid

College Foundation, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Scholarships and Financial Aid.

Complaints

This profile includes complaints for College Foundation, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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College Foundation, Inc. has 2 locations, listed below.

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    Customer Complaints Summary

    • 12 total complaints in the last 3 years.
    • 0 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. 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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:08/18/2022

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      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.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      CFNC targets students who cannot afford to pay out of pocket for college education. Their system was only RECENTLY updated from the stone ages BUT prior to that required everything by mail, increasing delivery time, filing time and payments. I set a goal and worked overtime for 3 years in order to PAY OFF my student loans. (YEARS BEFORE FINAL DUE DATE- after 2008 recession, after pandemic, and right before entering another recession ). Why pay off debt that doesn't hold a lot of weight when it comes to credit scoring? because they marked my account 60 days past due when SNAIL MAIL IBR APPLICATIONS CONVENIENTLY DISAPPEAR AND ONCE RESUBMITTED WAS AFTER 60 DAYS WHICH LEFT ME WITH 8 LATE PAYMENTS ON TWO OCCASIONS (FOR A TOTAL OF 16). This company loses documentation more than any politician or white collar criminal in the United States. What does a late payment do to your score? Drop it. What does 16 late payments do ? Practically cut it in half. So I paid in full because I want TO APPLY FOR A MORTGAGE BUT CANNOT BECAUSE CFNC REFUSES TO REMOVE THE LATE PAYMENTS. By law, they can remove it. In fact, Ms ******* and Ms *** said today that CFNC personally chooses NOT TO and the only explanation is because they don't have to. A FEDERAL LOAN SERVICING COMPANY REFUSING TO HELP THE VERY PEOPLE THEY CLAIM TO CARE ABOUT. When asked why CFNC would want to continue to punish student loan borrowers, Ms *** told me "each company is different; CFNC chooses not to and we don't have to explain why." When I asked for the policy, Ms *** responded, "it's an in house policy, not available to consumers." CFNC is a predatory loan servicing agency aimed at damaging the future of student loan borrowers. I should have kept the $40k+ and continued deferment as a healthcare worker. With such disgusting business practices CFNC doesn't deserve the opportunity to serve students in need. I WANT THE POLICY IN WRITING SO I CAN WARN FUTURE STUDENTS TO CHOOSE OTHER LOAN PROVIDERS. COMPANIES WHO CARE.

      Business Response

      Date: 08/24/2022

      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

      Date:08/04/2022

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      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.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I checked my credit report and noticed I had late payments from COLLEGE FOUNDATION INC. At the time, I was transitioning between jobs and going through an economic hardship. As you can see, I have made most of my payments on time so I am asking in goodwill faith for this one time to please remove these late payments from my account. I am trying to increase my score to qualify for a mortgage and I would greatly appreciate if you guys would forgive the late payments.

      Business Response

      Date: 08/08/2022

      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.

    College Foundation, Inc. is NOT a BBB Accredited Business.

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