Complaint Review: Educational Funding Company

The reason for the delay in the cancellation of this account of "lephilatre" was that there was no doctor's signature on the medical release letter. EFC corresponded with the account holder about this and then canceled the account on Nov. 18, 2008, notifying the account holder by letter.

EFC would like to wish "lephilatre" all the best.

--Educational Funding Company

Schools do not usually have control over what EFC does to their students. Regardless of how cooperative your schools would be, EFC harases you by charging your credit card every month for no reasons. EFC does not disclose their email address and never respond to your regular mails (They once replied to my certified mail). So you end up calling them, and if you are lucky, you will be able to speak to the Account Executive, Ms. Mini Vanilie, who does not speak English correctly and has been criticized for her rudenesss and inability to solve financial disputes in other reports of this website. Do not expect speaking to the Account Executive will give you satisfaction or solve your dispute. As I reported here, what you can do is to collect as much necessary information as possible and report your case to BBB and Federal Trade Commission. Keep all records in written forms. In the report to BBB and Federal Trade Commission, specify the names of persons you actually contacted (ex. Account Executive's) so that issues of accountability and responsibility would be clearer when you take further legal steps. Also, do not expect you can directly contact their legal officer or Mr. Nicholas Cokinos, Chairman of EFC, or other executives who should know what they are doing. The Account Executive does not allow you to speak to her supervisers on the phone and they never respond to your letters. It seems, however, they respond to BBB's inquiries. That's why it is important to accumulate the cases through reporting to BBB and FTC so that the responsible sectors would have sufficient legal evidence to work upon in the near future.

did you try to cancel through the school? If so, what was their response.

I am in the same boat as you. I need to cancel a karate school enrollment, but EFC is saying, "You signed up for 18 months.". I have filed a report with the BBB, why did you also submit to the FTC? is this something the can handle? Should I do both? Do you have any idea what the BBB did? How long did it take?

Like others wrote here, I had a problem with Educational Funding Company (EFC) regarding the discontinuation of my contract with a Jiu-jitsu school in NY. They refused to terminate the contract and kept charging me every month. The Account Executive gave me incorrect information about the procedure for the termination of the contract, and they discredited a letter from my primary care doctor stating my current health condition was not suitable for the Jiu-jitsu training. During the 3 months of dispute they kept charging me the monthly tuition despite the fact that I was not able to attend the school anymore.

I filed an official complaint to Better Business Bureau of the State of Maryland and Federal Trade Comission through the Internet because what this company did to me was unacceptable and I thought I had a responsibility to act on this as a consumer in this country. I am a physician by myself (which they did not know) and it was clear to me that EFC tried to discredit the letter from my primary care doctor intentionally. I sent them a certified letter addressed to the chairman of EFC and the Account Executive, requesting them to specify the legal officer who was responsible for my case. They ignored my request but I eventually received a letter from Better Business Bureau that my contract had already been teminated with no balance. I assume there are many people who have had similar experience with this company. I suggest that you keep all necessary information in a written form (all your and their letters, bills, date, time, names of those you speak with on the phone, etc.) and report your case to Better Business Bureau and Federal Trade Comission. And if you are not satisfied with the resolution, speak to a lawyer whom you can trust (ask your colleagues or friends to find the one who is capable and responsible).

I am satisfied with the effort made by Better Business Bureau, but was actually preparing for a further step in case EFC remained injustice. We often have to stand up and ACT to protect our own rights and dignity. And there are resources available to help you.