Just a quick update: I e-mailed EdFinancial and in a very non-accusatory manner explained that my Federal Consolidation Loan which is owned by IDAPP has recently been transferred to them for servicing and that they may have received some incorrect information regarding the loan since my promissory note clearly states that the loan is for 180 payments and I'm not sure why they think I now have only 17 months to pay it off when it's not due to be payed off til 2014. I got a very nice reply from them saying they are sorry for the confusion and they have put an inquiry into my account to research why I received the letter about the change in terms.
After I time to cool down, I realized that it was very possible there was just a mix-up since the loan was just transferred to them. Since I reviewed my documents and it's definitely a federal loan that can't be changed, I decided there's no point in getting too worked up about it, I just need to let them know that there's a mistake on their end so they can take care of it. I'm supposed to hear from them in the next couple of weeks, so if I don't hear more before the next payment is due, I'll just send the $214.33 and not pay any extra towards the principal until all the information is corrected on their end.
I don't think I can just transfer the loan to Direct Loans because the owner of the loan is IDAPP and apparently they're using EdFinancial to service all their loans right now. If I had more than one loan out, I could consolidate with Direct Loans, but since I only have the one consolidation loan now, there's nothing left to consolidate. I'm hopeful that EdFinancial will get the whole mess straightened out since they know I have proof of my loan terms and I have always been in compliance with those terms.
