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Frequently Asked Questions

Here you can find answers to many common questions, learn about student loans, and get some good advice on managing your student loan debt after college.

General Information

Who is Edfinancial Services?

Edfinancial Services is your student loan servicer. We will be the ones to answer your questions, help you with repayment plans, and process your student loan payments. We've been in the student loan industry for over 25 years, striving to find a better way every day to deliver exceptional student loan servicing for students and families nationwide. It is our mission statement to do the right thing for our customers and each other.

What are the phone numbers and hours of operation for Edfinancial Services?

Local Telephone:

Hours of Operation for Customer Service
Monday through Thursday, 8:00 a.m. to 8:30 p.m. ET
Friday, 8:00 a.m. to 6:00 p.m. ET

Direct Loans
Use for account numbers beginning with "F"

Toll Free (general inquiries and phone payments):

FFELP & Private Loans
Use for account numbers beginning with "C"

Toll Free (general inquiries):
Toll Free (phone payments):

Please visit our contact us page for more information.

How do I access my account online?

You may view your loan information and make payments online through Manage My Account. You must first register as a new user and log in to your online account to access your information. Once you have logged in through Manage My Account, you may "Sign up for eStatements" and have access to your billing statements and other correspondence.

What's the difference between federal student loans and private student loans?

Federal student loans are guaranteed by the federal government through the Direct Loan, FFELP, or Perkins Loan program. Federal loans include Subsidized and Unsubsidized, Parent PLUS, GradPLUS, and Consolidation loans which come with flexible repayment terms to help students of various economic backgrounds gain access to higher education. The interest rate for a federal student loan depends on the type of loan and the time in which it is disbursed; however, the rates are set by the U.S. Department of Education.

Private loans are not guaranteed by the federal government. They are similar to bank loans and their interest rates may be based on a variable index, such as Prime or LIBOR. The interest rate for private loans will depend on the borrower's, and sometimes the co-borrower's, credit history. Private loans are intended to close the gap between the amount students can borrow under the federal student loan programs and the cost of higher education.

How do I know which loan type I have?

Not sure of your loan type? Read more. You can also view a centralized listing of all your federal student loans via the National Student Loan Data System (NSLDS) at www.nslds.ed.gov.

You may have a Federal Family Education Loan Program (FFELP) or private loan if you previously visited Edfinancial.com for your online account access or received your correspondence from Edfinancial Services (prior to 2012) or know that you borrowed from a private lender (you may have chosen a lender from a list when you originated your loan).

You may have a Direct Loan if you previously visited www.myedaccount.com for your online account information or received a welcome letter from Edfinancial Services instructing you that we are now servicing your "Federal Direct Loan".

Can I apply for more loans through Edfinancial Services?

Edfinancial does not originate federal student loans.

If you need a federal student loan to attend school, you must first complete the Free Application for Federal Student Aid (FAFSA®) at www.fafsa.ed.gov. You will need a FAFSA ID to sign your FAFSA electronically or make corrections to your FAFSA and, if you do not already have an ID, you may apply for one once you begin the FAFSA process. You must complete the FAFSA each year you wish to be considered for federal student loans. Based on the results of your FAFSA, your school will send you a financial aid offer (or "award letter"), which may include federal student loans. Your school will tell you how to accept all or a part of the loan(s). Before you receive your loan funds, you will be required to complete entrance counseling and sign a Master Promissory Note (MPN). Contact the financial aid office at the school you are planning to attend for details regarding the process at your school.

How can I authorize Edfinancial Services to release information about my account to a third party?

Please complete the Third Party Authorization "Information Release" form and return to Edfinancial Services. Please note this form only authorizes the release of information; it does not give authorization to make changes on the account such as requesting deferments, forbearances, or due date changes. Only the borrower, their Power of Attorney, Plenary Guardian, or an endorser/cosigner can request these changes to an account.

How can I obtain a letter regarding my account for my mortgage company?

You may print a loan summary letter via your online account. Simply log into Manage My Account and select "Inbox and Documents" under the "More" menu.

My last name changed. How can I update this?

Please mail, fax, or email a copy of your name change documentation along with your account number and a written request to change the name on your account. Acceptable documentation includes a copy of a court order, marriage certificate (or divorce decree), an updated copy of your driver's license or social security card, or Certificate of U.S. Naturalization.

Why does my consolidation loan look like two loans?

A Federal Consolidation Loan is one loan but, in order to accommodate the possibility of you receiving interest benefits on the subsidized portion of your consolidation loan, Edfinancial loads the loan with separate servicing records for the subsidized and unsubsidized portion of the consolidation loan.

Where should I send documentation to request a repayment plan change or submit income documentation?

Use this address to send a letter or to submit documents to Edfinancial Services.

For timely posting, please do NOT mail payments to this address.

Direct Loans
Use for account numbers beginning with "F"*

Edfinancial Services
P.O. Box 36008
Knoxville, TN 37930-6008
Fax: 865-692-6348

FFELP & Private Loans
Use for account numbers beginning with "C"*

Edfinancial Services
P.O. Box 36014
Knoxville, TN 37930-6014
Fax: 865-692-6386

*You can view your account number from the Home screen in Manage My Account.

I have been contacted by and/or have heard about companies that offer assistance with student loan debt. These companies claim to help negotiate my payments or reduce or forgive my debt for a fee. What should I do?

You must research the company carefully to assure the offer is legitimate. Please keep in mind that you can always call your student loan servicer to inquire about available repayment options including the ones that may reduce your monthly payments considerably based on your income. You don't have to pay someone for this assistance.

What if I have been impacted by a disaster?

If you are a federal student loan borrower who has been impacted by a federally declared natural disaster, you may be eligible for assistance such as temporarily postponing your payments. Visit our Disaster Assistance page for more information.

Manage My Account

Here is a list of frequently asked questions about managing your student loan account(s) including questions about billing and statements, interest and fees, credit reporting, taxes and more.

Repayment Options

There are a variety of repayment plans available to meet the needs of almost every borrower. With the income-driven options, you may qualify for a payment as low as $0.00 per month if you have very low or no income.

Making Payments

Learn ways to make payments to your student loan account.


Read frequently asked questions about automatic debit.

Deferment and Forbearance

Learn more about options to postpone your loan payment.