Knoxville, TN: Edfinancial Services welcomes Compass Bank to its growing list of partner lenders, which now includes 15 of the nation’s top 100 student loan providers. Compass is among the top 30 U.S. bank holding companies and has recently acquired Texas Bank. Edfinancial will service loans for Compass in Alabama, Florida and Arizona.
“We look forward to providing customized student loan servicing to Compass customers,” says Tony Hollin, chairman and CEO. “The synergy between our state-of-the-art servicing and Compass’ established marketing channels will be beneficial for students, families and schools.”
Edfinancial Services offers e-business solutions including electronic billing, forbearance and deferment for borrowers. Online consolidation means borrowers complete the consolidation process electronically. Edfinancial offers a dedicated school call center, eliminating call queues for financial aid professionals. Compliance and Quality Assurance incorporates new clients into the servicing system and facilitates new benefit programs for borrowers. Edfinancial provides life-of-loan servicing in a completely digital environment.
“Effective partnerships help drive this industry, which is why our new relationship with Edfinancial is a positive move for Compass Bank,” says Paul Wright, vice president/student loan marketing manager. “The combination of our branch presence and Edfinancial’s reputation will serve both of us well in our shared markets.”
Edfinancial Services has satellite servicing centers in Jacksonville, FL, so Compass customers will have dedicated state-specific support in that area. Edsouth will provide secondary market services.
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Edfinancial Services is a private corporation headquartered in Knoxville, TN. A top-ten nationwide student loan service provider, Edfinancial Services administers student loan volume in excess of $5.8 billion.