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Explore affordable repayment plans, including the new Saving on a Valuable Education (SAVE) Plan (formerly the REPAYE plan). To learn more about the SAVE plan and other student loan benefits, use the Loan Simulator Tool at StudentAid.gov.
In Spring 2024, you will see improvements to your experience in managing your federal student loans. Beginning March 11, 2024, we will release updates to the look and feel of our website and you will then need to visit us at our new web address, Edfinancial.StudentAid.gov. Additionally, our emails will now come from .gov email addresses.
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Federal Student Aid (FSA) is your federal loan provider. FSA uses servicers (private companies) like Edfinancial Services to manage billing, questions, and payments, and to help you enroll in the best repayment plan for you.
Learn more about Federal Student Aid See your repayment options with Loan Simulator
If you are struggling with your student loans, please fill out this form to get help from the Ombudsman’s Student Loan Assistance Unit.
State of Massachusetts - Ombudsman’s Student Loan Assistance Unit (888) 830-6277
If your loans have a standard, six-month grace period, your first payment will be due approximately six months after you graduate or drop to below half-time enrollment. Make sure Edfinancial has all of your current contact information and explore the different repayment plans and how to make your payments.
There are multiple ways to make a payment. Consider registering for Auto Pay, Edfinancial's automatic-debit payment program, in your online account. With Auto Pay, your student loan payments are automatically debited from your checking or savings account each month. Auto Pay may also reduce your interest rate!
You will generally have up to ten years to repay your federal student loan, but you may be eligible to extend your repayment term up to 25 years or repay your loans based on your income. There are also several options available to temporarily postpone repayment if you meet certain requirements. You can read more about these options below, or if any of these look like they may work for you, give us a call at 855-337-6884 and one of our friendly customer service representatives will help you determine if that is the best plan for you.
You can also log into your online account to explore various repayment options.
Want to pay off your loan as fast as possible?
Use the Loan Simulator to help estimate the potential repayment time and interest savings of making a small, additional monthly payment.
Various repayment plans are available to help you manage your student loan debt. If you are having trouble making payments, there are options, such as Income-Driven Repayment Plans, which are designed to reduce your monthly payment amount. In general, the lower your monthly payment, the more interest you will pay over the life of your loan(s). Student loans accrue interest on a daily basis, so the longer you take to pay it back, the more interest you will accrue.
Our customer service representatives will help you determine the best plan for you and help you apply for your new repayment plan. You may also log into your online account to explore various repayment options and to see if you qualify for a reduced payment.
Representatives are available Monday 8am - 9pm, Tuesday - Wednesday 8am - 8pm, Thursday - Friday 8am - 6pm Eastern Time
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