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Direct Loans FAQs

Direct Loan Transfers

Who is Edfinancial Services?

Your federal student loan(s) is owned by the U.S. Department of Education and 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 20 years, striving to find a better way every day to deliver exceptional student loan servicing for students and families nationwide. It is our mission to do the right thing for our customers and each other.

How can I verify that Edfinancial really is servicing my loans?

Student loan borrowers are able to validate the legitimacy of Federal Loan Servicers on the following U.S. Department of Education/Federal Student Aid website at http://www.ifap.ed.gov/ifap/helpContactInformationDetailedList.jsp?lsc=2. In addition you may view your loan information and verify the servicer of your loan(s) via the National Student Loan Data System (NSLDS). ESA/Edfinancial will be identified in the NSLDS as follows:

  • Servicer Name: ESA/Edfinancial
  • NSLDS Name: DEPT OF ED/ESA-EDFINANCIAL
  • NSLDS ED Servicer Code: 501
Does the loan transfer affect all of my student loans?

Not necessarily. This transfer only involved federally-owned loans that were serviced by a U.S. Department of Education servicing center. If you have private student loans or other federal loans originated by a private lender and serviced at another center, those loans would not be a part of this transfer.

You may view your loan information and make payments online through Manage My Account. You must 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 will have access to My Secure Messages, Edfinancial's convenient and secure online message center where you access your billing statements and other correspondence. By providing a valid email address, you will receive a courtesy email notification when a message is available in your My Secure Messages inbox.

You may also visit the National Student Loan Data System for an overview of all of your federal student loans. You will need your federal PIN (personal identification number) to access the information.

I recently applied for deferment, forbearance, or a repayment plan change with my previous servicer. Do I need to reapply with Edfinancial?

If your previous servicer applied the deferment, forbearance, or repayment plan change to your account before the loan was transferred to Edfinancial Services, you do not need to reapply. If you did not receive confirmation from your previous servicer that the request was applied, please contact us to determine if you need to take any additional steps to complete the process. You may contact us by phone, mail, or email.

Online Account Access

How do I access my account online or contact someone about my account?

You may contact us by phone, mail, or email. You may view your loan information and make payments through Manage My Account. You must 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 will have access to My Secure Messages, Edfinancial's convenient and secure online message center where you access your billing statements and other correspondence. By providing a valid email address, you will receive a courtesy email notification when a message is available in your My Secure Messages inbox.

Do I need to create a new account to access my loan information online?

Yes. You may view your loan information and make payments online through Manage My Account. You must 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 will have access to My Secure Messages, Edfinancial's convenient and secure online message center where you access your billing statements and other correspondence. By providing a valid email address, you will receive a courtesy email notification when a message is available in your My Secure Messages inbox.

Is the Edfinancial website secure?

The security of your personal information is important to us. When you enter sensitive information (such as a social security number) on our registration or order forms, we encrypt that information. We follow industry-accepted best practices for protecting personal information, both during transmission and at rest on our systems. While no method of communication over the Internet or electronic storage is ever 100% secure, we have gone to great lengths to protect your personal information through the use of layered firewalls, intrusion detection/protection systems, file level encryption of data while at rest and encryption of data while in transit over our network. All systems provide extensive logging and automated reporting of issues enabling timely response, interdiction and corrective actions if necessary.

If you have any questions about security on our Web site, you can contact us via our email contact form.

Payments

I just sent a payment to my previous servicer. What should I do?

If you recently made a payment to your previous servicer, the payment will be forwarded to Edfinancial. Payments sent to the Direct Loan Servicing Center must be redirected by the U.S. Treasury.

Redirected payments will NOT post to your account until the payment is received by Edfinancial Services, which may take several weeks. Once received, the payment(s) will post with the effective date that the funds were received by the Direct Loan Servicing Center, but your account may show as past due in the meantime. To make certain payments are applied to your account in a timely manner, please ensure that future payments are sent to the address below along with your name and account number.

US Department of Education
P.O. Box 105193
Atlanta, GA 30348-5193

If you make your student loan payments via a bill pay service, please ensure your service is updated with the correct payment address.

If you were not already enrolled in auto-debit payments, the fastest and most convenient way to make payments is by submitting them online through Manage My Account or by requesting automatic payment deduction through Kwikpay.

If I was signed up for automatic debit (KwikPay®) with my previous servicer, will my payments continue to be drafted?

Yes. The bank account information used will be transferred to Edfinancial Services and your payments will continue to be automatically debited each month.

Note that effective in May 2013, the KwikPay "Override" feature was discontinued. As of May 2013, KwikPay will debit the monthly payment on your due date each month even if your account is paid ahead. KwikPay will also debit if your account is past due. Additionally, KwikPay can no longer debit if your account is in a deferment or forbearance. If you wish to submit payments during a deferment or forbearance, you may do so by mail or online through Manage My Account. If you would like to make any changes to KwikPay, please visit your online account through Manage My Account. Once logged in, select "Manage KwikPay (auto-debit)"" to make any changes. Please note that we need at least 10 days' notice to make changes to your KwikPay information or to cancel a scheduled draft. If you do not see your banking information online, you must re-enter your banking information into Manage My Account or contact us to make changes.

Why am I not able to edit my bank account information for auto-debit payments (KwikPay®) in Manage My Account?

If you were already enrolled in auto-debit payments with the Direct Loan Servicing Center, the bank account information used was transferred to Edfinancial Services, and your payments will continue to be automatically debited each month. However, this transferred bank account information does not appear in Manage My Account. If you would like to make changes to KwikPay®, you must re-enter your banking information into Manage My Account.

If you change your banking information in Manage My Account at least ten (10) business days prior to the next payment due date, the new bank account information will be used for your future auto-debit payment(s) instead of the bank account information that was transferred to Edfinancial Services from the Direct Loan Servicing Center.

Can I make online payments?

Yes. You may view your loan information and make payments online through Manage My Account. You must 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 will have access to My Secure Messages, Edfinancial's convenient and secure online message center where you access your billing statements and other correspondence. By providing a valid email address, you will receive a courtesy email notification when a message is available in your My Secure Messages inbox.