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Auto Debit

KwikPay - Edfinancial's Automatic Debit Program

KwikPay® allows you to make your student loan payments by automatically deducting them each month from a checking or savings account that you designate. The payments will be effective for your due date and this payment option allows you to conveniently make timely payments without having to mail in payments each month.


KwikPay® is a convenient way to make your payments automatically each month. Your student loan payments will be made in a timely manner, and you won't have to worry about mailing in a check each month or logging into your online account to make the payments yourself. While your account is in active repayment and enrolled in KwikPay, you may receive an interest rate reduction of 0.25%*.

* NOTE: Not all lenders offer the 0.25% interest rate reduction for automatic debit. Additionally, for lenders that do offer the 0.25% reduction, it is ONLY effective for periods of repayment; you will not receive the interest rate reduction and your payments will not be drafted during in-school, grace, deferment or forbearance periods.

To register for KwikPay, access your online account at Manage My Account. You may need to create an account if you have not already done so. In the navigation menu at the top of the page, select "Payments" then "KwikPay" and click the green button to "Setup KwikPay."


Can I register for KwikPay® if...
...my account is past due? Yes See "Can I register for KwikPay if my account is past due?" below.
...my loan is paid ahead? Yes Your payment will continue to be debited every month on your due date.1 If you do not wish to make payments while paid ahead, you will need to cancel KwikPay.
...my loan is in deferment or forbearance? No KwikPay payments cannot be made while your loan is in deferment or forbearance. You may, however, make manual payments at any time online, through the mail, or over the phone.
...my account is in grace status or in-school status? Yes You can register for KwikPay if you are within 180 days of the end of the grace or in-school deferment status.

Frequently Asked Questions About Auto Debit (KwikPay®)