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Official Servicer of Federal Student Aid
Edfinancial Services is a Servicer to Federal Student Aid
You have a network of support to help you succeed with your federal student loan repayment. Find out how Federal Student Aid partners with loan servicers to be here when you need help.
Support You Can Trust
You can visit StudentAid.gov to see a list of our trusted federal student loan servicers, or submit a complaint directly to the FSA Ombudsman.
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
Federal student loan flexibilities for the COVID-19 emergency have been extended through August 31, 2022. We are updating our websites and systems as quickly as possible to explain the types of relief now available for federal student loans held by the Department of Education. We appreciate your patience. Visit StudentAid.gov/coronavirus for updates. Additional information can also be found at Edfinancial.com/COVID-19.
Auto Debit (KwikPay) Confirmation Required
Act now if you’re enrolled in Auto-Debit (KwikPay®) to ensure your KwikPay payments resume after the COVID-19 payment suspension ends.
Failure to act may result in loss of benefits associated with KwikPay. Log in to your account now to confirm your KwikPay enrollment.
The U.S. Department of Education (ED) announced a temporary change to the Public Service Loan Forgiveness (PSLF) program rules under the limited PSLF waiver!
Now, for a limited time, borrowers may get credit for past periods of repayment that normally wouldn’t qualify for PSLF. This includes borrowers with FFELP loans who consolidate into the Direct Loan Program by October 31, 2022.
To learn more about the limited PSLF waiver, including any actions you may need to take to gain access to these benefits, visit StudentAid.gov/PSLFwaiver or Edfinancial.com/PSLFwaiver.
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There are several payment options that are available. You can pay online, sign up for auto debit, call us, and more.
There are repayment plans that include loan forgiveness, and several reasons why a loan may be discharged.
Payments are not required while you are in school, but it is good to stay informed about your loan balance, interest accrual, and more.
After you graduate or fall below half time, your grace period of 6 months begins. Review available resources to help you get ready for repayment.
Now that you are paying back your student loans, be informed about your payment options, interest reduction benefits, and more.
Parent PLUS loans are taken out for a student, but are the parent's responsibility. Be informed about your payment options, and more.
While you are in school and enrolled at least half-time, you don't have to make any student loan payments, and you can focus on your studies. It is important to work with your school's financial aid office and keep up with deadlines or other requirements.
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. Learn more about the Life Cycle of a Student Loan.
Address change? New phone number? Newly married? Transferred to a different school? Edfinancial will need to know about any changes so that we can send you periodic updates detailing your outstanding balance, payment due dates, etc.
If you decide to take a break from school or fall below half-time enrollment, any student loans that you have will enter their grace period, unless grace has been exhausted. If this is the case the loan(s) will enter repayment. Consider all of your options and talk with your academic advisor, financial aid counselor, and student loan servicer(s) to find out the effects of leaving school early.
A grace period is the time in between graduation (or a drop below half-time enrollment) and the time your first payment is due. This six-month period of time allows you to adjust to life after college and find employment. You are not required to make payments during this time, but if you can afford it, making even small payments can save you interest and lower the total cost of your loans.
After you leave school, it’s important to understand how your student loan payment can affect your finances so choosing the repayment plan that works best for you should be a top priority. You will have the option to explore repayment plans and choose the plan that best suits your needs when you complete loan exit counseling, but feel free to contact us at 855-337-6884 and one of our friendly customer service representatives will help you find the right plan.
You may view your loan information and make payments online through Manage My Account (MMA). You must first register as a new user and log in to your online account to access your information.
After selecting a repayment plan, you will be able to view your repayment schedule in Manage My Account. This document will provide important details about repayment including your due date, monthly payment amount, amount of interest to be repaid, etc.
In addition to viewing your repayment schedule, your online account will allow you to make a payment, view your loan details, update your demographics, explore repayment options, and much more.
You can "Sign up for eStatements" in Manage My Account. Once you read and agree to the Terms and Conditions, you will begin receiving your correspondence electronically! We will send courtesy emails to the email address on file for your account to alert you when there are new statements and other important correspondence regarding your account.
Enroll to receive text alerts to help you manage your student loan account with notifications about repayment, billing statements, upcoming due dates, status updates, and more.
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.
Learn more about repayment
There are multiple ways to make a payment. Consider registering for KwikPay®, Edfinancial's automatic-debit payment program, in Manage My Account. With KwikPay, your student loan payments are automatically debited from your checking or savings account each month. KwikPay 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 Manage My Account and select "Payments" in the top menu to explore various repayment options.
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 Manage My Account and select "Payments" in the top menu to explore various repayment options and to see if you qualify for a reduced payment.
The Federal Parent PLUS Loan is for parents of dependent students and is based on credit worthiness. Under this loan program, parents may borrow up to the cost of education at a particular institution minus any financial aid a student receives.
A Parent PLUS Loan is made directly to the dependent student’s school under the parent’s name, not the student, so responsibility for repayment rests with the parent. Repayment begins within 60 days of the final loan disbursement, unless you choose to postpone repayment while the student is in school at least half-time. Typically a Parent PLUS loan is repaid within ten years, but you may be eligible to extend your repayment term up to 25 years depending on your total outstanding balance.
Learn more about PLUS loans
When the benefitting student of the PLUS loan you obtained is enrolled at least half-time at a Title IV school, you can request to have your PLUS loan put on a deferment. The deferment would be applied to place your payments on hold for the duration of the student's enrollment, as long as they continue to be enrolled at least half-time.
As an added benefit, you may also request a six-month post-enrollment deferment after the benefitting student drops below half-time enrollment and/or graduates.*
* For loans disbursed on or after July 1, 2008
Give us a call at 855.337.6884 or email firstname.lastname@example.org to see if you qualify for these deferments and have them applied to your account today!
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