We have updated the design of your Federal Family Education Loan Program (FELP) Loan account statement so that you have a clear and concise summary of your student loan account with us.
Get to Know Your Account Statement
There is a new look to your Edfinancial Services FFELP Loan account statement. This overview highlights the features of the new account statement layout.
Get in touch with us
We want to make sure you always know your options for getting in contact with us - so our contact information will be included on your account statement. The new statement will also provide you with a list of everything you have access to 24/7 through Manage My Account.
Your Student Loan Account Details
The biggest change to the account statement is the new feature, "Your Student Loan Account Details." This is a clean, easy-to-read account detail section that provides important information regarding your student loan account.
All statements include the same information in the "Your Student Loan Account Details" section, but there are slight differences depending on whether you are enrolled in KwikPay®, Edfinancial's automatic debit payment program.
Now you will be able to see your current student loan account details at a glance. Here you can track your current balance, the date of your last payment made, and your current amount due.
Making Your Payment
There are several options available to you to make your payment - online through Manage My Account, signing up for KwikPay® or through the mail.
At the bottom of the “Your Student Loan Account Details” section, you will find your current amount due.
For those enrolled in KwikPay, this section will indicate the date and the amount of the payment to be debited from your bank account.
The tear-off payment stub is located at the bottom of the front page and can be used to send a payment in by mail or update Edfinancial Services with new contact information. It also includes instructions for special payment application.
Get Your Loan Details
The back page of the account statement is where the Account Snapshot and Billing Summary has been relocated. They contain the same information that was included on your previous statements; they were simply relocated to the back page for ease of reading your account statement.
Here, each of your loans will be listed separately by group. You will also find the interest rate for each loan group and the payoff amount of each group as of the date listed on the statement.
Find the Answers
The “Important Information” section from the previous bill layout is still located in the middle of the back page and contains the same information as before, including:
- Assistance available to lower or postpone your payments
- Benefits of making extra payments
- Application of payments to your loan(s)
- Calculation of interest on your loan(s)
As always, if you can’t find the answer to your question here - please contact us!
We hope the changes to your account statement make it even easier than before to obtain and understand the information you need to successfully repay your student loans.
Visit Understanding Your Statement