Important Announcements

A federal court issued an injunction preventing the U.S. Department of Education from implementing parts of the Saving on a Valuable Education (SAVE) Plan and other IDR plans, including – for example – SAVE’s monthly payment formula and loan forgiveness under SAVE, PAYE, and ICR plans. Please check StudentAid.gov/saveaction for more information.

Borrowers can now apply for income-driven repayment (IDR) plans electronically rather than needing to upload an application to our website. Please visit StudentAid.gov/IDR to submit your application. If you already submitted an application through our portal you do not need to apply again.

Edfinancial Updates

Holiday Closings

Our offices will close for the holidays as follows:

  • Tuesday, December 24th (Closing at 5pm EST)
  • Wednesday, December 25th
  • Tuesday, December 31st (Closing at 5pm EST)
  • Wednesday, January 1st

Please note this may result in a higher-than-average call volume following the holidays. We apologize for any inconvenience, and we hope you have a safe and happy holiday season. You can access your account information 24 hours a day by logging into your online account.

If you are a federal student loan borrower who has been impacted by a federally declared natural disaster, you may be eligible for assistance!

Forbearance

If you are a borrower in repayment who was adversely affected by a disaster and is having trouble making payments on a federal student loan, you qualify for administrative forbearance of loan repayment for a period of up to three months. During forbearance, payments are temporarily postponed or reduced. However, interest is still charged during the forbearance period. Please contact us to request this forbearance.

In-School Status

If you are a federal student loan borrower who was not able to complete your school year as a result of the disaster, you will be provided with an extended “in-school” status until you officially withdraw or re-enroll in the next regular enrollment period, whichever is earlier. This action will prevent you from entering repayment status on your loans. Contact your school to request this action.

School Closure

If you are a federal student loan borrower that received loan funds to attend a school identified as “closed school” and, due to the school’s closure, you did not complete the program of study at that school you may be eligible for forgiveness of your loan(s). Please review the terms and conditions listed on the School Closure Loan Discharge Application for additional information.

Additional Resources

Here are some additional resources that may be helpful to you.

If you have additional questions, please contact us.

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