As you determine the best way to finance your education, you should consider the full range of student financial aid options available to you. Private loans are often used to supplement federal student loans, when federal loans are not sufficient to cover the full cost of education. Private student loans also offer students flexibility in […]

There are various ways of paying for college. Student financial aid can include college scholarships, student loans, grants, or work study. Use the links below to learn about the different types of federal and private loans available. Also check out this Federal Student Loan Comparison Chart and Interest Rates for Federal Student Loans. Federal Subsidized […]

PLUS Loans for Graduate and Professional Students A PLUS loan option is available to help graduate students and professional students pay for college. As of July 1, 2006, a graduate student or professional student may borrow a Federal PLUS loan to help with educational expenses. With benefits similar to the traditional PLUS loan for parents, […]

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. Repayment of a PLUS Loan begins within 60 days of final disbursement and can […]

The Federal FFELP and Direct (Subsidized and Unsubsidized) Loan has interest rates well below average and special repayment schedules. The money you borrow must be used for school costs including tuition, fees, books, supplies, and room and board. See Also Take a look at the Federal Student Loan Comparison Chart, provided by Federal Student Aid, […]

How is student loan interest calculated? Most student loans (including all federally guaranteed loans) use a method of interest accrual known as “simple interest.” The difference between simple interest and compound interest (the type of interest that accrues on most major credit cards) is that simple interest is only calculated on the principal balance, not […]

Headquartered in Knoxville, Tennessee, Edfinancial Services is your student loan servicer. We provide customer service on behalf of your lender, including answering your questions, helping you with repayment plans, and processing your student loan payments. We’ve been in the student loan industry for over 30 years, and we strive every day to find a better […]

Federal Parent PLUS Loans 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. Compare Federal Loan Programs PLUS Loan Repayment A Parent PLUS […]

What to Expect While in Repayment 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. […]

What to Expect While in Your Grace Period 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 […]