What to Expect While in School 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 […]

Servicemembers Civil Relief Act (SCRA) The SCRA allows members of the Uniformed Services to receive an interest rate cap of 6.00% for qualifying debts and it applies to private, Direct, and FFELP Loans that were obtained before the date you, or the eligible endorser, entered military service. For military service prior to August 14, 2008, […]

  Find Your Tax Info Log In to Your Online Account Check Your January or February Billing Statement Call Our Automated Phone System Tax FAQs How do I get a copy of my 1098-E tax form? During 2023, Edfinancial completed a conversion to a new servicing system to better serve you. The interest paid to […]

Repayment Plan Eligible Loans Monthly Payment and Time Frame Quick Comparison Standard Repayment Direct Loans FFELP Loans All PLUS loans All Consolidation Loans Payments are a fixed amount of at least $50 per month. Up to 10 years (up to 30 years for consolidation loans). You’ll pay less for your loan over time under this […]

Income-driven repayment plans are designed to make repaying your student loan debt more manageable by basing your monthly payment amount on your income, family size, and federal student loan debt. If your current loan payment is high compared to your income, we recommend you repay your loan(s) under one of the following income-driven plans. Seeking […]

There are three general phases in the life of a federal student loan. Not all loans have a grace period, so it’s important to be aware of all of your loan types and when the first payments are due. Understanding the life cycle of your loan will help you when making decisions about your student […]

On This Page Beginning Repayment Repayment for a FFELP Stafford and Direct Subsidized or Unsubsidized student loan begins six months after you graduate, drop below half-time enrollment, or withdraw from school. Making timely payments will help you establish a good credit history and demonstrate to other creditors that you are a responsible borrower, a quality […]

Income-Based Repayment  Available for Direct & FFELP Loans Eligible Borrowers: You must have a high debt relative to your income. Monthly Payment: Your monthly payments will be either 10 or 15 percent of discretionary income (depending on when you received your first loans), but never more than you would have paid under the 10-year Standard […]

Frequently Asked Questions Tax Information Ways to Make a Payment Benefits for Military Servicemembers New here? Welcome to Edfinancial New Borrower? Whether you are still in school, in grace, or ready to start repayment, we are here for you. Helpful Info Transferred Borrower? We want to make this transition as smooth as possible while your […]

Not sure how many loans you have or who is servicing them? Your student loans may or may not all be with the same servicer, and it’s important to find out which companies are servicing your loans. Visit StudentAid.gov for an overview of all of your federal student loans. You will need your FSA ID […]