How do I make a payment to EdFinancial?

You may make payments with your checking or savings account information through our automated voice response system 24 hours a day at 1-866-709-0202. You may also speak to a representative to make your payment during our normal business hours.

Is EdFinancial forgiving student loans?

The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer.

Is EdFinancial a government loan?

As of July 1, 2010, all federal student loans are funded by the federal government through the Federal Direct Loan Program. Loan types include Direct Subsidized, Direct Unsubsidized, Direct Parent PLUS, Direct Graduate Student PLUS (GradPLUS) loans, and Direct Consolidation loans.

Does paying student loans build credit?

Making regular, on-time payments on student loans will help build credit. If you’ve used only one type of credit before, like a credit card, then having a student loan is good for your score because it helps your credit mix.

Does EdFinancial accept credit cards?

Directly, Student Loan Services Don’t Take Credit Card Payments. On face value, student loan services do not have a “credit card payment” option. Student loan services such as Nelnet and EdFinancial take payment direct from accounts like a checking and savings, not credit.

How do IDR plans work?

Income-driven repayment plans provide borrowers with more affordable student loan payments. The student loan payments are based on the your discretionary income. These repayment plans usually provide borrowers with the lowest monthly loan payment among all repayment plans available to the borrower.

Should I recertify my IDR plan?

You are not required to renew or recertify your IDR plan at this time. However, if you want to follow your regularly scheduled renewal date, this would ensure you’re set up with an affordable payment ahead of schedule.