If you’re a student or new graduate in the United States, you’ve likely heard of Edfinancial, one of the largest federal student loan servicers. This typo in the servicer name — Edu Financial instead of Edfinancial Services — is frequently discovered by borrowers, who come across it when search for information or help with their loans. In this guide, we’ll cover everything you need to know about Edfinancial: how it works and how to effectively manage your student loan repayment with their help.
What is Edfinancial?
Edfinancial Services is one of several companies that the U.S. Department of Education has contracted to service federal student loans. They are responsible for day-to-day loan management tasks, such as:
- Processing payments
- Supporting repayment options
- Processing deferment or forbearance requests
- Helping borrowers navigate loan forgiveness2.
While “Edu Financial” may show up in your search results or emails, the proper name is Edfinancial.
How Does Edfinancial Handle Student Loans?
It is impossible for the Department of Education to service every federal loan on an individual basis. They need to work with companies like Edfinancial to keep the business running and providing customer service. So once your federal student loan is disbursed, it can be assigned to Edfinancial to service.
Borrowers do not choose their loan servicer — rather, it is a product of the federal selection process. If Edfinancial holds your loans, you’ll get notifications from them telling you what to do next.
How to Register for Edfinancial Account
The first step to identifying or managing your loans with Edfinancial is to create an account on Edfinancial’s website. Here’s a step-by-step guide:
- Go to https://www.edfinancial.com
- Select “Sign In” in the top right corner.
- Choose “Create Account.”
- Submit your personal information, including your SSN, date of birth, email and loan details.
- Register your username and password.
Once your account is activated, you’ll be able to see your loan balances and payment history, as well as any upcoming due dates.
What are the payment options with Edfinancial?
Scheduled Repayments The borrower has multiple options to repay their loans using Edfinancial. These include:
Auto-Debit
Set up automatic payments directly from your bank account. It helps ensure timely payments, and you may even qualify for a 0.25% interest rate reduction.
Online Payments
Through their website, you can make one-time or scheduled payments using a checking or savings account.
Mail-in Payments
Draft a check or money order to their payment processing address. Also make sure to include your loan account number.
Phone Payments
3) Phone payments — Call their customer service to pay over the phone.
Edfinancial Repayment Plans
Choosing a repayment plan that matches your budget is critically important because that debt must get eventually paid off. Edfinancial offers multiple federal repayment plans, such as:
- Standard Repayment Plan Fixed payments for 10 years.
- Graduated Repayment Plan – Payments begin at a lower amount and increase every two years.
- Extended Repayment Plan — Up to 25 years to repay with reduced monthly payments.
- Income-Driven Repayment (IDR) Plans – Payments that depend on income and family size.
To apply for a repayment plan, log into your account or contact Edfinancial directly.
Edfinancial and Loan Forgiveness Programs
Edfinancial helps borrowers qualify for student loan forgiveness through federal programs such as:
- Public Service Loan Forgiveness (PSLF)
- Teacher Loan Forgiveness
- Forgiveness Under Income-Driven Repayment
If you work for a government or non-profit employer you may qualify for PSLF after 120 qualifying payments. It can walk you through the application and recertification process.
There are deferment and forbearance options
If you have financial hardship, It can assist with lowering or freezing your loan payment:
- Deferment – Storage payments for a specific period if unemployed, in active military service or returning to school.
- Forbearance — A temporary hold on payments due to a borrower’s financial distress.
Both options come with eligibility requirements and accrue interest, so you want to talk about them with an their representative before applying to pursue these options.
Edfinancial Customer Service
It has an excellent customer support system as one of its strengths. You can reach out via:
- Phone: 1-855-337-6884 (Monday to Friday, 8 a.m. – 8 p.m. ET)
- Chat: From your account dashboard
- Email: Via their secure message portal
- Mail: P.O. Box numbers can be found on their Contact Us page
If you get any fraudulent messages that say they are from “Edu Financial” this should read “Edfinancial”; check the email address or URL of the sender.
Frequently Asked Questions: Edfinancial (aka “Edu Financial”)
Is Edu Financial legit?
Yes, but the proper name is Edfinancial, not “Edu Financial.” It is an official federal student loan servicer.
Is it possible to transfer from Edfinancial to a different servicer?
Typically, you cannot ask for a change. But the Department of Education may transfer your loan.
How can I tell if my loans are handled by Edfinancial?
Log into studentaid. gov, and check your loan servicer details. If they are, establish an account with Edfinancial where your loans will be managed.
What will happen if I miss a payment?
Late payments can accrue fees or become delinquent, or even go into default. Call them immediately to find solutions.
How to Protect Yourself from Student Loan Scams
Scammers sadly have taken advantage of frequent confusion between “Edu Financial” and “Edfinancial.” Always verify:
- That the message comes from @edfinancial. com
- It starts with https://www.edfinancial.com
- Official channels only for any payment requests and document uploads
If something looks fishy, call their verified support number before doing anything.
Final Thoughts
While some borrowers search for “Edu Financial” in error, the company’s name is actually these Services and is an established federal student loan servicer. Regardless of whether you’ve just begun repayment or are having difficulty managing your loans, It offers a set of tools, support system and expert guidance to keep you on track.
Keeping your account in good standing with on-time payments, staying inform
ed of any changes that may affect you, and seeking assistance when necessary are three ways to help open the doors to financial independence. If your loans are held by these, make sure to exactly use their resources—and don’t let the name confusion stop you from doing it.
