Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Student Loans EdFinancial Student Loan Servicing: What Borrowers Need to Know in 2025 Updated Apr 17, 2025 5-min read Written by Jeff Gitlen, CEPF® Written by Jeff Gitlen, CEPF® Expertise: Student loans, personal loans, home loans, insurance, credit cards Jeff Gitlen, CEPF®, is the director of growth at LendEDU. He graduated from the Alfred Lerner College of Business and Economics at the University of Delaware. Learn more about Jeff Gitlen, CEPF® If you’re seeing EdFinancial Services listed on your student loan account, you’re not alone. EdFinancial is a student loan servicer that manages federal and private loans on behalf of lenders. Whether you’re just getting assigned to EdFinancial or you’ve been with it for years, understanding how it works—and what your rights are as a borrower—is essential. In this guide, we’ll cover how EdFinancial handles loans, your repayment options, what to do if problems arise, and key tips for managing your loans effectively. Table of Contents What is EdFinancial Services? What types of loans does EdFinancial service? What repayment options does EdFinancial offer? What does EdFinancial do well? What problems do borrowers report with EdFinancial? How can you contact EdFinancial customer service? Can you change your student loan servicer? What is EdFinancial Services? EdFinancial Services is a student loan servicer based in Knoxville, Tennessee. Founded in 1987, the company originally focused on private loans but has since shifted its primary business to managing federal student loans. Today, EdFinancial is one of several companies contracted by the U.S. Department of Education to service federal Direct Loans and Federal Family Education Loans (FFEL). It also services a smaller number of private student loans for partner lenders. If EdFinancial is your loan servicer, you’ll work with it—not your original lender—when it comes to repayment, customer service, and account management. What types of loans does EdFinancial service? EdFinancial manages a range of federal and private student loans.Types of loans it services include: Federal Direct Subsidized and Unsubsidized Loans Direct PLUS Loans (for parents and graduate students) Direct Consolidation Loans Federal Family Education Loans (FFEL) (older loans issued before 2010) Private student loans for select banks and lenders Tip If you’re unsure whether you have a federal or private loan, log in to StudentAid.gov with your FSA ID. Private loans won’t appear there—they’ll show up on your credit report instead. What repayment options does EdFinancial offer? If you have federal student loans, EdFinancial is required to offer the repayment plans set by the Department of Education. Common options include: Standard repayment plan: Fixed monthly payments for up to 10 years. Graduated repayment plan: Payments start lower and increase every two years. Income-Driven Repayment (IDR) plans: Monthly payments based on your income and family size. They include Income-Based Repayment (IBR), and Revised Pay As You Earn (REPAYE) (which was rebranded as the SAVE plan, but SAVE is now unavailable due to court challenges). Extended repayment plans: Available if you have over $30,000 in federal student loans. If you have private student loans serviced by EdFinancial, your repayment options depend on the original lender’s terms. Private loan borrowers often have fewer flexible repayment options. Heads-up: To explore deferment, forbearance, forgiveness programs (like Public Service Loan Forgiveness), or payment recalculations, you must contact EdFinancial directly. What does EdFinancial do well? Borrowers report a few strengths when working with EdFinancial: Helpful online tools: EdFinancial’s website offers calculators, document upload portals, and easy-to-navigate repayment plan information. Dedicated military resources: The servicer provides a special support page and hotline for military members seeking repayment relief under programs like the SCRA or Public Service Loan Forgiveness (PSLF). Clear explanations of federal programs: While the information isn’t unique to EdFinancial, its resource center organizes complex topics like deferment and IDR eligibility fairly well. What problems do borrowers report with EdFinancial? Despite its strengths, EdFinancial has faced a notable number of complaints, particularly with: Credit reporting issues: Borrowers have reported inaccurate reporting to credit bureaus, which can damage credit scores even when loans are in good standing. Customer service delays: Borrowers sometimes experience slow response times, difficulty getting clear answers, and limited follow-up on issues. Private loan confusion: There’s limited online information for private loan borrowers. You may need to call customer service directly to understand your repayment terms if you have a private loan. Example: The Consumer Financial Protection Bureau (CFPB) and Better Business Bureau (BBB) both list complaints about miscommunication around loan statuses, deferments, and credit reporting errors. Our analysis of EdFinancial customer feedback We tried to determine the best student loan servicer by looking into customer complaints and other information. We found that EdFinancial rates third out of five, noting: Data from the CFPB paints a clear picture. It’s almost a one-to-one ratio between its share of accounts and the share of complaints. That essentially means everyone who has a loan serviced by EdFinancial is dissatisfied with the service. Timothy Moore , CFEI® (Aidvantage was the servicer with the fewest complaints.) How can you contact EdFinancial customer service? Website: www.edfinancial.com Phone: 1-855-337-6884 (federal loan borrowers) Military service support: [email protected] General support email: [email protected] EdFinancial’s customer service hours are generally Monday through Friday, 8 a.m. to 8 p.m. Eastern time. Can you change your student loan servicer? Not usually. If you have federal loans, the Department of Education assigns your servicer. You can only change servicers if you: Consolidate your loans into a Direct Consolidation Loan and select a different servicer. Refinance with a private lender (which converts your federal loan into a private loan, causing loss of federal protections). Refinancing might lower your rate—but you’ll lose benefits like income-driven repayment plans, forgiveness options, and federal deferment and forbearance protections. Always weigh the pros and cons or refinancing carefully. If you’re considering refinancing, check out our guide to the best student loan refinance lenders for current top picks. You can also use a marketplace—Credible is our favorite—to compare real prequalified refinance rates from multiple lenders at once—without affecting your credit score. It’s a fast way to see whether refinancing makes financial sense for you. Bottom line: How to manage loans with EdFinancial If EdFinancial is your servicer, stay proactive: Check your account regularly for errors or important updates. Keep documentation of payments and communication. Know your repayment options and ask questions if something is unclear. Monitor your credit report to catch and dispute errors quickly. And if you’re unhappy with your service or repayment terms, consolidating or refinancing might offer other options—just be sure you understand the trade-offs first.