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June 14, 2022 at 7:50 AM. EdFinancial is a federal student loan servicer that works with the U.S. Department of Education to manage and process federal student loans. EdFinancial has been in the ...
However, FedLoan stopped servicing federal student loans after December 2022 and the Department of Education then transferred the loans it was servicing to Nelnet, Edfinancial, Aidvantage or MOHELA.
FedLoan Servicing stopped handling federal student loan accounts on December 14, 2021. After the decision, FedLoan accounts were transferred to MOHELA, Edfinancial, Aidvantage and Nelnet.
EdFinancial Services. EdFinancial Services is a financial company which provides student loans servicing for 15 of the top 100 lenders in the USA, including regional and national banks, secondary markets, state agencies and other student loan providers. It is headquartered in Knoxville, Tennessee .
In the United States, student loans are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses. [ 1] With notable exceptions, student loans must be repaid, in contrast to other forms of financial aid such as scholarships ...
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