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EdFed offers borrower benefits with real savings which makes education more affordable. Based on its method of processing, the school chooses the benefit program. Your school will let you know about the borrower benefit program it offers.

Borrower Benefit Programs

The program developed by us offers the following benefits:
  • 3.0% principal reduction 1 after full disbursement for PLUS Loan borrowers.
  • 25% interest rate reduction for PLUS Loan borrowers, if they sign up for auto-debit of their loan payments.
We have partnered with the Missouri Higher Education Loan Authority (MOHELA) 2 to offer the following benefit:
  • By choosing automatic debit of loan payments you get 2% reduction on interest rate.
We have partnered with national lender Sallie Mae 3 to offer the following benefit:
  • By choosing automatic debit of loan payments, you a reduction of 25% on your interest rate.

If you have any questions about PLUS Loans, please email us or call (800) 821-5659 to talk to an expert loan advisor.

1. For complete details of our EdFed Rewards Program please visit

2. MOHELA reserves the right to modify, expand, or discontinue these programs at any time without notice. Rates are reviewed annually on July 1. Rate Relief and Public Service Benefits are offered exclusively by MOHELA Lender-Partners and are available to all borrowers in repayment whose loans are owned by MOHELA and serviced at the Chesterfield, MO servicing center. These benefits are not applicable to loans placed in consolidation. This benefit does not lower the monthly payment, but reduces the interest rate and results in more dollars being applied to the principal of the loan. MOHELA reserves the right to discontinue offering Rate Relief benefits to any borrower whose account experiences two denied auto-debits, or in the event an auto-debit is terminated for any reason. Loans guaranteed by guarantors other than the Missouri State Guarantee Agency may qualify for a reduced level of Rate Relief. Program start date is July 1, 2003.

3. Sallie Mae Cash Back is available on Stafford loans first disbursed between July 1, 2002 and June 30, 2005 that are made with a Sallie Mae lender partner. Sallie Mae must own and service these loans throughout repayment. Participation in Automatic Debit is not required to receive the Sallie Mae Cash Back savings, but it is encouraged since it can help you make timely payments. Stafford loans first disbursed between January 1, 1993 and June 30, 2002 continue to be eligible to receive the Great Rewards¨ and Automatic Debit program benefits on those loans. Loans eligible for the Direct Repay automatic debit interest rate reduction must be owned and serviced by Sallie Mae or owned by Sallie Mae and serviced by a participating servicer. Your monthly payment amount remains the same and you save money by repaying loans more quickly because the loan balance may be paid off faster. The Direct Repay automatic debit 0.25 percentage point interest-rate reduction is available on PLUS loans first disbursed through June 30, 2005.

How EdFed Helped others!
Thanks for all your help during the entire consolidation process. It was great only dealing with one person!
- Matt B.  Los Angeles, CA
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Student Loan Consolidation Info - How to Choose the Right Loan Company

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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

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Until you receive your EdFed consolidation loan, it's important that you continue making your monthly payments to your original lenders while we process your application.
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EdFed is a FFELP lender with lender identification number 834241.
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