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Important Announcement

Notice for Borrowers on the SAVE plan:  Based upon the timeline for implementation of July 1, 2024 SAVE plan benefits, and the start of annual auto-recertification of IDR plans, some SAVE plan borrowers will likely receive more than one notice from Edfinancial Services about updates to their monthly payment amount and terms of their SAVE plan. For the most up-to-date information regarding your SAVE plan, please log into your Edfinancial account where you can find your correct monthly payment amount and the terms of your plan.

The courts have allowed Federal Student Aid to continue implementing the majority of the provisions of SAVE. Borrowers can continue to enroll in SAVE, other IDR plans, and/or consolidate loans. Check StudentAid.gov for any updates.

Federal Parent PLUS Loans


The Federal Parent PLUS Loan is for parents of dependent students and is based on credit worthiness. Under this loan program, parents may borrow up to the cost of education at a particular institution minus any financial aid a student receives.

Compare Federal Loan Programs

PLUS Loan Repayment


A Parent PLUS Loan is made directly to the dependent student’s school under the parent’s name, not the student, so responsibility for repayment rests with the parent. Repayment begins within 60 days of the final loan disbursement, unless you choose to postpone repayment while the student is in school at least half-time. Typically a Parent PLUS loan is repaid within ten years, but you may be eligible to extend your repayment term up to 25 years depending on your total outstanding balance.

Learn About Parent PLUS Loans

Deferment Options for Parent PLUS Loans


When the benefitting student of the PLUS loan you obtained is enrolled at least half-time at a Title IV school, you can request to have your PLUS loan put on a deferment. The deferment would be applied to place your payments on hold for the duration of the student's enrollment, as long as they continue to be enrolled at least half-time.

As an added benefit, you may also request a six-month post-enrollment deferment after the benefitting student drops below half-time enrollment and/or graduates.*

Give us a call at 855-337-6884 or email freshstart@edfinancial.com to see if you qualify for these deferments and have them applied to your account today!

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