Who is the CEO of Edfinancial?
Tony Hollin
How many IDR's does Edfinancial offer?
1. ICR
2. IBR
3. PAYE
4. SAVE
The Standard Level plan is usually a ___ year term based plan.
10 year
What is the resolution hierarchy?
1. IDR
2. Term based plan
3. Deferments
4.Forbearances
5. THF
Do term based plans have built in forgiveness options?
No
Edfinancial is...
A Federal student loan servicer on behalf of the Department of Education
True or False:
Parent PLUS loans qualify for all IDR plans
False
How many term based plans does Edfinancial offer?
1. Standard
2.Extended
3. Graduated
4. Extended Graduated
True of False:
If a brw works for the VA (Verterans Affair), and asking what their options were, you will get them transferred to the military line for further assistance.
False; The VA is not considered as part of the military.
True or False?
Forgiveness payment counts are accessible in cares.
False, there is currently no way to access forgiveness payment counts in cares.
True or False:
Edfinancial currently services Federally and Commercially owned loans
True. Even though we are moving away from all commercially owned loans, there are still some acct that have commercially owned loans.
True or False:
You can verbally submit for borrowers to be put into an IDR over the phone
False; we are no longer submitting verbally
True or False:
Interest Rates stay the same
True
What is required to be discussed if a brw has FFEL loans?
Go over PSLF script, consolidation, and IDR and send the associated quickmailers
A disabled veteran from the Military with 90% percent VA disablity rating is asking about TPD. Are they eligible?
No. To qualify for TPD, borrowers MUST be 100% totaled and permanently disabled.
Who is the COO of Edfinancial?
John Farinella
SAVE plan monthly payment amount is based on ___% of discretionary income.
A. 15%
B. 10%
C. 20%
D.12%
B. 10%
What is required for Extended plans?
Minimum of $30,000 balance
How can borrowers have the SAVE Forbearance removed once it has been placed on account?
The borrower cannot have this forbearance removed once it is applied to the account. (Training Update 8/27)
What are the most important requirements for borrowers to get PSLF?
1. Must have eligible employer for a total of 120 months
2. Must have 120 qualifying payments
How many office locations does Edfinancial have?
1. Knoxville, TN
2. Montgomery, AL
3. Dayton, TN
4. El Paso, TX
5. Concord, NH
IDR Forgiveness is usually available after ___ to ___ qualifying payments:
A. 250 - 300
B. 260 - 300
C. 220 - 300
D. 240 - 300
D. 240 - 300
Extended plans are usually a ___ year term based plan.
25 year
True or False
Borrowers cannot apply for IDR while Supreme Court hold is placed due to injunction.
False; They can submit paper application, however, it wont get processed until hold is lifted.
Why would you see GJBD BORR OPTED OUT OF BORR DEFENSE notated on a brws account?
If a borrower elects to opt out of borrower defense, account history will be noted with that code.