Electronic Debit Account (EDA)

An Electronic Debit Account (EDA) allows you to pay your monthly loan payment without having to write out a check each month. Your monthly payment is electronically debited from your bank account each month. Having an Electronic Debit Account is the most convenient way to make your student loan payments. You will save time, and you will not have to remember to write a check every month. Additionally the Direct Loan Program offers a quarter point interest rate reduction for borrowers using the EDA repayment method.

If you would like to learn more about EDA, please check the following topic on the FAQ section: