Dear Students and Parents,
For more than 22 years, Edamerica has helped you pay for college at over 2,500 schools nationwide. We believe that you have a right to choose your lender and to reap the benefits of a competitive marketplace. However, due to the recent enactment of the Health Care and Education Reconciliation Act of 2010, you will not be able to use Edamerica as the lender for your Federal Stafford, PLUS and/or GradPLUS Loans for the upcoming 2010-2011 academic year.
Edamerica will continue to provide funding for summer term only loans (Stafford, PLUS and GradPLUS) as long as they meet the following criteria:
- Applications must be signed and received by June 24, 2010
- First disbursement must occur prior to July 1, 2010
- Fully disbursed by September 15, 2010
Your college or university will process your new 2010-2011 loans through the U.S. Department of Education’s Federal Direct Loan Program. Information and directions should be forthcoming from your school.
Please note that Edfinancial will continue to service your prior loans unless otherwise notified. You may also use Edamerica for private loans, if available at your college or university.
Thank you for allowing us to be your student loan provider of choice. It has been our pleasure to serve you. We wish you the best of luck in your educational endeavors.
Sincerely,
Edamerica