Edfinancial Careers
Edfinancial Services is an independently owned, Knoxville-based federal student loan servicer contracted by the U.S. Department of Education, managing repayment and account services for over 5.5 million borrowers via a 1,400+ employee operation, with adjacent Edamerica (higher-ed B2B) and Medfinancial (healthcare payments) sub-brands.
- Company typePrivate
- Founded1987
- HeadquartersKnoxville, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Edfinancial Careers does
Edfinancial Services LLC, operating through its "Edfinancial Careers" employer brand, is a privately held federal student loan servicer headquartered in Knoxville, Tennessee. Founded in 1987, the company services over 5.5 million federal student loan borrowers under contract with the U.S. Department of Education, answering borrower inquiries, managing repayment plans, processing payments, and operating default-prevention workflows through call center and processing operations staffed by 1,400+ employees. The company is consistently ranked in the top three of the federal student loan servicing industry and has operated continuously for 38 years.
The company operates three product lines. The core federal servicing platform is supported by a proprietary servicing system with configurable default-prevention options and school-branded communications. The Edamerica subsidiary (formerly Higher Education Solutions, rebranded in 2024) provides B2B contact-center, retention, and default-prevention services to colleges and universities. Medfinancial is a patient payment program that partners with medical providers to offer installment financing for self-pay medical expenses. The company also maintains a careers portal (ed.careers) and conducts recurring Pathways Job Fairs for multi-department hiring.
Revenue derives primarily from managed-services contracts with the U.S. Department of Education for federal loan servicing. Edamerica generates subscription/recurring revenue from college partnerships, and Medfinancial generates transaction-fee revenue from healthcare provider partnerships. The company holds positions on the Department of Education's Negotiated Rulemaking Committee and the boards of NCHER and SLSA, institutionalizing influence over federal student loan policy and industry standards. Edfinancial is independently owned with no disclosed parent, public listing, or external funding.
Edfinancial Careers firmographics
Firmographics- Name
- Edfinancial Careers
- Legal name
- Edfinancial Services LLC
- Website
- https://ed.careers
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Edfinancial Services is an independently owned, Knoxville-based federal student loan servicer contracted by the U.S. Department of Education, managing repayment and account services for over 5.5 million borrowers via a 1,400+ employee operation, with adjacent Edamerica (higher-ed B2B) and Medfinancial (healthcare payments) sub-brands.
- Ownership category
- akta.pro rank
Edfinancial Careers industry classification
Industry- Product category
- Student Loan Servicing
- NAICS
- Educational Services (611), All Other Schools and Instruction (61169)
- SIC
- Services-Educational Services (8200)
- akta.pro primary industry
- Student Loan Programs & Servicers (Public/Nonprofit) (EDADAHAE)
- akta.pro secondary industries
- Contact Center & Helpdesk Services (Student/Parent/Alumni Support) (EDAEALAD), Financial Aid Administration & Packaging (EDALAJAA)
Keywords
Where Edfinancial Careers is headquartered
LocationHeadquarters
- HQ city
- Knoxville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Edfinancial Careers business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Federal Student Loan Servicing: As a federal student loan servicer contracted by the U.S. Department of Education, Edfinancial Services answers borrower questions, helps with repayment plans, and processes student loan payments. Revenue is derived from government contracts for loan servicing operations.
- Edamerica - College Services: Colleges and universities partner with Edamerica to improve customer service, increase retention rates, reduce regulatory burdens and prevent student loan defaults. Services include financial aid process support and default prevention.
- Medfinancial - Patient Payment Programs: Medfinancial partners with medical providers to offer patient payment programs, allowing patients to fund medical necessities with convenient repayment options. Providers benefit from improved cash flow.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Entry-level positions starting compensation |
| Other | Pay-as-you-go | Internship compensation |
| Subscription | Pay-as-you-go | 401(k) Retirement Savings Plan |
| Other | Annual | Tuition Reimbursement |
| Other | Pay-as-you-go | Short Term Disability |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels9 records
Edfinancial Careers product offering
Product offeringCore offering
Edfinancial Services is a federal student loan servicer contracted by the U.S. Department of Education, answering borrower questions, helping with repayment plans, and processing student loan payments for over 5.5 million customers. Through its Edamerica subsidiary, the company partners with colleges and universities to provide contact center support, financial aid process assistance, and customizable default prevention. Through its Medfinancial subsidiary, the company partners with medical providers to offer patient payment programs for self-pay medical expenses.
Product overview
Edfinancial Services operates as a multi-segment financial services company with three distinct product lines: (1) Edfinancial Services — the core federal student loan servicing platform serving over 5.5 million borrowers nationwide, handling customer inquiries, repayment plan management, and payment processing; (2) Edamerica — a higher education support subsidiary (formerly Higher Education Solutions) providing colleges and universities with customer service, retention, default prevention, and regulatory compliance services; and (3) Medfinancial — a patient payment program brand partnering with medical providers. The company also maintains a careers recruitment portal (Edfinancial Careers) to attract talent across these business lines.
Differentiator
Problem solved
Functional benefit
Brands
- Edamerica: Partners with colleges and universities to improve customer service, increase retention rates, reduce regulatory burdens, and prevent student loan defaults. Provides college contact center services, financial aid professional support, and customizable default prevention options.
- Medfinancial
Products and services
- Edfinancial Services Federal Student Loan Servicing Federal student loan servicing platform contracted by the U.S. Department of Education that answers borrower questions, helps with repayment plans, and processes student loan payments for over 5.5 million customers nationwide.
- Edamerica Higher Education Support Services Higher education support services for colleges and universities, including a College Contact Center with school-branded messaging, financial aid process support, customer service improvement, retention rate enhancement, regulatory burden reduction, and customizable default prevention options.
- Medfinancial Patient Payment Programs Patient payment programs partnering with medical providers to allow patients to fund medical necessities and emergencies with convenient repayment options, while improving provider cash flow.
Quantifiable outcome
- Servicing over 6.6 million customer accounts
- +2 more outcomes
Companies that use Edfinancial Careers
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles4 records
Edfinancial Careers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Edfinancial Careers partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Edamerica (formerly Higher Education Solutions)coreEdamerica is a subsidiary business unit of Edfinancial Services that partners with colleges and universities to improve customer service, increase retention rates, reduce regulatory burdens and prevent student loan defaults. Services include financial aid process support, school-branded messaging, and customizable default prevention options.
- MedfinancialcoreMedfinancial partners with medical providers to offer patient payment programs allowing patients to fund medical necessities and emergencies with convenient repayment options. Providers benefit from improved cash flow and reduced costs of managing self-pay medical expenses.
- U.S. Department of EducationcoreEdfinancial Services is a servicer of federal student loans contracted by the U.S. Department of Education. The company actively participates in the Department's Negotiated Rulemaking Committee and has leadership involvement in shaping student loan policy.
- National Council of Higher Education Resources (NCHER)coreEdfinancial Services participates on the NCHER board of directors and contributes to Program Regulations, Electronic Standards, and Debt Management committees, providing industry influence and policy input.
- Student Loan Servicing Alliance (SLSA)coreEdfinancial Services participates on the SLSA board of directors, contributing to industry standards and best practices in student loan servicing.
- BlueCross BlueShield of TNminorProvides health insurance to eligible Edfinancial employees as part of the employee benefits package.
- Delta DentalminorProvides dental insurance to eligible Edfinancial employees as part of the employee benefits package.
- Superior VisionminorProvides vision insurance to eligible Edfinancial employees as part of the employee benefits package.
- Lincoln FinancialminorProvides long term disability income benefits program for Edfinancial employees. Benefits begin after short term disability ends and/or after ninety days of disability or illness.
- Fort Sander's Health and FitnessminorHealth club facility where all regular full-time Edfinancial employees are eligible to participate in activities at a discounted rate.
- Udemy for BusinessminorFull access to Udemy for Business is provided to employees as part of the Learning & Development benefits for training and skill development.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Edfinancial Careers competitors and assessment
Company assessmentDirect peers
- Granite State Management & Resources: Granite State is a nonprofit federal student loan servicer under DOE contract, comparable in structure and scope to Edfinancial's servicing operation.
- Nelnet: Nelnet is one of the largest federal student loan servicers under contract with the U.S. Department of Education and also services private loans — directly comparable to Edfinancial's core federal contract and Edamerica-adjacent higher education support capabilities.
- ECMC Group: ECMC is a nonprofit organization that services federal student loans and runs college-success and student-loan-default-prevention programs, directly comparable to Edfinancial's Edamerica subsidiary.
- Conduent Education Services (formerly Xerox Education Services): Conduent inherited the former Xerox federal student loan servicing business and operates a comparable outsourced BPO-style federal loan servicing platform for the DOE.
- MOHELA (Missouri Higher Education Loan Authority): MOHELA is a nonprofit, state-based federal student loan servicer operating under the same DOE Next Generation Servicing contract framework as Edfinancial, with a comparable borrower-services call-center model.
- CornerStone Education Loan Services: CornerStone is a nonprofit federal student loan servicer under DOE contract, similar in scale profile and mission orientation to Edfinancial Services.
- Navient Solutions: Navient is a major federal and private student loan servicer with overlapping call-center and borrower-repayment capabilities, and is the parent of Earnest, mirroring Edfinancial's positioning across federal servicing and adjacent consumer finance.
- Maximus (formerly FedLoan Servicing / PHEAA): Maximus acquired the federal student loan servicing operations formerly run as FedLoan Servicing by PHEAA, making it a direct federal servicer peer competing for the same DOE contract pool.
Broad incumbents
- SoFi: SoFi is a broad consumer-finance incumbent with a large private student loan refinancing and origination book, overlapping with Edfinancial's borrower base and with Medfinancial's consumer payment-program positioning.
Regional players
- Higher Education Servicing Corporation (HESC): HESC is a New York state-affiliated federal and state student loan servicer; comparable in service lines (federal servicing, institutional support) but with a regional/state charter scope distinct from Edfinancial's national DOE contract.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Edfinancial Careers social profiles
Digital presenceEdfinancial Careers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Edfinancial Careers leadership team
Management profileNumber of profiles
Edfinancial Careers subsidiaries and ownership
Company hierarchySubsidiaries2 records
Edfinancial Careers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Edfinancial Careers M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Edfinancial Careers
What does Edfinancial Careers do?
Edfinancial Services is a federal student loan servicer contracted by the U.S. Department of Education, answering borrower questions, helping with repayment plans, and processing student loan payments for over 5.5 million customers. Through its Edamerica subsidiary, the company partners with colleges and universities to provide contact center support, financial aid process assistance, and customizable default prevention. Through its Medfinancial subsidiary, the company partners with medical providers to offer patient payment programs for self-pay medical expenses.
Is Edfinancial Careers a public or private company?
Edfinancial Careers is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Edfinancial Careers founded?
Edfinancial Careers was founded in 1987. It employs 501 to 1,000 people.
Where is Edfinancial Careers based?
Edfinancial Careers is headquartered in Knoxville, United States, in the North America region.
How does Edfinancial Careers make money?
Three revenue lines are on record. Federal Student Loan Servicing is the primary driver. The others are edamerica - College Services and medfinancial - Patient Payment Programs.
Who are Edfinancial Careers's main competitors?
Direct peers on record are Granite State Management & Resources, Nelnet, ECMC Group, Conduent Education Services (formerly Xerox Education Services), MOHELA (Missouri Higher Education Loan Authority), CornerStone Education Loan Services, Navient Solutions and Maximus (formerly FedLoan Servicing / PHEAA). SoFi is listed as a broad incumbent. Higher Education Servicing Corporation (HESC) is listed as a regional player.
Does Edfinancial Careers have an API?
No public API is recorded for Edfinancial Careers.
What industry is Edfinancial Careers in?
Edfinancial Careers's product category is Student Loan Servicing. Its primary akta.pro industry code is EDADAHAE, Student Loan Programs & Servicers (Public/Nonprofit), with a secondary code of EDAEALAD, Contact Center & Helpdesk Services (Student/Parent/Alumni Support). Its NAICS code is 611 and its SIC code is 8200.