Have questions? We're here to help. Give us a call at (914) 775-8299 Mon-Fri, 8 am-7 pm EST

Get your students the funding they need

No-cosigner student loans with income-based repayment

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Loan Processing

Customer Service

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FAQs

Loan Processing

Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC.

Certification methods

  • ELMOne
  • Great Lakes ScholarNet
  • Fax

Disbursement methods

  • ELMOne
  • Great Lakes CDS
  • Individual paper check

For additional information or to confirm your processing setup, please contact us at (914) 775-8299. Our team is available 8:00am - 7:00pm ET, Monday - Friday.

Setup information

Loan Name and Lender

Edly Income-Based Loans, originated by FinWise Bank

Lender ID

558754

Loan Program Code

92E

Guarantor Name

1Logos

Guarantor ID

1LG

Return ID

1LG

Liason

Jose Guerrero (OneLogos)

Support Phone

1-800-897-5918

Support Email

studentloans@onelogos.com

Certification requirements

Required Enrollment Level

There is a half-time enrollment requirement.

Status Level

Available to undergraduate juniors and seniors, graduate students, or students who are within two years of graduation for specific programs

SAP Requirement

Yes. Students must at least meet your school’s SAP guidelines to be eligible for an Edly student loan.

Loan Limits

$5,000 - $15,000 per academic year. $10,000 additional for Summer terms. $25,000 lifetime limit. If a student does not have at least $5,000 in qualifying academic expenses, the minimum that schools may certify is $2,000.

Application Expiration

30 days

Degree Seeking Requirement

Yes

Past-debt loans

Yes, Edly student loans may be applied to past semesters and past due balances, but only if the student has not graduated or withdrawn from the university. The school may decide to allocate funds to past semesters at their discretion if the student has not graduated or withdrawn.

Customer Service

Our team is available to answer questions you or your students may have. If you’re a student, please use our contact page or email students@edly.info.

Email

students@edly.info.
Response time: 1-2
business days

Phone

+1 (914) 775-8299
8:00am - 7:00pm ET
Monday - Friday

Mailing address

Edly Inc.
555 Pleasantville Rd, STE N202
Briarcliff Manor, NY 10510

Live chat

8:00am - 7:00pm ET
Monday - Friday

Program Details

General Information

Label Here

Edly Income-Based Repayment Loan

Servicer Name

Firstmark Services, a subsidiary of Nelnet

Product Type

Certified Private Loan

Index Type

Custom

Index Rate

0%

Disbursement to

School

Number of Disbursements

1

Available Loan Amount

$5,000 - $15,000 per academic year. $10,000 additional for Summer terms. $25,000 lifetime limit.

Financials

APR Range

0.25% to 23%

Repayment Rate

0.00%

Repayment Margin

0.00%

Deferment Rate

0.00%

Deferment Margin

0%

Origination Fee

0.00%

Repayment Terms

Repayment Type

Deferred while in school

Repayment Length

5 years

Grace Period

4 months

Cosigner Release

No cosigner required

On-time Payments

Within 5 days of due date. Late fees assessed after 5 days.

Past Due Balances Applied

Yes

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For schools

Frequently Asked Questions