Loan Processing

Customer Service

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Loan Processing

Customer Service

Download Materials


Loan Processing

Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered 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 (888) 4MY-EDLY Ext. 2. Our team is available 8:00am to 7:00pm ET, Monday - Friday.

Setup information

Loan Name and Lender

Edly Income-Based Loans, originated by FinWise Bank

Lender ID


Loan Program Code


Guarantor Name


Guarantor ID


Return ID



Jose Guerrero (OneLogos)

Support Phone

(800) 897-5918

Support Email

Certification requirements

Required Enrollment Level

There is a half-time enrollment requirement.

Status Level

  1. IBR No Cosigner Student Loans are available to undergraduate seniors, graduate students, or students who are within 16 months of graduation for specific programs
  2. IBR Cosigned Student Loan are available to sophomores, juniors, seniors, and graduate students for approved schools

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. The minimum amount schools must certify for is $2,000.

Application Expiration

30 days

Degree Seeking Requirement


Past-debt loans

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IBR student loans may be applied to past semesters and past due balances, but only if the student has not graduated or withdrawn from the university. The school may decide to allocate funds to past semesters at their discretion if the student has not graduated or withdrawn.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

Cancelations and Refunds

Once an application has been canceled (either by the student, the school or by Edly), the application cannot be reinstated. The student will have to reapply if funds are needed. Interest will be charged for cancelations or refund requests received more than 1 month from disbursement date.

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

Response time: 1-2
business days


(888) 4MY-EDLY Ext. 2
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

Product Name

Edly Income-Based Repayment Loan

Servicer Name

Firstmark Services, a subsidiary of Nelnet

Product Type

Certified Private Loan

Index Type


Index Rate


Disbursement to


Number of Disbursements


Available Loan Amount

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


Funding for the Academic Year 2023-2024 will take place no earlier than August 2023


APR Range

9.4% to 23%

Repayment Rate


Repayment Margin


Deferment Rate


Deferment Margin


Origination Fee


Repayment Terms

Repayment Type

Deferred while in school for the No Cosigner product, modest in-school payments for the Cosigned product

Repayment Length

7 years

Grace Period

4 months (IBR No Cosigner Student Loan)

Cosigner Release

Yes (IBR Cosigned Student Loan)

On-time Payments

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

Past Due Balances Applied


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For schools

Frequently Asked Questions