Please note that due to heavy traffic www.myedaccount.com is still very slow.
The new web site currently does not provide a payment history. Since Direct Loan Serving is still finalizing the transition, we anticipate that this feature will soon be fully implemented.
“As Student Loan Grace Period Ends, Consider Options to Avoid Default”
by Equal Justice Works
The grace period on your student loans will end on 11/13/11, and if you have not already done so, you need to decide on your strategy and plan to begin the repayment of your student loans. Should you have additional questions regarding Equal Justice Works’ recommended steps, please contact us at lrap@law.berkeley.edu.
Direct Loan Serving update!
Borrowers who scheduled Web payments via the previous borrower website for debit after September 30, 2011 were notified that their previously scheduled Web payments were cancelled due to the transition. Borrowers are responsible for making these payments and have the option to mail their payments to the address below or reschedule the payments via the new borrower website.
Borrowers who choose to mail their payments may do so using the following address:
United States Department of Education
PO Box 530260
Atlanta, GA 30353-0260
Borrowers enrolled in Electronic Debit Account (EDA) have transitioned automatically to Kwikpay. “Kwikpay” is a new term that replaces “EDA.” These borrowers need to take no action. However, Kwikpay borrowers with an October 7, 2011 debit date will notice a slight delay in the drafting of the payment from their bank accounts. We anticipate that these drafts will occur later this week. Despite the drafting delay, the effective date of each borrower’s payment will be October 7, 2011.
The new Direct Loan website: www.myedaccount.com/ is currently extremely slow and at times overloaded.
Therefore you may submit your LRAP web application now and follow up with the federal student loan documentation later via email when you have reliable access to the new Direct Loan website.
Direct Loan’s new website: www.myedaccount.com is now available. We noticed that at this time it only works with the Internet Explorer browser and probably due to high traffic it is rather slow.
The Berkeley Law – LRAP web application works best with the Internet Explorer browser. If you use another browser, you may face difficulty posting the application.
As of this year, the UC Berkeley campus changed the reporting of graduation dates from 5/30 for all students to the actual graduation dates. For Boalt ’11 graduates this year’s graduation date was 5/13/11. Therefore the grace period of your federal student loans will end on 11/13/11.
Your first payment will be due as early as 14 days after the 11/13/11 period but no later than 45 days after your grace period ends on 11/13/11.
Class of 2011 LRAP applicants: please list the month of your first student loan due date as the beginning date for your LRAP application.
Please note that as of this fall the Federal Direct loans are serviced by five servicing centers. Borrowers are assigned to one of five servicers: ACS, Great Lakes, NelNet, PHEAA, or Sallie Mae.
Until 8:00 AM (ET) on Monday, October 10, 2011 the Direct Loan Servicing Online web site will be unavailable during a transitioning process to a new system.
The new address will be www.myedaccount.com
Equal Justice Works offers two webinars for entering students interested in government or public interest work after graduating.
Wednesday, August 10, 1-2 p.m. EST / 10-11 a.m. PST
Wednesday, August 24, 3-4 p.m. EST / 12-1 p.m. PST