Knoxville student loan servicer adding 500 jobs as payments begin again
With the emergency relief ending, student loans are scheduled to start accruing interest and get back to their repayment status beginning in September.
Student loan servicing company Edfinancial Services is expanding its employee base to prepare for student loan repayment.
The company currently employs 1,000 professionals and is adding employment opportunities with the goal of 500 additional people for their student loan servicing contract with the U.S. Department of Education. Most of those jobs will be located at their Knoxville headquarters. Annual compensation starts at $42,500 for entry-level positions.
Since March 2020, repayment and interest accrual on government-owned student loans has been on pause due to COVID-19 emergency relief, meaning student loan borrowers have not been required to make payments. With the emergency relief ending, student loans are scheduled to start accruing interest and get back to their repayment status beginning in September.
“These borrowers are about to go through a big change with having their student loan bills due again. We can help with that. That’s what we do. We help people find a plan that is affordable for their situation,” said Tony Hollin, CEO of Edfinancial Services.
Company growth at Edfinancial has skyrocketed in the last two years, growing its employee base by more than 200 percent while servicing more than 5.5 million customers.
The federal servicing company is currently seeking applicants in the Knoxville office located in the Cedar Bluff area on N. Seven Oaks Drive. Open positions range from customer service to processing, with both in-office and work-from-home opportunities available.
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