Vanderbilt Education Loan Program

Welcome, Vanderbilt University Students and Parents!

In conjunction with First Tennessee Bank, Educational Services of America, Inc. ("Edsouth") is pleased to provide the Vanderbilt Education Loan Program (VELP) as an alternative to traditional sources of funds to finance your education. The Vanderbilt Education Loan Program is a privately funded program designed exclusively for undergraduate students at least 18 years of age. Students and families may use the loan to finance any portion of the current academic year's educational expenses. Students are the primary borrowers with other creditworthy persons signing the credit agreement as co-borrowers.

The Vanderbilt Education Loan Program features low competitive interest rates with NO FEES for creditworthy borrowers...

If you use this web page to apply for a loan, you are applying for a private student loan to attend Vanderbilt University.  If this is not the school you plan to attend, please contact the financial aid office at your school or visit their website for information on how to apply.


Questions? Need Help?
Call Edsouth's servicer, Edfinancial Services at 800.337.6884
or talk to a representative online so we can help you!

The Vanderbilt Education Loan Program is offered in conjunction with Edsouth and First Tennessee Bank National Association, an equal opportunity lender.


Loans for undergraduate students

Undergraduate students must be enrolled or accepted for enrollment on at least a half-time basis at Vanderbilt University. There is no satisfactory academic progress requirement. A co-borrower is required. If you and your co-borrower are U.S. citizens or permanent residents, meet specific credit requirements and have satisfactory credit histories, you may borrow the amount offered on your Vanderbilt Award Letter (minimum loan amount of $500). Employment verification may be required based on the borrower’s or co-borrower's credit score.  This verification will be collected during the application process. Pre-approvals are conditional upon a review of any outstanding accounts you may have, and may be changed at the lender's discretion.


Defer your principal payments

Vanderbilt University will make interest only payments for you while you are continuously enrolled as an undergraduate student. You can also enjoy an automatic deferment of principal beginning on the first disbursement date and ending six months after the date you graduate or cease to be enrolled at least half time at Vanderbilt University.


Low Monthly Payments

Once you graduate or are no longer enrolled at least half time as a Vanderbilt University undergraduate student, your loan will enter a 6 month grace period. You may pay the interest during grace or allow it to accrue and be capitalized (added to principal) at the end of grace. Monthly payments of principal and interest will begin after the grace period. For your convenience, we can combine your billing with your FFELP (federal) loans serviced by Edfinancial Services.

  

 
Apply now online!
or call Edsouth at
800.337.6884 for assistance

VELP Benefits with Edsouth:

  • Low Competitive Interest rates with NO FEES for creditworthy borrowers
  • Instant credit pre-approval
  • Convenient combined billing with your Stafford Loans
  • Exceptional student loan servicing via Edfinancial Services.
  • Online payment and account information
  • 24-hour voice response system at 800.337.6884
  • Helpful representatives available for online chat on Edlive

Steps to apply

Eligibility for Vanderbilt Education Loan Program funds is determined by the Office of Student Financial Aid on the basis of the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service Financial Aid PROFILE form.

  • You can apply with Edsouth's servicer, Edfinancial Services.
  • Edfinancial Services reviews your application and any other information submitted to support your loan request. 
  • Edfinancial Services determines your credit worthiness and verifies your credit information with a credit bureau (online application process includes instant credit pre-approval process). 
  • You are sent approval notification. 
  • Edfinancial Services will mail your application/credit agreement to you for your signature. You may be required to submit a copy of your most recent federal income tax return(s) and a copy of your most recent pay check stub(s) to verify employment and income (see detailed instructions). Mail your application/credit agreement and other documentation to:
        VELP Loan Originations
        C/O Edfinancial Services
        P.O. Box 36014
        Knoxville, TN 37930
  • Your loan will be disbursed to Vanderbilt University and credited to the Student Borrower's account at Vanderbilt. 
  • Loan disclosure information including total loan amount and current interest rate will be sent to you at the time of disbursement. 
  • If you are not satisfied with the terms as disclosed, you may cancel the loan without charge within 7 days.
  • For customer service assistance, call 1-800-337-6884.
Your information is protected by secure sockets, and our site is authenticated with site certificates by Comodo.