A bidirectionally coupled magnetoelastic model (BCMEM) has been extended to include electric currents in its magnetic finite element formulation. This enables the model to capture the magnetoelastic behavior of magnetostrictive materials subjected to elastic stresses and magnetic fields applied not only by permanent magnets but also by current carrying coils used often in transducer applications. This model was implemented by combining finite element solutions of mechanical and magnetic boundary value problems using COMSOL Multiphysics 3.4 (Finite Element Modeling software) with an energy-based non-linear magnetomechanical constitutive model. The BCMEM was used to simulate actuator load lines and four point bending results for Galfenol, which were then compared to experimental data. The model also captured the ΔE effect in Galfenol. The BCMEM can be used to study and optimize the design of future current driven magnetostrictive devices.