Federal, state, and private education loans have different repayment plans and consolidationThe combination of several federal educational loans into one new loan to simplify loan repayment. options. This page provides specific information about your loan program including contact information for your loan servicerA company that handles billing, processes payments, deferment and forbearance requests, and performs other services on behalf of the U.S. Department of Education for your Federal Direct Loans. Your loan is assigned to a loan servicer by the U.S. Department of Education after the first disbursement has been paid out..
Check out the information below to be sure you understand your repayment obligations and options.
Frequently Asked Questions
Federal Student Aid offers resources for borrowers as federal student loan repayment begins:
Get Help with Your Federal, State, and Private Loans
Private Education Loans
Refer to the documentation provided by your lender when you loan was approved for information about repayment terms and borrowerThe borrower is the person legally responsible for repayment of a loan and who has signed the promissory note. benefits.
Consider using CREDIBLE’s free comparison tool to see what student loan refinancing rate you would get from up to 13 lenders without affecting your credit score.
Carefully consider the pros and cons of consolidating federal student loans into a private consolidation loan before electing to consolidateThe combination of several federal educational loans into one new loan to simplify loan repayment., as this can often result in the loss of federal loan benefits.
Contact your private lender for help with repayment questions.
Massachusetts No Interest Loan
Information about Massachusetts No Interest Loan Repayment at ECSI, the Massachusetts No Interest Loan ServicerA company that handles billing, processes payments, deferment and forbearance requests, and performs other services on behalf of the U.S. Department of Education for your Federal Direct Loans. Your loan is assigned to a loan servicer by the U.S. Department of Education after the first disbursement has been paid out. As a “zero percent interest” loan, consolidationThe combination of several federal educational loans into one new loan to simplify loan repayment. of this loan with other education loans is not recommended as it would always result in higher interest charges for the student.
Contact ECSI, the Massachusetts No Interest Loan servicerA company that handles billing, processes payments, deferment and forbearance requests, and performs other services on behalf of the U.S. Department of Education for your Federal Direct Loans. Your loan is assigned to a loan servicer by the U.S. Department of Education after the first disbursement has been paid out. at 888-549-3274 for help with repayment questions.
Not sure what type of loans you have or how much you borrowed?
Contact the Massachusetts No Interest Loan program at 617-391-6070. Contact other state loan programs via the higher education department of your state government.
Private Loans
Contact your private lender via the contact information provided when your loan was approved.
Use the Consumer Financial Protection Bureau’s Student Debt Repayment Assistant to guide you through your federal, state and private loan repayment options.
Use TISLA (The Institute of Student Loan Advisors) for free expert student loan repayment advice and dispute resolution.
