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Repaying Your Student Loans

How much do I owe?

The National Student Data System (NSLDS) records your Federal student loan history, including disbursement amounts and dates, and your assigned loan servicers. Your total loan debt includes all outstanding loan principal and interest, plus any additional service fees charged by your servicer. This data should be checked, as you would all credit history, for updates and errors.

Since some student loans accrue interest while in school, during grace periods, and while in deferment or forbearance and repayment, the total debt may increase with time.

When do I begin repayment?
Federal Direct Subsidized and Unsubsidized loans have a six-month grace period. During the grace period, you do not need to make any payments on your loans. Your grace period begins once you drop below half-time enrollment; this includes graduating or withdrawing from the university.

Please remember: there is no penalty for repaying your student loan early. 
How much will my monthly payment be?

Many factors influence the monthly payment amount, total payout and length of repayment including:

  • Amount borrowed
  • Origination or other fees
  • Interest rate
  • Type of repayment plan

Monthly payments can be estimated using the Federal Student Aid Repayment Estimator. Several different options exist for repayment plans to suit a variety of financial situations. For details on repayment plans available, please visit StudentAid.gov.

Who do I pay?

Your loan will be held by an organization called a servicer; this is who you will send your monthly payments to. You may find out who your servicer is by visiting the National Student Data System. You should be notified by each servicer of all repayment information.

Repayment terms will differ between Alternative Loans. However, many Alternative Loan lenders offer incentives for timely repayment, options for repayment plans, and deferment or forbearance. It is important to take note of your repayment terms, options, and obligations in the promissory note signed for your loan.

Alternative Loans are not reflected in the National Student Loans Data System. For assistance on repayment, please contact the servicer for each alternative loan. Or, if you require assistance in determining who you owe, contact Scholarships & Financial Aid to meet with an Advisor.

The Texas B-On-Time Loan may be forgiven if certain requirements are met. If your loan is not forgiven, it is repaid to the Texas Higher Education Coordinating Board.

The Texas B-On-Time (BOT) Loan has a 6-month grace period from the date the student ceases to be enrolled at least half-time at an eligible institution. Repayment begins after the expiration of the 6-month grace period. The BOT loan has a 15-year repayment period or a minimum monthly payment of $75.00. BOT loans have a 0% interest rate.

Deferments for education enrollment or forbearance (financial hardship) are available. If the account defaults and a judgment is entered against the borrower, interest will begin to accrue at the legal rate described in the Terms and Notices from the date of judgment until the entire debt is paid in full.

Forgiven Texas B-On-Time loans must be reported to the IRS as taxable income in the applicable tax year the loan is deemed to be forgiven.

The College Access Loan is repaid to the Texas Higher Education Coordinating Board.

  • Loans have a six-month grace period from the date a borrower ceases to be continuously enrolled as at least a half-time student at an eligible institution;
  • Principal balances under $30,000 have up to a ten-year repayment period with minimum monthly payments of $50;
  • Principal balances of $30,000 or more have a repayment period up to 20 years;
  • The loan will not be sold to another lender;
  • Postponements of loan repayment and income-sensitive or graduated repayment schedules are available.

Federal Perkins Loans are repaid to Texas A&M University through the servicer ECSI. You may view your Perkins Loan balance and make payments by clicking on the Borrower/Student Login link.

Perkins Loans received at all institutions are reflected in the National Student Loan Data System.

Repayment begins and interest will begin to accrue nine months after ceasing to be enrolled on at least a half-time basis.

Contact ECSI for information on Forgiveness, Cancellation, and Discharge options.

ECSI
100 Global View Drive
Warrendale, PA 15086
1-888-549-3274
www.ecsi.net/
(Texas A&M University’s ECSI School Code is RM)

Health Professions Student Loans and Loans for Disadvantaged Students are repaid to Texas A&M University through the servicer ECSI. You may view your loan balance, make payments, and learn about repayment options by clicking on the Borrower/Student Login link.

These loans must be repaid with interest within a prescribed repayment period ranging from one to twelve months. If the loan is not paid in full by the due date, both transcripts and registration will be blocked until the account is paid in full. Past due loans are subject to collection fees, attorney fees, higher interest rates, as well as negative credit reports to national credit bureaus. Information on where to repay your loan will be included on your promissory note.

If you have direct deposit (ACH) set up before applying for a Short-Term Loan it will take 3-5 business days from the end of the Right to Cancel period for your money to be deposited to your bank account. You may authorize direct deposit of Short-Term Loan funds and financial aid refunds through the Howdy Portal at howdy.tamu.edu, click on the My Finances tab. You may contact Student Business Services via telephone at 979-847-3337 for questions about short-term loan repayment.

Repayment terms are contingent upon the semester in which the loan is requested. All payments will be due on the 15th day of the month.

  • Fall/Spring loans are due approximately 90 days after the loan is applied to your student billing account.
  • Summer loans are due approximately 30 days after the loan is applied to your student billing account.
If the loan is not paid in full by the due date, both transcripts and registration will be blocked until the account balance is paid in full. You may contact Student Business Services via phone at 979-847-3337 for questions about your Emergency Tuition and Fee Loan repayment.