Repaying Your Student Loans

How much do I owe?

On the Manage Loans page of the Federal Student Aid website, you can check 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 accumulate 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. Visit the Manage Loans page on the Federal Student Aid website to find out who your servicer is. You should be notified by each servicer of all repayment information.

What happens if I do not make my payments?

When it comes time to repay your federal student loan(s), if a payment is missed the loan(s) become past due, or delinquent.  If the loan(s) remain delinquent for 90 days or more, your loan servicer will report the delinquency to the three major credit bureaus.  This may affect your ability to sign up for utilities, get a cell phone plan, or get approved to rent an apartment.
 
If the loan(s) remain in delinquency for at least 270 days, they will be considered in default.  Consequences of default include, but are not limited to:
  • Inability to apply for periods of deferment or forbearance
  • Loss of eligibility for additional federal student aid
  • Withholding of tax refunds
  • Wage garnishment
The U.S. Department of Education releases official cohort default rates once per year.  A cohort default rate is the percentage of a school's borrowers who enter repayment on certain Federal Family Education Loan (FFEL) Program or William D. Ford Federal Direct Loan (Direct Loan) Program loans during a particular federal fiscal year (FY), October 1st to September 30th, and default or meet other specified conditions prior to the end of the second following fiscal year. The FY 2018 national cohort default rate is 7.3%.  Please refer to the chart below for Texas A&M University’s most recent cohort default rates.
 
OPE ID School Type Control   PRGMS    FY2018   FY2017   FY2016 
003632 TEXAS A&M UNIVERSITY
805 RUDDER TOWER
COLLEGE STATION   TX  77843-1246		 Master's Degree or Doctor's Degree   Public Both (FFEL/FDL) Default Rate  2.2%   2.8% 1.   2.1%
No. in Default  189   237   172 
No. in Repay  8409   8290   7873 
Enrollment figures

Percentage Calculation		  70245 

11.9% 		  68383 

12.1% 		  65913 

11.9% 
Source: Federal Student Aid, https://www2.ed.gov/offices/OSFAP/defaultmanagement/cdr.html

ENROLLMENT: To provide context for the Cohort Default Rate (CDR) data we include enrollment data (students enrolled at any time during the year) and a corresponding percentage (borrowers entering repayment divided by that enrollment figure). While there is no direct relationship between the timing of when a borrower entered repayment (October 1 through September 30) and any particular enrollment year, for the purpose of these data, we have chosen to use the academic year ending on the June 30 prior to the beginning of the cohort year (e.g., FY 2018 CDR Year will use 2016-2017 enrollment).
  1. Adjusted rate reflects Cohort Default Rate (CDR) data updated as a result of an appeal and/or adjustments submitted after official cohort default rates were released.
For more information on understanding default, please visit Federal Student Aid’s Student Loan Delinquency and Default webpage.
 

How much do I owe?

For information on how much you owe, contact the lender for each alternative loan. You can also see what you have borrowed while at Texas A&M on the Student Loan Debt Summary, found on the "Helpful Links" page in your Financial Aid Portal. Alternative Loans will not show up in the National Student Loans Data System.

How much will my monthly payments be?

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

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

When do I have to begin repaying my loan?

Repayment terms for Alternative Loans will differ based on the lender and terms of your loan. The promissory note that you signed for your loan will contain your repayment terms, options, and responsibilities. Many lenders offer incentives for timely repayment and options for repayment plans. Some lenders also have options to delay payment on your loans (deferment), or temporarily stop or reduce your required payment (forbearance).

Who do I pay?

You will repay the lender that you took out the alternative loan with. If you need help to determine who you owe, contact the Money Education Center to meet with an Advisor.

How much do I owe?

You can find the balance that is owed on your College Access Loan by signing in to your Texas Higher Education Coordinating Board account.

How much will my monthly payments be?

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

  •  Amount borrowed
  • Origination or other fees (if applicable)
  • Interest rate
  • Type of repayment plan

Loan balances under $30,000 have up to a ten-year repayment period with minimum monthly payments of $50. Loan balances of $30,000 or more have a repayment period up to 20 years.

When do I have to begin repaying my loan?

College Access 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.

Who do I repay?

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

How much do I owe?

You may view your Federal Perkins Loan balance and make payments through Heartland ECSI. Perkins loans are also reported to the National Student Loan Data System (NSLDS) and may be viewed on the Manage Loans page of the Federal Student Aid website.

When do I begin repayment?

The Federal Perkins loan has a nine-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
  • Interest rate
  • Type of repayment plan
  •  Other fees, such as late payment charges
You can contact Heartland ECSI for more information on estimated monthly payments.

Who do I pay?

If you received your Federal Perkins Loans while attending Texas A&M University, you will repay those loans through Heartland ECSI.
Customer Contact Number: (888) 549-3274
Heartland ECSI
(Texas A&M University’s School Code is RM)

How much do I owe?

You may view your loan balance, make payments, and learn about repayment options by clicking on the Borrower/Student image at the center of the Heartland ECSI homepage.

When do I have to begin repaying my loan?

Health Profession Student Loans and Loans for Disadvantaged Students have a twelve-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 payments be?

Many factors influence the monthly payment amount, total payout and length of repayment including:
  • Amount borrowed
  • Interest rate
  • Type of repayment plan
  • Other fees, such as late payment charges
You can contact Heartland ECSI for more information on estimated monthly payments.

Who do I pay?

Health Professions Student Loans and Loans for Disadvantaged Students are repaid to Texas A&M University through Heartland ECSI.

How much do I owe?

You can visit your MyAggieLoans Portal to view balances from Emergency Tuition and Fee Loans (ETFL) and Short Term Loans (STL).

When do I have to begin repaying my loan?

For Emergency Tuition and Fee Loans:

  • Fall/Spring loans are due about 90 days after the loan is applied to your student billing account.
  •  Summer loans are due about 30 days after the loan is applied to your student billing account.

For Short-Term Loans:

  • You select the length of your repayment period on your loan application; this period can be anywhere between one and twelve months long.

For the exact due date on your ETFL or STL, check MyAggieLoans Portal.

If your 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. You may contact Student Business Services via telephone at 979-847-3337 for questions about your loan repayment.

How much will my payments be?

The entire balance of the loan is due by the set due date, but there are no monthly payments required on either of these loans. There are no penalties for repaying your loan before the due date.

Who do I pay?

Please repay ETFLs and STLs via your MyAggieLoans Portal . Repayment terms are fixed for the semester in which you request the loan. All payments will be due on the 15th day of the month.

Depending on timing, your financial aid refund could apply toward your ETFL balance, but this is not always the case. It is your responsibility to use any refunds issued to you to repay your ETFL by the due date.