Your Federal student loan history can be found on the Federal Student Aid website, including when your loan was given to you, how much, and who you have to repay back to. 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 does interest begin accumulating?
When do I begin paying back my loans?
How much will my monthly payment be?
Many factors influence the monthly payment amount, total payout and length of repayment including:
Monthly payments can be estimated using the Federal Student Aid Repayment Estimator. Several different options exist for repayment plans to fit different financial situations. For details on repayment plans available, please visit Federal Student Aid website.
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 Manage Your Loans page on the Federal Student Aid website. You should be notified by each servicer of all repayment information.
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 under the Resources tab 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:
When do I have to begin repaying my loan?
Repayment terms for Alternative Loans is going to be different 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.
You can find the balance that is owed on your College Access Loan by signing in to your Texas Higher Education Coordinating Board account.
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.
When do I begin repayment?
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
ECSI Website: www.heartlandecsi.com
(Texas A&M University’s School Code is RM)
For Emergency Tuition and Fee Loans:
How much will my payments be?