Before you can begin repayment, it is important to know which loan servicers will be handling your loans, the type and amount of each loan, and other important details essential in managing your student debt. The following resources will help simplify the process of gathering this information.

• How to Access Your Student Loan Data (courtesy iGrad):
• Loan Portfolio Sheet (courtesy ASA)

Direct Loans require repayment. After a student graduates, leaves school or drops below half-time (i.e., less than 6.0 credits), a student has a six month grace period before repayment begins. If a student has a subsidized Direct Loan, neither the interest nor the principal needs to be paid during the grace period. If a student has an unsubsidized Direct Loan, the student will be responsible for the interest from the time the loan was disbursed until the time that the loan is paid in full. More information about deferments and/or forbearance etc., is available below at:

• Funding Your Education Beyond High School (PDF Download)
• Mapping Your Future: Managing Your Student Loan Debt
• Federal Student Aid website
• Financial Aid Facts

For Direct Lending borrowers, below is contact information for the Department of Education:

• Department of Education's Direct Loan page
• 1-800-848-0979 - for borrowers (FASFA pin number required)
• For Repayment Questions - 1-800-508-1378

• Federal Student Aid's Loan Repayment page
• Mapping Your Future's Information for Undergraduate Students
• Nelnet's Website
• Sallie Mae's Website
• Financial Aid Facts: Student Loans
• Income Based Repayment (IBR) Information
• Direct Loan Servicing Online
• ECMC.org
• Student Assistance Corporation (SAC)
• Solutions for Borrowers Who are Having Trouble Repaying Education Loans
• Manage Your Student Loan Debt
• The Student Guide (PDF download)
• Fastweb: Graduates to get a break on loan repayments

• Department of Education's Deferment and Forbearance page
• Student Assistance Corporation (SAC)
• The Student Guide (PDF download)
• In-School Deferment Form (FFELP)
• In-School Deferment Form - Direct Lending
• Direct Loan Contact Information
• SLBA: About Deferments
• Public Service Forgiveness (PSLF)
• Teacher Loan Forgiveness
• U.S. Department of Education Cancellation and Consolidation page

Perkins Loan requires repayment. After a student graduates, leaves school or drops below half-time, a student has a nine month grace period before beginning repayment. The interest does not need to be paid during the grace period. Payment is made to the school, the University of Maine (UMS) Loan Processing Center, or to Educational Computer Systems Inc. (ECSI). (Contact information available below.)

A borrower will be considered in default on his/her loan if he/she fails to meet his/her repayment schedule or fails to file a deferment or cancellation form on time. If in default, official University records can be withheld, the student may not register for courses on any University of Maine System campus, the total loan can be accelerated (become due and payable immediately), and the loan may be sent to a collection agency or to attorneys for litigation. If these actions are necessary, the borrower may incur additional costs and the loan may be sent to the U.S. Department of Education for collection. Income tax refunds due to the borrower can be withheld to repay the loan.

Interest does not accrue and payments may be deferred under the following circumstances: economic hardship, unable to find full-time employment, fellowship/rehabilitation, forbearance, and cancellation services, or returning to college as at least a half-time student after withdrawing, (loan payments may be deferred until he/she graduates or withdraws again). Cancellation of all or part of your loan may be possible under the following conditions: teaching (at low income schools), head start, certain fields of nursing/medical technician or specified military duty, military combat, law enforcement, special education, family services, teacher of math/science/foreign language, specific volunteer programs, total disability, bankruptcy and death.

The University of Maine at Fort Kent is the lender of your Perkins Loan. However, the University of Maine (UMS) Loan Processing Center is who you will contact for information regarding your loan. The Center is available to assist you with your Perkins questions and with the repayment process.

In addition, The University of Maine at Fort Kent uses ECSI, is a billing service for Perkins Loans. ECSI will also be working with you with the repayment of your Perkins loan.

Contact information for both the UMS Loan Processing Center and ECSI is provided below:

In-school deferments are available for those who return to at least half-time study at an eligible institution. Other deferments are also available.

• Locate all your federal loans: studentloans.gov (FAFSA PIN number required)
• The Student Guide (PDF download)
• Federal Student Aid's Loan Repayment page
• Federal Student Aid's Perkins Loan page
• FAME's Loan Repayment Page
• Mapping Your Future's Information for Undergraduate Students
• Solutions for Borrowers Who are Having Trouble Repaying Education Loans
• Manage Your Student Loan Debt
• Financial Aid Facts: Student Loans

Direct Parent/Plus Loans require repayment. Generally, repayment must begin within 60 days after the loan is fully disbursed. There is no grace period for Parent/Plus Loans.

Parents borrowing a Plus Loan may request a deferment of the loan from the lender/loan servicer:

• while your child is enrolled at least half-time and
• for an additional six months after your child ceases to be enrolled at least half-time.

Interest on the loan will continue to accrue during deferment. You may choose to pay the interest during the deferment period, or wait until the deferment period ends. You will be contacted by your loan servicer when your first payment is due.

For more information on repaying your Parent/Plus Loan, please visit the following websites:

• Federal Student Aid: Paying Back Your Parent/Plus Loan
• Department of Education: Repayment Information for Parents
• ParentPLUSLoan.com: Plus Loan Repayment Options
• Mapping Your Future: Repayment of Plus Loans for Parents

Alternative/Private loans require repayment and must be paid back. Repayment terms and options may vary from lender to lender. For more information contact your lender and/or go to their website.