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Financial Aid

Repaying Your Loans

Accessing Your Loan Records

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.

What you need to know about paying back your Direct Loan

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:

Where can I find more information regarding Direct Loan Repayment, Consolidation and Deferments?

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

Direct Loan Repayment Information and Resources:

Direct Loan Deferment, Forbearance, and Cancellation Information and Resources:

More information on income-driven plans, and other repayment plan options, is available on StudentAid.gov at https://studentaid.ed.gov/sa/repay-loans/understand/plans. The Repayment Estimator is available at http://studentaid.gov/repayment-estimator.

What you need to know about paying back your Perkins Loan

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:

Loan Processing Center Contact Information

  • Phone: 1-800-308-6148
  • Fax: 207-561-3430
  • Mailing Address:
    Processing Center
    PO Box 412
    Bangor ME 04402

ECSI Contact Information

About Perkins Loan In-School Deferment:

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

Perkins Loan Repayment Information and Resources:

More information on income-driven plans, and other repayment plan options, is available on StudentAid.gov at https://studentaid.ed.gov/sa/repay-loans/understand/plans. The Repayment Estimator is available at http://studentaid.gov/repayment-estimator.

What you need to know about paying back your Parent/Plus Loan

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:

What you need to know about paying back your Alternative Loan

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.