Repayment Information

Review your options for paying back your student loans and who to contact for student loan disputes.

Except in cases of cancellation, you cannot avoid repayment—even if you do not complete your education. Student loans are discharged only if the student dies or becomes totally and permanently disabled. For students enlisted in the U.S. Army, the Army Reserves, the Army National Guard, or the Air National Guard, the Department of Defense may repay a portion of a Direct Loan. If you think you qualify, contact your education officer. Minimum payments generally start at $50 a month.

The interest on Direct loans will vary depending on when your loan was first disbursed. Please see the Federal Student Aid website for specific rates.

There are graduated repayments, fixed repayments, and income-sensitive repayments. Another repayment option is loan consolidation. Students who have taken out more than one student loan may be able to pay them all back using one repayment plan. Interest rates may change since consolidation of loans are based on a weighted average rounded up to the nearest whole percent. Only Direct and Educational Loans for Students are eligible for consolidation. Contact your service provider for more information.

To get an idea of what your monthly student loan payment may be with current repayment plans you can use the following Loan Estimator.

Loan Repayment Chart

Payments are based on loans repaid over a period of 10 years with an interest rate of 6.8%.

Total Amount Borrowed

Monthly Payment

Total Interest Repaid

Total Repaid





















































Student Loan Disputes

If you experience problems with loan consolidation, opening a case, or dealing with a servicer or lender and have exhausted other avenues of assistance, you may contact the Federal Student Aid (FSA) Ombudsman Group of the U.S. Department of Education (ED).

1(877) 557-2575

Mailing Address:
U.S. Department of Education
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633

Or, you may contact The New Mexico Educational Assistance Foundation (NMEAF) Ombudsman.

Toll-Free: 1(800) 279-3070, Ext. 1366

Mailing Address:
P.O. Box 92230
Albuquerque, NM 87199-2230

[email protected]