Loan Repayment
Many students use loans as a way to help pay for college. When they have finished school, it is time to pay these loans back. The federal government wants to make it as easy as possible for students to repay their loans; therefore, repayment terms are often very flexible.
With every loan received, students have rights and responsibilities. Students should review their loan documents before they begin repayment to refresh themselves with their repayment options. If a student is unable to locate their loan documents, they should check with their lender/servicer or a government web site.
It is important for students to keep track of the total amount of loans that they have borrowed. Students can view their federal loan history using the U.S. Department of Education's central database.
Students can estimate their monthly loan payment by using the U.S. Department of Education's interactive calculator on the Federal Student Aid web site.
If a student ever experiences difficulty in making a loan payment, they should always contact their loan servicer to prevent loan default. The loan servicer will work with the student and explore all options.
The Office of Student Financial Aid awards loans, but does not work with the repayment of loans. Listed below is contact information for loan repayment questions.
Federal Direct Loans
Direct Loan Servicing Center (www.dl.ed.gov)
800-848-0979
Federal Perkins Loan, Nursing Loan, and Health Professions Loan
Educational Computer Systems Incorporated (ECSI) (www.ecsi.net)
1-888-549-ECSI (3274)
University of Iowa Hallway (Emergency) Loans, Institutional, and Law Foundation Loans
University of Iowa Student Loan Administration Office (www.uiowa.edu/~fussla)
319-335-0071; 800-943-4557