Loan Repayment
Understanding the repayment process for your student loans can go a long way toward building a solid financial foundation.
If you have borrowed a federal loan from UNMC and you will be graduating, withdrawing, or taking a leave of absence, you must complete exit counseling. The exit counseling is designed to make you aware of your repayment responsibilities, familiarize you with your lender(s), give you examples of repayment schedules, and to answer any questions you may have regarding your loans.
Exit Loan Counseling
Before you begin repaying your federal loan(s), the federal government requires that you understand the basics of repayment. Online exit counseling takes just a few minutes and will cover:
- The necessity of repaying your student loan
- Subsidized, Unsubsidized Stafford, PLUS, and Perkins Loans
- Your repayment options
- Estimating your payments
- Deferment and forbearance
- Reasons for loan cancellation
- Your rights and responsibilities
- Keeping in touch with your lender/servicer
We recommend you review your federal student loan accounts prior to starting the exit counseling session. Start your review.
Complete the Loan Exit Counseling
You will need your Social Security Number, Date of Birth, your FSA ID, and names, addresses, phone numbers, and email addresses for four references. This will take approximately 15 to 30 minutes to complete.
Additional Loan Information
UNMC is required to provide the additional loan information listed below. The links below are provided for your reference and access only.
You can view your federal loan history (Stafford, Perkins, PLUS, Grad PLUS) at Student Aid. This website will show all your prior loans, as well as, the lenders and servicing agencies attached to those loans. You will need your FSA ID to access this web site.
You can view your campus based loan history (Nursing Student Loan, Health Professions Student Loan, or Perkins Loan) at Heartland ECSI. First time users of this site are required to create a new user Registration. You will need your Social Security Number for this.
If you experience problems with your loans, you should first attempt to resolve complaints by contacting your lender or loan servicing agency. If you, have made a reasonable effort to resolve the problem through normal processes and have not been successful, you should contact the FSA Ombudsman.
Changes Announced in Federal Student Loan Servicers
Three current federal student loan servicers announced they will no longer be servicing federal student loans when their contracts expire on December 31, 2021. However, the Department of Education has extended FedLoan Servicing’s contract through 2022 to allow additional time to transfer their loan portfolio. On December 22, 2021, the Department of Education also announced MOHELA will be the future servicer for borrowers in the Public Service Loan Forgiveness (PSLF) Program and the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. Borrowers in these programs will remain with FedLoan Servicing until they are transferred to MOHELA later in 2022.
The Department of Education has selected new servicers to handle the billing and other services on federal student loans. Transition information is available on the new loan servicers’ website.
Borrowers will be contacted via email and phone regarding their student loans from both their current loan servicer and their new loan servicer. Please review the correspondence carefully as you may need to create a new online account and update your direct debit information.
The current payment pause and 0% interest on student loans remains active through December 31, 2022.
Borrowers are encouraged to visit Who’s My Loan Servicer for further information.
Federal Student Loan Services
Current Loan Servicer | New Loan Servicer |
FedLoan Servicing/PHEAA | MOHELA |
Granite State | Edfinancial |
Navient | Aidvantage |
