Federal Loan Repayment
Loan Repayment Options
Repayment plans determine your monthly student loan payment amount, how many years it will take to pay back what you borrowed, and how much interest you will pay over the life of your loan. Keep in mind, the longer it takes to pay back your loan, the more interest will accrue and increase the overall cost of your loan. View more information on loan repayment options.
Federal Perkins Loan Servicer
Carnegie Mellon has partnered with Heartland ECSI (Educational Computer Systems, Inc.) to service your Federal Perkins Loan. ECSI will send communications during your grace period, send bills and process your payments when your loan enters repayment, and provide other assistance to you as needed. Please login to Heartland ECSI’s website for more information.
National Student Loan Data System (NSLDS)
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guarantee loans, the Direct Loan program, and other U.S. Department of Education programs. Information regarding your federal loan debt can be accessed by visiting StudentAid.gov. Note that any private loans you have borrowed will not appear in the NSLDS.
As plans are made for repaying student loans, students may be considering loan consolidation as an option. Consolidation allows students to pay off some or all of their existing student loans by combining them into a single, large loan. Any consolidation loan is likely to significantly increase the total amount of interest that is required. If students are unable to meet their current monthly repayment obligations, it may be best to avoid consolidation.
If you decide that consolidation is appropriate, there are two types of programs:
Federal Consolidation Loans
- Fixed interest rate based on a weighted average of the current rates on existing loans
- Deferment options predetermined by federal regulations
- Cannot include non-federal (private) loan funds
Private Consolidation Loans
- Can include both federal and non-federal student loan funds
- Usually a variable interest rate
- Forbearances available only at the lender's discretion
Resolving Loan Repayment Disputes
If students have a dispute with their servicer or another agency regarding repayment of federal student loans, they may consider contacting the Federal Student Aid Ombudsman for assistance. Contact the Ombudsman's office by phone at 877-557-2575 or by mail at this address:
U.S. Department of Education
830 First Street, NE
Washington, DC 20202-5144