Federal Student Loan Help for Maine Residents
Information regarding student loans is more overwhelming and confusing than ever. The multiple COVID payment pauses, discussions around forgiveness, and court cases have led many borrowers to be unsure about their loan repayment requirements and next steps. FAME is here to help by providing accurate information and resources to help Maine borrowers get the assistance they need.
If you borrowed a federal student loan, it’s important you know the status of your loan and what is expected.
Step 1: Check Your Loan Status
- Log into StudentAid.gov using your username / password (aka your FSA ID)
- Review your “Contact Information” under “Settings.” This is the contact information Federal Student Aid will use to reach you if there is an issue with your loan.
- On your “Dashboard” verify your loan servicer and contact information.
- Check the status of your loans, under “My Aid” → “View Details” → “View Breakdown” →”View Loans.” Each loan will have one of the following loan statuses: Repayment, Grace Period, Forbearance, Deferment, Delinquent, or Default.
- Create an account or log into your loan servicer’s website. Make sure to keep your contact information up to date.
Need help accessing your account?
Visit the Federal Student Aid Help Center.
Step 2: Find Help Based on Your Status
Repayment Status
What this means: You’re making payments as scheduled, but you may benefit from exploring other options if your financial situation has changed.
Consider these options:
- Income-driven repayment plans if your current payments are straining your budget. Use the Federal Student Aid Loan Simulator or contact your loan servicer to explore your options.
- If you haven’t already, consider setting up auto-debit payments through your loan servicer. This may save you money and help ensure your payments are on time.
- Learn more about Maine’s Student Loan Repayment Tax Credit and the federal student loan interest deduction. Paying less in taxes can free up money to help with loan payments.
Grace Period, Forbearance (i.e. in the SAVE Plan), or Deferment Status
What this means: Loan repayment will begin soon so get prepared.
Next steps:
- Explore your repayment options by using the Federal Student Aid Simulator, verify your loan servicer, and set up an online account (if you don’t have one already). If you have an online account with your loan servicer, make sure your contact information is current.
- Review your loan amount, payment due date, monthly payment amount, and repayment plan.
- Update your budget and make a repayment plan. For helpful resources, check out FAME’s free online financial wellness tool at FAME.Enrich.org.
- If you can’t afford your anticipated student loan payment, contact your loan servicer to explore options, such as Income-Driven Repayment.
- Learn more about Maine’s Student Loan Repayment Tax Credit and the federal student loan interest deduction. Paying less in taxes can free up money to help with loan payments.
Delinquent Status
What this means: You’ve missed one or more payments and your loan is delinquent. You’re at risk of default, but immediate action can prevent serious consequences. Loans more than 90 days delinquent are reported to credit bureaus and can negatively impact your credit score.
Essential next steps:
- Follow up with your loan servicer to discuss options including Income-Driven repayment plans, forbearance, or deferments to keep from falling further behind.
- Need help with your finances, or a budgeting tool to help make student loan repayment more manageable? Check out FAME’s free online financial wellness tool at FAME.Enrich.org.
- Learn more about Maine’s Student Loan Repayment Tax Credit and the federal student loan interest deduction. Paying less in taxes can free up money to help with loan payments.
Borrowers repaying their loans under the SAVE repayment plan are likely in administrative forbearance (no payments currently required) as the SAVE plan is suspended due to federal litigation. Check your exact status at StudentAid.gov.
Default Status
What this means: Loans with payments more than 270 days late will be in default. Serious consequences are occurring, which you can learn more about on Federal Student Aid’s website.
- Contact the Default Resolution Group to discuss your options for getting out of default. To log into the website you will need to create an account (you cannot log in using your StudentAid.gov username and password).
- To learn more about options to resolve your default, including loan rehabilitation and consolidation, visit Federal Student Aid’s website.
Resources for Assistance
Federal Resources (Official)
Federal Student Aid: StudentAid.gov
Your primary source for loan status, servicer contact information, and repayment plan applications
Default Resolution Group: myeddebt.ed.gov
Specialized assistance only for borrowers whose loans are in default
Federal Student Aid Information Center: 1-800-433-3243
Official federal helpline for student aid questions
Free Resources for Maine Borrowers
Institute of Student Loan Advisors (TISLA): freestudentloanadvice.org
TISLA offers free expert guidance from certified student loan professions. Maine borrowers can connect by email at FAME@freestudentloanadvice.org, or learn more about TISLA through their website.
ECMC: Proactive (Grace Period) Federal Student Loan Counseling
Borrowers who attended a campus of the University of Maine System, the Maine Community College System, and Thomas College can connect with ECMC Solutions through email, web chat, or phone 877-331-3262, or by making an appointment.
Maine Consumer Credit Protection: Student Loan Resources
Resources and help resolving a dispute with your loan servicer.
Frequently Asked Questions
Q: Will federal student loans be forgiven?
A: Current federal policy indicates that widespread loan forgiveness is not anticipated. Focus on sustainable repayment strategies.
Q: What if my student loan servicer isn’t helpful?
A: Try calling at different times of day (early morning or late evening often have shorter wait times). Use your servicer’s online chat or website resources first for basic questions. Document all your attempts to contact them, including dates, times, and what you discussed. Ask the customer service representative for their employee ID number (which helps with documentation and encourages better service). If you continue having problems, you can file a complaint with the Federal Student Aid Ombudsman at studentaid.gov/feedback-ombudsman.
Q: Can I choose my student loan repayment plan?
A: Yes, if you have federal loans, you can generally choose from several repayment options. Income-based plans require annual income recertification.
Q: What if I can’t afford any student loan payment?
A: Contact your servicer immediately to discuss your options. Be sure to document the conversation and ask the customer service representative for their employee ID number (which helps with documentation and encourages better service).
