Loan Repayment Plans

The most accurate information about your Federal student loans (excluding Title VII and VIII Health Profession Loans) is available in the National Student Loan Data System (NSLDS)

→ Log in using your FSAID (the same username and password as used to sign your FAFSA).
→ You will be able to see a list of your Federal Student Aid History, including servicer contact information.

For more information regarding private loans, contact your servicer for assistance. If you are unsure if you have borrowed a private loan, review your most recent Credit Report for information; you can request a Credit Report online at http://www.annualcreditreport.com

Federal Loan Servicers

If you have borrowed funds under the Federal Direct Loan program, your repayment and processing has been assigned to a servicer; a servicer acts as a middle-man for the Dept of Education in their collection for student loan repayment. You may have received correspondence from one of the servicers below:

 

Cornerstone https://www.mycornerstoneloan.org 1(800) 663-1662
ECSI https://efpls.com 1(866) 313-3797
FedLoan Servicing (PHEAA) https://myfedloan.org 1(800) 699-2908
Granite State – GSMR https://gsmr.org 1(888) 556-0022
Great Lakes Educational Loan Services https://www.mygreatlakes.org 1(800) 236-4300
HESC / Edfinancial https://edfinancial.com 1(855) 337-6884
MOHELA https://mohela.com 1(888) 866-4352
Navient https://www.navient.com 1(800) 722-1300
Nelnet https://www.nelnet.com 1(888) 486-4722
OSLA https://osla.myloanmanager.com 1(405) 556-9200

 

Overview of Direct Loan and FFEL Program Repayment Plans

To estimate your repayment and see different repayment options, go to The U.S. Department of Education’s Federal Student Aid Loan Simulator.

Standard Repayment Plan

Eligible Loans

Monthly Payment and Time Frame

Payments are a fixed amount that ensures your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).

Eligibility and Other Information


Graduated Repayment Plan

Eligible Loans

Monthly Payment and Time Frame

Payments are lower at first and then increase, usually every two years, and are for an amount that will ensure your loans are paid off within 10 years (within 10 to 30 years for Consolidation Loans).

Eligibility and Other Information


Extended Repayment Plan

Eligible Loans

Monthly Payment and Time Frame

Payments may be fixed or graduated, and will ensure that your loans are paid off within 25 years.

Eligibility and Other Information


Revised Pay As You Earn Repayment Plan (REPAYE)

Eligible Loans

Monthly Payment and Time Frame

Eligibility and Other Information


Pay As You Earn Repayment Plan (PAYE)

Eligible Loans

Monthly Payment and Time Frame

Eligibility and Other Information


Income-Based Repayment Plan (IBR)

Eligible Loans

Monthly Payment and Time Frame

Eligibility and Other Information


Income-Contingent Repayment Plan (ICR)

Eligible Loans

Monthly Payment and Time Frame

Your monthly payment will be the lesser of:

 → 20 percent of discretionary income, or

 → the amount you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income.

Any outstanding balance will be forgiven if you haven’t repaid your loan in full after 25 years.

Eligibility and Other Information


Income Sensitive Repayment Plan

Eligible Loans

Monthly Payment and Time Frame

Your monthly payment is based on annual income, but your loan will be paid in full within 15 years.

Eligibility and Other Information

 

Default Prevention

The main goal of The Default Management Office is to keep all students in repayment by guiding, encouraging and reminding them why they’re enrolled in their respective programs in the first place. We remind students of the value that their degrees hold and the importance of keeping their student loans in good standing for their future. Default Prevention and Management strategies are continuous at Eastern International College and vary over the course of the student life cycle. Default Prevention is a collective effort of all offices Registrar, Bursar, Financial Aid Office, Default Management Office and Dean of Education.    

If you are having difficulty repaying your loans or need assistance in navigating the different options that you may have, you have an advocate at the College in the Default Management Office. It is very important to stay aware of your loans and in contact with your servicers. Remember that you are not alone, and that your servicer(s) are willing to work with you. For assistance, feel free to contact the College’s Default Management Office. 

Default Management Office

(201) 216-9901

evelyn.lopez@eicollege.edu
andrea.ojeda@eicollege.edu
marlin.polcanco@eicollege.edu