AUGUST 2025

Tuesday Tips



Navigating Student Loan Repayment

Check the Status of Your Loan

It's critical to confirm the status of your loan and learn what's expected of you. Visit Federal Student Loan Help - FAME Maine for step-by-step instructions on how to check your loan status and to learn what actions you need to take based on your loan status.

Consider Your Repayment Options

If you are in repayment or about to start, evaluate your repayment plan options—standard, graduated, extended and income-driven repayment plans. Use the Federal Student Aid Loan Simulator to compare monthly options and total cost. If you're finding it difficult to afford your payments, consider an income-driven repayment plan. 

Make Repayment as Easy as Possible

Consider enrolling in autopay to ensure that you don’t miss a payment. Autopay will help you avoid late fees, protect your credit, and reduce your interest rate by .25%.

Reach Out for Help Early

If you're struggling to make your payments, contact your loan servicer right away. (Your loan servicer is the organization that collects your loan on behalf of the federal government). They can help you switch to a more affordable repayment plan or pause payments through deferment or forbearance. These options might add interest, but it's important to avoid default, which has serious consequences.

Connect with Free Personalized Assistance

To support Maine borrowers, FAME has partnered with The Institute for Student Loan Advisors (TISLA) and ECMC Solutions, two national experts who provide free one-on-one personalized federal student loan counseling. These student loan experts are dedicated to helping you navigate your federal student loan challenges.

• TISLA provides free expert federal student loan advice to all Maine borrowers. Contact TISLA at FAME@freestudentloanadvice.org or visit Free Federal Student Loan Advice and Support for details on requesting assistance.
• ECMC Solutions provides free student loan counseling to borrowers who attended a campus of the University of Maine System, the Maine Community College System, or Thomas College. Borrowers can connect with ECMC Solutions via email or web chat, by phone at 877-331-3262, or by making an appointment.

Stay Informed

The One Big Beautiful Bill, also referred to as H.R. 1 included changes to federal student loan repayment options that will be implemented starting on July 1, 2026. For details, visit FAME’s Implications of HR1 for Maine Students and Families page and check out the Student Loan Repayment section. 

FAME provides guidance to Maine students and borrowers as they navigate all aspects of paying for higher education. Please contact us if you have any questions!

Additional Tips and Resources

July Tuesday Tips: All About the One Big Beautiful Bill Act

This extensive piece of legislation impacts various policies, including those related to paying for higher education. Here are five key changes that may affect how students and families finance education beyond high school and manage student loan repayment. 

Read more.

Managing Your Student Loan Debt Crisis

Get free, expert advice on how to get back on track with your student loans from FAME and national student loan expert Betsy Mayotte. We’ll help you understand your federal student loan repayment options and take control of your financial future.

Watch now.

We're Here to Help!

FAME's Education Affordability & Financial Wellness Team

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