Manage Existing NM Student Loans

Resources & Links to manage your existing federal student loans from NMEAF

Account Management

Information and instructions to help you manage your existing student loan accounts.

Forms & Tax Info

Find a comprehensive list of student loan repayment forms and tax information to help you manage your student loans. 

Repayment Options

Learn about all repayment plans and options for student loans and special programs for military, teachers and healthcare workers.

Special Federal Student Loans Notices

Notification of Intent to Apply for Separation of a Joint Consolidation Loan

The separation and new consolidation process is being developed by the Department of Education but will likely not be fully implemented until late 2024 at the earliest. Due to the delay in the availability of the application process, joint consolidation loan borrowers are encouraged to contact the Federal Student Aid Ombudsman Group to indicate that they intend to apply for separation of their joint consolidation loans when the new application and promissory note become available. Borrowers will then be notified when the application process is available and the loan may be consolidated in to the direct loan program.
Borrowers with joint Direct Consolidation Loans may also contact their servicers to request that their loans be placed in forbearance status until the joint consolidation separation process is implemented.
Only one borrower will be required to apply for the forbearance. In situations where one borrower requests the forbearance and the other does not, both will be notified of the forbearance, and it will not preclude either from making voluntary payments. The forbearance will be for one-year at a time and automatically renew until the joint consolidation loan separation application and process is available and live. At that time, the forbearance will be removed for all joint consolidation loan borrowers who requested the forbearance, and it will be their responsibility to formally apply to separate their loans.

One-Time IDR Payment Count Adjustment for Eligible Borrowers

The Department of Education (ED) will conduct a one-time adjustment of IDR-qualifying payments for all William D. Ford Federal Direct Loan (Direct Loan) Program and federally-owned Federal Family Education Loan (FFEL) Program loans. The account adjustment will count time toward IDR forgiveness, including any months in repayment, any months spent in economic hardship, or military deferments. Borrowers who have commercially managed FFEL, Perkins, or Health Education Assistance Loan (HEAL) Program loans should apply for a Direct Consolidation Loan by April 30th, 2024 (extended from December 31st, 2023), to get the full benefits of the one-time account adjustment.

Please review more detailed information on the Department of Education Website.

Trouble Making Payments?

Here are some options for payment challenges. These options only apply to federal student loans and not to private student loans.


Deferment is a temporary solution where your loan payments will be postponed for a period of time. 


Forbearance is a temporary solution that stops or decreases your student loan payments when you are struggling to pay your student loans.

Consolidation & Forgiveness

Consolidate all of your federal student loans into one new loan. Some loans can be forgiven if you meet specific qualifications.

Avoid Default

If you are late making payments your student loan is considered delinquent. After many missed payments your loan goes into default.

Repaying Your Student Loans

We’re proud to have helped hundreds of thousands of students pay off millions of dollars in student loans since 1981. We’re here to help you take control of your financial life and provide the resources to manage and repay your student loans.

Paying Your Student Loans On Time Is Essential

Did you know that not paying your student loan is one of the worst things you can do? Not paying your loan can have serious consequences for your future.

We’re here to help you find the best option to pay your student loans and avoid all of the trouble that comes with delinquent and defaulted student loans. Contact us with questions about paying and managing your student loans.


Not paying your student loan bill on time or defaulting on your loan can follow you for your entire life.


If you don’t pay, your wages could be garnished or the government could seize your tax refunds.


A delinquent or defaulted loan can destroy your credit and make it difficult (or impossible) to get a credit card, auto loan or a home mortgage.


You may also have trouble getting a cell phone plan, renting an apartment, or signing up for utilities.


Bad credit may result in higher interest rates on future loans than someone with good credit.


It can take many years to reestablish a good credit record.


Student loans are not eligible to be discharged in bankruptcy.

Contact Us

Borrower Contact


TTY: Dial 711
(Hearing/Speach Impaired)

505-345-7269 or

Contact us through your
Account Access Login  

Defaulted Loan Contact


505-345-8821 Ext. 2110


Perkins or Campus-Based Loans Contact


505-345-8821 Ext. 2102

New Mexico Student Loan Ombudsmen

Have problems with your loans? Contact our Ombudsman to get additional help.


What is a Student Loan Ombudsman?

An Ombudsman is a neutral, informal, and confidential resource to help resolve disputes about your federal student loans. 

We strive to provide the best customer service. Please contact a supervisor or manager if you need additional assistance at 1-800-279-5063.

If you have already talked with us but still feel like you need additional assistance, our Ombudsman is available to help you. Our Ombudsman, Beth Leeway, is dedicated to helping resolve disputes related to Federal Family Education Loan (FFEL) Program loans and Guaranteed Student Loans.

Contact the NMEAF Ombudsman

Beth Leeway, Ombudsman New Mexico Educational Assistance Foundation
P.O. Box 92230
Albuquerque, NM 87199-2230

Toll-Free: 1-800-279-3070, Ext. 1366

Need additional help with your loan dispute?

The U.S. Department of Education has created the Office of the Student Loan Ombudsman to assist borrowers when all else fails. Contact the Department of Education’s Ombudsman at:

Office of the Ombudsman, U.S. Department of Education  
Room 3012, ROB #3 7th and D Streets SW
Washington, DC 20202
Toll Free: 1-888-557-2575