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Here's a list of the most frequently asked questions. Please contact us for personalized assistance.

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Frequently Asked Questions

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You can sign up to have your loan payments automatically withdrawn from your bank account each month by completing and returning the Direct Debit Form.

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How do I set up automatic payments?

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Your account must be current before you can pay more to any single group. Extra payments must be mailed or paid in person and cannot be processed online. Include instructions on check of your extra payment of how you want the payment to be posted and include the specific loan group/loan number.
Mail payments to:
NMEAF- New Mexico Student Loans

P.O. Box 27020

Albuquerque, NM 87125-7020


Visit us to drop off payments:
NMEAF

7400 Tiburon NE
Albuquerque, NM 87109
Open Monday-Friday 8am-5pm
See Map

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How do I pay extra on one group/loan?

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Extra payments to the principal of your loan must be mailed or paid in person and cannot be processed online. Your account must be current before you can pay more to any single group. Include instructions on check of your extra principal payment of how you want the payment to be posted and include the specific loan group/loan number.

Mail payments to:
NMEAF- New Mexico Student Loans

P.O. Box 27020

Albuquerque, NM 87125-7020


Visit us to drop off payments:
NMEAF

7400 Tiburon NE
Albuquerque, NM 87109
Open Monday-Friday 8am-5pm
See Map

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How do I pay loan principal only?

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You can call our office at at 800.279.5063 or 505.345.3371 and our representatives will be happy to discuss your options. Download forms for repayment programs here.

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How can I set up a payment arrangement?

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Only the sources of taxable income are required. This includes your current federal tax return, pay statements (pay stubs), letter from employer, and self-certifying statement (certifying name of employer, address, telephone number, hourly pay and scheduled work hours, salary and pay frequency). Call us at 800.279.5063 or 505.345.3371 for more information.

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What information is necessary for documentation of income for an Income Driven Repayment?

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All loan repayment forms are available on our Forms page here.

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Where can I find and download loan repayment forms?

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There are several repayment options available to consider, see our trouble making payments pages for information on programs. We are here to help you with repayment options, please call us at 800.279.5063 or 505.345.3371 for personalized help.

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I’m having trouble making payments, what are my options?

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To make online payments you must create an online account:
To create a user account:
  1. Click on register
  2. Select a user name and password
  3. Verify your account information
  4. Select and answer the security questions

Online Account Payments Links:

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How do I make a payment online?


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Yes, unless you have applied for and been granted a forbearance to cover the payments that will come due while you are in the process of applying. Continuing to make payments will help protect your credit. We will notify you, in writing, when your request has been approved.

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Do I have to continue making loan payments while I'm in the process of applying for a deferment?

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You can call our office at  800.279.5063 or 505.345.3371 to cancel a single payment or stop recurring payments completely.  You must provide notice of at least three business days to stop a payment.

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How do I edit or cancel my recurring online payments?

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To stop a wage garnishment you can pay off the loan balance. If that is not possible, you may enter in to Loan Deferment or Income Driven Repayment plan. Call us at 800.279.5063 or 505.345.3371 to discuss your options.

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How can I stop a garnishment?

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Payments Questions

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There are many factors that may impact your payment. Call us at 800.279.5063 or 505.345.3371 to review your loan status. Periodically your loan is evaluated on the minimum payment and the loan term remaining (amount of months remaining to payoff loan). If it is determined your current payment will not pay off the loan within the remaining term then the payment may increase.

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Why did my monthly payment go up?

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The formula for computing daily/simple interest is principal balance multiplied by the interest rate divided by the number of days in the year multiplied by one day. (Principal Balance x Interest Rate/365 or 366 = Daily Interest Accrued) Call us at 800.279.5063 or 505.345.3371 for more information.

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How is my loan interest calculated?

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Interest accrues on your account daily. Paying less than the minimum due payment amounts, missing payment, or using deferments, forbearances or payment arrangements slows progress in paying your loans. Call us at 800.279.5063 or 505.345.3371 for more information.

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Why isn’t my balance going down?

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The IRS uses a calculated formula to determine your deductible tax interest over the life of your loan not year by year. Some years you may be eligible to have deduction greater than the amount of interest you paid and some years less. You will receive entire amount of deductible tax interest over the entire life of your loan. The amount on your 1098-E is what we reported to the IRS based on the complex yield formula. Contact your tax professional regarding any specific questions or find additional information at irs.gov. You can also call the IRS at 800-829-3676 for publications and forms, or 800-829-1040 for questions.

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Why is my 1098-E tax form interest different than the amount I paid?

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Tax information for your loans is on our Forms and Tax info page.

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Where can I find tax information?


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To determine if you are eligible to renew your deferment or forbearance, call us at 800.279.5063 or 505.345.3371.

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How do I renew a deferment or forbearance?

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We will send you confirmation, in writing, once your application has been received and approved. It can take up to 5 to 7 business days for us to process once we receive your application.

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How will I know if my deferment or forbearance application is approved?

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Billing Questions

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Log in to your online account. On the upper left click on profile and select change security questions. Make all changes to security questions and click the change security questions button.

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How do I reset my security questions?

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You can reset your user name or password by verifying your account online here https://www.mynmsl.org/AIO/Account/VerifyAccount. Please call 800.279.5063 or 505.345.3371 for further assistance.

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What do I do if I forget my password or my user name?

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You can reset your user name or password by verifying your account online here https://www.mynmsl.org/AIO/Account/VerifyAccount
Please call 800.279.5063 or 505.345.3371 for further assistance.

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How do I change my password?

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Account Access Questions

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Frequently Asked Questions

Here's a list of the most frequently asked questions. Please contact us for personalized assistance.
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Payments Questions

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How do I set up automatic payments?

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How do I pay extra on one group/loan?

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How do I pay loan principal only?

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How can I set up a payment arrangement?

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What information is necessary for documentation of income for an Income Driven Repayment?

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Where can I find and download loan repayment forms?

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I’m having trouble making payments, what are my options?

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How do I make a payment online?


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Do I have to continue making loan payments while I'm in the process of applying for a deferment?

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How do I edit or cancel my recurring online payments?

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How can I stop a garnishment?

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Billing Questions

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Why did my monthly payment go up?

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How is my loan interest calculated?

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Why isn’t my balance going down?

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Why is my 1098-E tax form interest different than the amount I paid?

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Where can I find tax information?


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How do I renew a deferment or forbearance?

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How will I know if my deferment or forbearance application is approved?

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Account Access Questions

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How do I reset my security questions?

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What do I do if I forget my password or my user name?

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How do I change my password?

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