FAQ’s

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

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

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.

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.

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

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.

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:

• Federal Family Education Loans https://www.mynmsl.org/AIO
• Perkins Loans and NMEAF Private Loans https://nmeaf.uasecho.com/Account/SignIn 

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.

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.

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.

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.

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.

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.

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

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

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.

You can reset your user name or password by verifying your account online here verify your account. Please call 800.279.5063 or 505.345.3371 for further assistance.