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REPAYMENT TERMS

Payment Arrangements:

Borrowers in current repayment status:

Contact your servicer Firstmark at 888-295-0902 or visit their site for loan and payment information.  You and any cosigners should be receiving regular monthly billing statements from Firstmark Services.

Borrowers in delinquent status:

Contact your servicer Firstmark at 888-295-0902 or your lender, the MI-LOAN Program office today at 888-643-7521 to discuss payment options to avoid default.  You may be eligible for Forbearance.

Borrowers in default status:

MI-LOAN Program student loans remain in default until rehabilitated or paid in full.

Contact the MI-LOAN Program office today at 888-643-7521 to make payment arrangements and/or for information on loan Rehabilitation. Loan rehabilitation requires nine on-time, monthly payments within a consecutive ten-month period to be eligible to apply to have your loan(s) removed from default.

 

For assistance call 888-643-7521 or e-mail SLP@michigan.gov

All borrower options and benefits are subject to change.