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Loan repayment

Borrowing to fund your education is an investment in your future. However, this is an investment that must be repaid. Repaying your student loans establishes your financial independence and credit history. It is very important that you manage your loan payments carefully—failing to repay as agreed can have serious consequences to your financial well-being.

Your loan payments will be handled differently, depending on the program.

Visit StudentLoans.gov and browse the "Managing Repayment" section for information on the following loans:

  • Federal Direct subsidized
  • Federal Direct unsubsidized
  • Federal Direct parent PLUS
  • Federal Direct graduate/professional PLUS

Student Financial Services is responsible for the billing and collection of

  • University Trust Fund Loans

Online account access

Access your ECSI account online. Your online account provides many convenient ways to manage your loan repayment. Use your ECSI PIN (not your federal aid FSA ID number), included with the billing statement. If you do not have a billing statement, please contact Student Financial Services (SFS) to have your PIN mailed to you.

Payment due

Payment must be received electronically, in person, or by mail on the 15th day of the following month by SFS. Postmarks are not considered proof of timely payment.

If you do not receive a bill, you are still expected to make a payment by the 15th of the month. Send your check or money order with your name and University student ID to SFS. Your canceled check is your receipt.

You may pay without penalty all or any part of the loan principal and accrued interest at anytime before it becomes due.

Pay in person

Payments can be made in person—by check or money order only—for the exact amount you want to apply to your loan balance (SFS does not provide change) at the SFS office at 129 Darland Administration Building.

Pay by mail

If you would like to mail a check or money order to make a payment on your loan balance:

  • Make the check or money order for the exact amount you want to apply to your loan
  • Send it in time to arrive (not postmarked) on or before the due date
  • Use the pre-addressed return envelope sent with your billing statement

If you do not have a pre-addressed envelope, send your payment to :

University of Minnesota Duluth
Student Financial Services
129 DAdB
1049 University Dr.
Duluth, MN 55812

Your receipt for a mailed in payment is your duplicate check or copy of your money order.

Program-specific terms

Many of the University-administered programs have special terms. They may differ in terms of deferment, payment relief, cancellation, or service requirements, for example. Look at the details linked to each of the loan programs for more information, and contact SFS if you have questions.

Failure to pay

Your payments and those of other borrowers are the primary source of loan funds for current students. Failure to make your payments could jeopardize the University of Minnesota's eligibility for loan funds to support current and future students. To protect the fund, the University implements aggressive collection efforts, including the use of collection agencies, litigation, revenue recapture, and credit bureaus. Your student loan repayment is required even if you:

  • are dissatisfied with the education you received
  • did not complete your program
  • cannot get a job in your field.


The University assesses monthly late fees and places a hold on your academic records if you fail to make a payment when due. A fee that is 20 percent of your monthly installment is added to the balance due whenever you make a late payment. For example, if your installment amount is $40 per month, the late fee will be $8 each month that your payment is late.

If you pay with a check from a bank account that has insufficient funds, SAA will assess up to the maximum charges allowed by law and apply the returned check fee to your loan account. You will be notified to replace the check, plus pay that fee.

If you fail to make loan payments, your loan will go into default status. As required by federal law, the University will disclose your loan default to a national credit bureau organization, along with other relevant information.

Please do not hesitate to contact a Student Financial Services representative if you have concerns or questions about your ability to repay your loans on schedule.

Review the SELF Loan FAQ for helpful information. For repayment questions or to make payments, contact the loan servicer:

Firstmark Services
PO Box 2977
Omaha, NE 68103-2977
Phone 888-538-7378

For repayment information on a private loan, refer to your promissory note and the lender you obtained the loan from.