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Pay in Full

Paying in Full May Be a Good Idea

If you can afford it, paying off your loan(s) is one way to resolve default.


If you pay the loan(s) in full within 60 days of defaulting, ECMC will not report the default to the national consumer reporting agencies (aka credit bureaus). Once a federal student loan default is reported, it can remain on your credit report for up to seven years, even if you pay it in full.

Other reasons why paying your loan(s) in full may be a good idea are:

  1. You regain eligibility for additional Title IV federal financial aid
  2. Your tax refund and government payments will not be seized
  3. You will realize interest cost savings
  4. You may be able to avoid collection costs

Contact ECMC to pay off your loan(s).

If ECMC holds your loan(s):