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Inceptia

Dodging Default

Inceptia LogoNew Mexico State University has partnered with Inceptia, a private repayment counseling service that can help you make a smooth transition from your in-school period to your repayment period.

Inceptia can help those students currently in their Grace Period, those that have exited Grace and are in full Repayment, and those that have let their loans lapse become delinquent. Reach out to Inceptia early to prevent default.

If your loans are in a grace period or repayment (not delinquent) and have questions about repayment, contact 1-855-253-0913 for assistance!

If your loans delinquent and need assistance getting back in good standing contact 1-855-471-1615.

Remember, if you are having trouble making your payments, you can also call the Direct Loan Servicing Center at 1-800-848-0979. The Direct Loan Servicing Center will work with you to help you avoid the serious consequences of default.

Consequences of Defaulting

  • The entire unpaid balance and accrued interest becomes due and payable immediately
  • Losing your deferment options
  • Losing eligibility for additional federal student financial aid
  • Your account is assigned to a collection agency
  • Your account will be reported as delinquent to credit bureaus, damaging your credit rating
  • The Federal Government can intercept any income tax refund due to you or you and your spouse
  • Late fees, additional interest, court costs, collection fees, attorney’s fees, and other costs incurred in collecting your loan will increase your loan debt
  • Your employer (at the request of the Federal Government) can garnish part of your wages and send them to the government
  • The Federal Government can take legal action against you
  • Losing¬†your state issued drivers license
  • Losing your professional licensure