Federal student loan repayment can be messy. You may have several federal loans in different amounts, with various interest rates, possibly even with different servicers and lenders for each one. How can you manage to repay these loans—or get a grip when you’re feeling overwhelmed—when you can’t get a clear picture of your loan situation?
With borrowers like you in mind, the Department of Education created the National Student Loan Data System (NSLDS). The NSLDS Student Access website is a free tool available to every borrower of federal student loans. After you log in to the site using a secure PIN, you can see information such as how many federal loans you’ve borrowed, who is the lender and servicer for each loan, and how much you owe per loan.
Need more help? Read our NSLDS fact and instruction sheet (pdf, 689 KB) for more details!
Have you ever used NSLDS as a resource? What questions do you have about your student loan management? We want to hear from you!
Posted by Mike Ryan on March 23, 2009 at 11:23 AM EST
Dear Megan,
When NSLDS shows a loan disbursement amount as $0, the best way to verify the status of the loan is to contact your school or lender. In your case, where you have already graduated, it is likely that the loans were never disbursed and are not included in the outstanding loan balance shown on NSLDS.
Best of luck,
Mike
Posted by Michael Ryan on August 12, 2009 at 10:29 AM EST
Two of my Stafford loans show $0 disbursed to the school. They were for my last year of college, and I have already graduated. I believe I didn't end up needing them to pay for the last school year. Since I technically don't owe anything for these 2 loans, will they still count towards my outstanding balance?
Posted by Megan on August 04, 2009 at 01:20 PM EST
Dear Nate:
The National Student Loan Data System (NSLDS) is definitely a great place to start. By checking NSLDS, you can find a list of all of your federal student loans as well as the servicer and lender for each of your loans.
NSLDS also provides the contact information for these loan servicer(s). Your loan servicer will be able to provide you with the specific payment information you require.
Remember—NSLDS does not list private loans, so check your credit report for any private loans you may have borrowed, then contact those servicers.
Best of luck,
Mike Ryan
Posted by Mike Ryan on June 04, 2009 at 03:53 PM EST
Can I contact NSLDS to get an idea of how much I will be paying for all these loans once I graduate (after the grace period). I am trying to apply for a home mortgage and I need to supply a banker with a piece of paper stating my student loan payment each month. Can NSLDS do this for me? Do you know anyone who can?
Posted by Nate on June 04, 2009 at 08:51 AM EST
Dear Kina,
While you can find an estimate of the outstanding balance of your loans on NSLDS, to find the most current information, you should contact your lender or servicer directly.
Best,
Mike Ryan
Posted by Michael Ryan on April 06, 2009 at 11:44 AM EST
I am interested in checking the amount left on my student loan
Posted by Kina on April 02, 2009 at 03:00 PM EST
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Mike Ryan
Vice President of Borrower Services
Michael T. Ryan is Vice President of Borrower Services for American Student Assistance, a position he has held since joining ASA in February, 2003. Mr. Ryan heads ASA’s Borrower Services Division, which is responsible for all aspects of the management and delivery of service to borrowers in ASA’s education loan portfolio, including all default prevention and recovery efforts.
In his 20-plus year career in higher education financing, Mr. Ryan has held key management positions at the Massachusetts Educational Financing Authority (MEFA), and Key Education Resources (formerly Knight Tuition Payment Plans). As MEFA’s Associate Director for Programs and Operations, Mr. Ryan facilitated MEFA’s entry as a Federal Family Education Loan Program (FFELP) provider. He also played an instrumental role in the introduction of the U. Fund, (MEFA’s Section 529 College Investing Plan), managed MEFA’s U. Plan (Prepaid Tuition Program), and was responsible for the operation of MEFA’s loan programs.
While at Knight and Key, Mr. Ryan held progressively responsible management positions, from Account Manager to Senior Vice President.
Mr. Ryan is a graduate of Merrimack College.
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