When I consult with folks here in New Jersey about their federal student loans, I first ask them to fill out a questionnaire and get it back to me for review. If I can help, we then schedule an appointment for a full analysis of their situation and explore all of their options..
But how do you get all of the information you need on your loans, such as current balances, interest rates, loan dates, and the like? Fortunately, the U.S. Department of Education has a web site to help!
What is the National Student Loan Data System?
This web site runs the National Student Loan Data System (NSLDS), which is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, and other U.S. Department of Education programs.
It provides a centralized, integrated view of your loans and grants, from aid approval through closure. The site is available 24/7, except for periodinc maintenance of the database which can occur on the weekends or after hours.
What Information Does It Have?
You can use the site to make inquiries about your federal loans and/or grants. It displays information on
- loan and/or grant amounts
- outstanding balances
- loan statuses, and
It also has a Glossary that defines terms relating to loans and grants.
How Do I Access the Database?
In order to use the NSLDS web site, however, you will need a User ID, known as an FSA ID. This can be obtained on the site by providing your name, Social Security number, date of birth, and five challenge questions. Your FSA ID can be used to access the NSLDS, the FAFSA site, StudentLoans.gov and StudentAid.gov. Need to change some of the information? No problem! There is an edit option!
Can You Help?
If you live in southern New Jersey and would like to consult with me on your loans to get a better payment plan, get out of default, or just get more information, please feel free to call my office at 856-432-4113 or contact me through this site to schedule an appointment in my Woodbury office to discuss your case.
If you would like more information about student loans, you can dowload my free book, I Graduated; Now What? A Guide to Dealing with Your Student Loans.