: How can i get my student loan account number
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How To Find Your Student Loan Balance
If you’ve taken out federal student loans to pay for school, you might have multiple loans that spanned across different years. You might have even more loans to look out for if you’ve also borrowed private student loans.
Unless you’ve consolidated or refinanced your loans, you might not be able to keep up with them all. Here’s why knowing your loan balance matters, and how to find it.
Why It’s Important to Know How Much You Owe
It’s important to keep track of your student loan balance, especially if you’re responsible for multiple loans. If you lose track of just one due date, you could fall behind on loan payments. Payment history makes up 35% of your FICO score, and one missed or late payment can cause your credit score to drop.
Federal student loans come with loan limits, which depend on the year and the type of loan you borrow. For instance, first-year students are allowed to borrow up to $3,500 in federal direct subsidized loans. Third-year students can borrow up to $5,500 in subsidized loans.
If your subsidized loans don’t cover your costs, you might have to take out additional loans. These could be federal direct unsubsidized loans, federal PLUS loans or private student loans. Each year you need to borrow, you’ll take out at least one student loan—if not more.
When you borrowed your student loans, you agreed to repay that amount, plus interest, when you graduated or dropped below half-time enrollment. By the time you start repayment, your debt could’ve changed loan servicers (which is the company that collects your payments), making it even more confusing to find out how you can start payments. But finding out how much you owe and what companies manage your loans is a crucial step in tracking your loan repayment.
Checking Your Federal Student Loan Balances
If you borrowed money from the U.S. Department of Education, there are a few different ways you can check out your student loan balance.
1. Head to the National Student Loan Data System (NSLDS)
The Department of Education runs the Us bank jobs colorado springs. From here you can create a Federal Student Aid ID (FSA ID) or log in with your existing account.
The NSLDS will tell you:
- How much you’ve borrowed
- The type of loans you have (for example, whether it’s subsidized or unsubsidized)
- Each loan’s interest rate
- Payment status
- Your loan servicer (you could have more than one)
2. Contact Your School
Sometimes not all loans show up in the NSLDS. For example, loans that you didn’t take out yourself—like parent PLUS loans—would show up under your parent’s report. Along with that, not all loan entities report to the NSLDS frequently. This means you might not find all your loans, especially if you’ve recently borrowed.
If you want to make sure all your loans are accounted for, contact your school’s financial aid office. They’ll be able to look up your account information, including all loans processed under your name.
Keep in mind that while you might be able to get information about the lender who provided your loan when you were in school, there’s a chance your loan has changed hands since then. You can still contact the loan servicer on file, but you might have a little bit more digging to do if you find out your loan has moved to a different company’s portfolio.
Checking Your Private Student Loan Balances
Each private student lender handles loans differently; there’s no national database for private loans. If you’re unsure where to start, use these tips:
- Reach out to your college or university. Your school’s financial aid office will have your original loan details and can let you know what company originated your loan.
- Contact your original lender. Your original lender might still be your current loan servicer, but that’s not always the case. Contact the originating lender to see if they can point you in the direction of who has your loans now. You might have to reach out to many servicers to find the most up-to-date one.
- Review your credit report. If you don’t know the original lender or where to find them, use AnnualCreditReport.com. This lets you pull credit reports from the three major credit bureaus: Equifax, Experian and TransUnion. You’ll see details on your original loan servicer, giving you a starting point.
Should You Refinance or Consolidate to Simplify Repayment?
Staying on top of all your loans can be like a part-time job. You have to keep tabs on your borrowed amount, interest rate, due date and the minimum amount due every month.
To streamline your payments, you might want to think about consolidating or refinancing your loans.
Federal Loan Consolidation
A federal direct consolidation loan brings all your federal loans together into one easy-to-manage loan. Your interest rate is fixed and averaged out between all your loans, then rounded up to the nearest one eighth of a percentage point. This is only available for federal student loans; private student loans aren’t eligible.
You should consolidate if you:
You should skip consolidation if santander bank brooklyn locations to pay off your loans sooner
*The Department of Education announced temporary changes that allow PSLF-eligible borrowers to consolidate certain loans without restarting the clock. If you consolidate qualifying loans by Oct. 31, 2022, previous payments may still be eligible for PSLF. Find full details of the action steps you must take on the Federal Student Aid site.
Private Student Loan Refinancing
Refinancing is similar to consolidation in that you bring all your loans into one manageable loan. But refinancing is only done with private lenders; the federal government doesn’t offer student loan refinancing. That means you’ll lose federal loan protections when you refinance federal loans into a private one.
You can refinance both private and federal student loans together. You’ll complete an application with a lender and detail all the current student loans you want to refinance. When you’re approved, you’ll start making one monthly payment on your new loan to your new lender.
You should refinance if you:
- Have good or excellent credit and can secure a lower interest rate than what you’re paying now.
- Have multiple loans with many different lenders, especially private loans.
- Can secure a lower monthly payment by stretching out your loan term.
You should avoid refinancing if you:
- Don’t have strong enough credit to get a lower interest rate.
- Have federal loans that are eligible for an IDR plan or you’re on track for PSLF.
- Want to keep federal protections and benefits, like deferment and forbearance, in case you experience financial hardship.
While consolidation and refinancing might simplify your payments, they’re not necessarily the best decision for everyone. Review your loans, including your interest rate, repayment terms, how much you pay every month, and how much you could save if you choose either of these options. If you’re not saving money or you could end up paying more over time, you may want to stay on your current repayment schedule for now.
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When bills are piling up, student loan repayment might be the last thing on your mind.
Even though it’s tempting to avoid student loan repayment altogether, it’s important to continue managing your student loans. You don’t want to default on federal loans — doing so can have serious consequences.
If you fall behind on payments, the government could garnish your wages and withhold federal payments and tax refunds. You could even be prevented from purchasing or selling certain assets, and you could be sued.
You may also end up owing collection charges and fees if you default on your federal student loans.
If you find yourself unable to pay your student loans because times are tough, here are some student loan repayment options to consider.
One last note: If you’re struggling to pay your student loans because of the coronavirus pandemic, you should know that all federally held student loans have suspended any principal or interest payments until Dec. 31, 2020. Private student loan servicers aren’t required to offer relief, but many are. See Credit Karma’s coronavirus student loan relief hub for more information and contact your loan servicer to see what your options are.
- Contact your loan servicer to discuss your options
- Change your repayment plan
- Look into consolidation
- Consider deferment or forbearance
- Look into loan forgiveness
- Hear from an expert
- Student loan repayments and COVID-19
1. Contact your loan servicer to discuss your options
Instead of letting your federal or private loans fall by the wayside, consider contacting your loan servicer immediately if you can’t make your student loan payments.
Your loan servicer can discuss options with you and help you stay in good standing with your loans, so you can take steps to avoid student loan default.
2. Change your repayment plan
If you’re struggling to keep up with your federal student loans, another thing you may want to do is change your repayment plan.
Most federal student loans are eligible for income-driven plans, which cap your monthly payments at 10% to 20% of your discretionary income.
What is discretionary income?
According to the Federal Student Aid website, your discretionary income is defined as the difference between your income and up to 150% of the poverty guideline for your state and family size. This means that for some, the required monthly payments could be zero dollars until the borrower’s discretionary income increases.
Types of repayment plans
Federal loans have a few repayment plans. Let’s take a look at some of the different options available.
Standard, graduated and extended repayment plans
- A standard repayment plan has a fixed monthly payment.
- A graduated repayment plan begins your payments with a lower amount, which gradually gets higher.
- An extended payment plan lets you choose — your payments either can be fixed or graduated.
The repayment term periods for standard and graduated payment plans are up to 10 years for individual loans or up to 30 years if your loans are consolidated. For extended repayment plans, it’s up to 25 years.
Income-driven repayment plans
There also are some pay-as-you-earn repayment plans (also known as the REPAYE and PAYE plans), but these generally end up costing more than the standard 10-year repayment plan.
- The REPAYE Plan (or Revised Pay As You Earn Repayment Plan)
- This plan caps your monthly payments at 10% of your discretionary income (if you’re married, that includes your spouse’s income and student loan debt).
- It requires you to “recertify” each year, at which time your payments will be recalculated based on your updated income information and family size.
- You can use this plan if you have a qualifying loan, including a direct subsidized loan, direct unsubsidized loan, Direct PLUS loan (made to a student) or direct consolidation loan that does not include PLUS loans (made to a parent).
- If you’re still paying off your loan after 20 to 25 years, the rest of your balance is eligible for forgiveness. (Just keep in mind that you may need to pay income tax on the forgiven amount.)
- The PAYE Plan (or Pay As You Earn Repayment Plan)
- This plan is similar to the REPAYE Plan in that your monthly loan payments top out at 10% of your discretionary income.
- You’ll also have to recertify each year with this plan, and your spouse’s income, along with their student loan debt, will affect your payments.
- The same loans that qualify for REPAYE qualify for PAYE, but your debt must also be considered high in comparison to your income.
- Any balance left on your PAYE Plan after 20 years may be forgiven, which differs from the 20 to 25 years on your REPAYE Plan (though you’ll still likely have to pay income tax on that amount).
- To qualify for PAYE, you have to have been a new borrower on or after Oct. 1, 2007, and have had your loans disbursed on or after Oct. 1, 2011.
Repayment plans vary by loan and each plan comes with specific guidelines, so visit the U.S. Department of Education website to learn more details.
Before you change your repayment plan
If you’re considering applying to an income-based repayment plan, it’s important to calculate your potential payments using the official repayment estimator before switching. In some cases, your payments could be larger than what they would be under a 10-year standard repayment plan.
Choosing an income-driven plan can help lower your payments and make them more manageable. You’ll likely pay more interest over time under one of these plans — but it could be a lifesaver if you’re having trouble making payments.Looking for a loan? Shop for Personal Loans Now
3. Look into consolidation
If you’re struggling to keep up with multiple monthly payments, you may want to consider consolidation. Federal student loan holders can apply for a direct consolidation loan, which consolidates your loans into one loan from a single lender and one monthly payment.
There’s no application fee, and most federal student loans union bank email customer service eligible for consolidation. Private student loan holders aren’t eligible for a direct consolidation loan. But if you have a mixture of private and federal loans, the federal loans will still be eligible for consolidation, and total student loan debt, including private student loans, will affect how long you have to repay your direct consolidation loan.
As consolidation can offer you up to 30 years to pay off your loans, your new monthly payment could be lower than your current payments. The downside? You’ll likely pay more in interest over the life of the loan and you may lose certain benefits, such as interest rate discounts and cancellation benefits. Because of this, it’s important to weigh the costs and benefits before you consolidate.Student loans 101: A guide to loans for college
If you’re unable to repay your student loans because you’re experiencing economic hardship or are having difficulty finding work, you may be able to defer your federal loans for up to three years.
If you don’t qualify for deferment, you may be eligible for forbearance, which can postpone or reduce your payments for up to 12 months. For instances of medical expenses and financial hardship, your lender decides whether to approve you for general forbearance. In other cases, you may be eligible for mandatory forbearance if you meet certain eligibility requirements.
Borrowers must request deferment and forbearance — and they must continue to make payments until they’re approved. During forbearance you’re responsible for paying the interest that accrues on all types of federal student loans. But you may not be responsible for paying the interest that accrues on certain types of loans during the deferment period, so make sure you understand how your specific situation works.
What does it mean to defer your federal student loans?
Deferment is the process of temporarily postponing your student loan payments. Depending on the type of loans you have — such as Federal Perkins loans, direct subsidized loans and subsidized Federal Stafford loans — the federal government may even pay the interest on your loans during deferment. You must submit a request to your loan servicer if you’re interested in deferring your student loans.
5. Look into loan forgiveness
Another option you may want to consider is loan forgiveness.
Through the Public Service Loan Forgiveness Program, federal student loan borrowers who work in public service at a qualifying nonprofit or government agency may have their loans forgiven after 10 years of qualifying monthly payments.
Borrowers on an income-driven plan can qualify for loan forgiveness on their remaining loan balance if they make qualifying monthly payments for 20 to 25 years.
Student loan repayment can be stressful, but if you’re having a tough time, there are options for help.
If you can’t pay your student loans right now, the best thing to do how can i get my student loan account number contact your loan servicer to discuss your options. Not taking action can negatively affect your financial life and could lead to default.Looking for a loan? Shop for Personal Loans Now
Hear from an expert
Q: What advice do you have for someone struggling with student loan payments?
A: “Talk with one’s lender and also a reputable debt consolidation company. There are likely to be ways to restructure debt to reduce payments, either by taking advantage of current interest rates or lengthening the loan. It is better to do this before missing a payment harming one’s credit.”
— Dr. Alex Brown, Professor of Economics, Texas A&M University
Student loan repayments and COVID-19
Because of the economic effects of the coronavirus pandemic, certain student loan servicers are offering student loan payment relief.
If you’re having trouble making payments, get in touch with your servicer so you can avoid default. You can also take a look at Credit Karma’s student loan relief measures guide.
About the author: Melanie Lockert is a freelance writer and editor currently living in Portland, Oregon. She is passionate about education, financial literacy and empowering people to take control of their finances. Her work has been f… Read more.
TCC participates in the William D. Ford Federal Direct Loan Program (DL).
The following two loans are available through this program:
Federal Subsidized Stafford Loan: Awarded on the basis of financial need. The federal government pays the interest while you are in school. You must be enrolled in at least six eligible hours.
Federal Unsubsidized Stafford Loan: Is not awarded on the basis of need. You will be charged interest from the time that the loan is disbursed until it is paid in full. You must be enrolled in at least six eligible hours.
Applying for Federal Loans
To apply for a federal student aid direct loan, you must:
- Be fully admitted to TCC.
- Have your FAFSA application submitted and fully processed.
- Submit a loan request through MyTCCTrack.
- Expand the Financial Information menu
- Go to Financial Aid then Request a New Loan
- Complete and submit the Request a New Loan form chase bank login to my account login
- Complete the Loan Entrance Counseling (explains the obligations you agree to meet as a condition of receiving a direct how can i get my student loan account number loan). how can i get my student loan account number
- Complete the Master Promissory Note (MPN) after you've received an award notification with the loan amount offered.
- Be enrolled in at least six eligible hours and maintain satisfactory academic progress.
After steps 1-6 are met, the first disbursement will be issued by TCC approximately seven days prior to the start of the first six credit hours of the semester or approximately two weeks from the date awarded and all requirements are met, whichever is later.
First-time borrowers are required to wait 30 days before for their first disbursement and may need to set up a payment arrangement to secure their class schedule. One-semester loans are disbursed in two payments. how can i get my student loan account number
Federal Stafford Annual Loan amounts for a single academic year, effective July 1, 2008, are:
All direct loans are funded by the Federal Government and pay a 1.057 percent loan how can i get my student loan account number fee. Loan amounts maybe adjusted down based on an individual's Cost is state farm bank safe Attendance (COA).
Know Before You Owe!
Have questions about student loans? Get more information from the Department of Education's overview of direct subsidized loans. mission san jose high school map
The Federal Student Aid Calculators will help you estimate your monthly loan payment.
National Student Loan Data System (NSLDS)
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid.
NSLDS Student Access provides a centralized, integrated view of Title IV loans and grants, so recipients of Title IV Aid can access and inquire about their Title IV loans and/or grant data. The system can help you learn about your loan status, assist with repayment methods to keep your loan out of default how can i get my student loan account number keep you aware of where your loan debt is currently.
Federal Loan Servicers
You start loan repayment six months after you stop attending at least half-time. Once you go in to repayment, you will be contacted by a federal loan servicer to make payment arrangements.
Updated November 15, 2021
Student Loan Resources
Federal student loans:
- Federal Stafford Subsidized/Unsubsidized, and PLUS Graduate loans (a bank is the lender - FFEL).
- Federal Direct Stafford Subsidized/Unsubsidized, and PLUS Graduate loans (the Department of Education is the lender).
- Federal Perkins (Cal Poly is the lender).
To find out more about federal student loan terms, please access the Financial Aid web site.
To review your student loan disbursements to date, please access the National Student Loan Data System (NSLDS).
Non-federal Institutional (Campus-Based) Loans
Cal Poly is the lender for all the following loan types:
To find out more about Institutional student loan terms, please access the Financial Aid web site.
Non-Federal Alternative Student Loans
Non-federal alternative student loans are lent through a bank. The Student Accounts Office does not track these loan types.
California Dream Loan
Cal Poly is the lender for the California Dream Loan.
To find out more about the California Dream Loan terms and eligibility requirements, please access the Financial Aid web site.
To continue enjoying all the features of Navy Federal Online, please use a compatible browser. You can confirm your browser capability here.
Eligible federal student loan payments and interest have been suspended by the government through Jan. 31, 2022. If you have federal student loans, we recommend reviewing your current and potential future benefits before refinancing.
Updated as of Oct. 4, 2021
- Loans available for a semester or the entire academic year up to the school-certified cost of attendance1
- Variety of repayment options while you're in school to help reduce overall loan costs
- 0.25% interest rate reduction when you sign up for automatic payments2
- A co-signer release may be requested after 24 consecutive, on-time principal and interest payments3
- Rates & Terms
Variable APR as low as4
Fixed APR as low as5
- 0.25% interest rate reduction when you sign up for automatic payments2
- Save on interest, pay off faster or lower your monthly payment
- Loans for multiple children can be combined
- Co-signer release may be requested after 12 consecutive, on-time principal and interest payments3
- Rates & Terms
Variable APR as low as7
Fixed APR as low as5
5- 10- or 15-year8
To be eligible for student loans or student loan refinancing, applicants must meet credit and underwriting criteria and be a:
- member of Navy Federal Credit Union, or become one in the application process
- current student or graduate of an eligible school (excluding parent refinance loans)
- U.S. citizen or permanent resident
- legal adult in the state in which they reside (age 18 in most states)
Career Assistance Program Now Available With Any Student Loan
If you have a Navy Federal Student Loan, you’re automatically eligible to use an online job search training system and resources, which includes:
- job search and interviewing tips
- suggestions for how to find jobs not yet open to the public
- a job tracking dashboard
- online tools and exercises, including a resume builder
Our Online Application Is a Simple 3-Step Process
- Apply online and get notified of the preliminary application decision.
- Submit the requested documents. We'll email you a list.
- Receive the final decision and loan agreement, which you can sign electronically.
Navy Federal private student loans are subject to credit qualification, school certification of loan amount, and student's enrollment at a Navy Federal-participating school. Navy Federal reserves the right to approve a lower amount than the school-certified amount or withhold funding if the school does not certify private student loans.↵
The discount requires continued enrollment of automatic south carolina state tax refund tracker. The borrower authorizes automatic payments from a personal account how can i get my student loan account number Automated Clearing House (ACH). If automatic payments are canceled at any time after enrollment, the rate reduction will not apply until the automated payments are reinstated. Automatic payments may be suspended during periods of forbearance and deferment. For variable-rate loans, the APR, including the 0.25% rate reduction, may not fall below the floor rate.↵
Subject to Navy Federal Credit Union approval. A request to release a co-signer requires that the borrower has made consecutive timely payments during the repayment period with no periods of forbearance or deferment. The "repayment period" begins after any In-School and Grace Periods. "Timely payment" means each full principal and interest payment is made no later than the 15th day after the scheduled due date of the payment. "Consecutive payment" means the regularly scheduled monthly payment must be made for 24 months straight for private student loans, and 12 months straight for refinance loans, without any interruption immediately prior to the release request. To qualify for a co-signer release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.↵
Variable-Rate Loans: APR = Annual Percentage Rate. Rates and terms are based on creditworthiness and subject to change. The "as low as" rate displayed above assumes a 0.25% rate reduction upon borrower enrolling in automatic payments. Loan term includes up to five years of in-school time (inclusive of grace period) and ten years of repayment time. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.
Annual Interest Rate = Base Rate + Loan Margin. The Base Rate is the 90-day average of the daily SOFR published by the Federal Reserve Bank of New York as of two business days immediately preceding the quarterly adjustment date. The APR is variable and may change as the Annual Interest Rate varies with the 90-day SOFR, and therefore, may increase during the life of the loan.
Fixed-Rate Loans are based on creditworthiness and subject to change. The Interest Rate charged and the APR are constant for the life of the loan. The "as low as" rate displayed above assumes a 0.25% reduction (subject to the floor rate) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.↵
Variable-Rate Loan Payment Example: Loan repayment depends on the repayment option elected by the borrower.
A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 3.16% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $98.09 to repay this loan. If the APR is 8.89% and the loan amount remains $10,000, you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $166.99 to repay this loan. The APR may increase during the life of the loan and can result in higher monthly payments.
B) Interest-Only Option: You would pay the amount of interest that accrued during each month while you are enrolled in school, with a minimum of $25. Thereafter, you would make 120 monthly payments calculated based on the principal balance and accruing interest.
Fixed-Rate Payment Example: Loan repayment depends on the repayment option elected by the borrower.
A) $25 Monthly Payment Option: Assuming a $10,000 loan amount, a 10-year term and a 4.99% APR, you would make 54 (48 months in school + 6-month grace period) monthly payments of $25 while enrolled in school followed by 120 monthly payments of $116.62 to repay this loan. If the APR is 11.69% and the loan amount remains $10,000, you would make 54 monthly payments of $25 while you are enrolled in school followed by 120 monthly payments of $214.07 to repay this loan
B) Interest-Only Option: You would pay the amount of interest that accrued during each month while you are enrolled in school, with a minimum of $25. Thereafter, you would make 120 monthly payments calculated based on the principal balance and accruing interest.↵
Variable-Rate Refinanced Loans are based on creditworthiness and subject to change. The "as low as" rate displayed above assumes a 0.25% reduction (subject to the floor rate of 1.43%) upon borrower enrolling in automatic payments. For more information about the automatic payment borrower benefit, see the Automatic Payments Discount disclosure.
Annual Interest Rate = Base Rate + Loan Margin. The Base How can i get my student loan account number is the 90-day average of the daily SOFR published by the Federal Reserve Bank of New York as of two business days immediately preceding the quarterly adjustment date. The APR is variable and may change as the Annual Interest Rate varies with the 90-day SOFR, and therefore, may increase during the life of the loan.↵
Variable-Rate Payment Example: Assuming a $10,000 loan amount, a 3.42% APR, and a 15-year term, you would make 180 monthly payments of $71.10 to repay this loan. If the APR is 10.22% and the loan amount remains $10,000, you would make 180 monthly payments of $108.81. The APR may increase during the life of the loan and can result in higher monthly payments.
Fixed-Rate Payment Example: Assuming a $10,000 loan amount, a 15-year term, and a 4.68% APR, you would make 180 monthly payments of $77.42. If the APR is 12.03% and the loan amount remains $10,000, country homes for sale near austin tx would make 180 monthly payments of $120.21.↵
How To Find Your Student Loan Balance
It can be easy to lose track of all of your student loans and your total balance, especially when you're busy in college. Many students receive multiple small loans per semester, which can be a mixture of federal student loans—such as Perkins, Stafford, and PLUS—and private student loans. While your school financial aid office may be able to help you find some basic facts and figures, there are other effective ways to find out your total student loan balance.
Finding Your Federal Student Loan Balances
You can always access student loan information through your My Federal Student Aid account, where you can find your federal student loan balances under the National Student Loan Data System (NSLDS). This is the U.S. Department of Education's central database for student aid, and it keeps track of all your federal student loans.
You'll need a Federal Student Aid ID username and password to log in to the site. The ID serves as your legal signature, and you can't have someone—whether an employer, family member, or third party—create an account for you, nor can you create an account for someone else. The NSLDS stores information so you can quickly check it whenever you need to, and it will tell you which loans are subsidized or unsubsidized, which is important because it can determine how much you end up paying after graduation.
If your loans are subsidized, the U.S. Department of Education pays the interest while you're enrolled in school; interest accrues during that time with unsubsidized loans. To qualify for a subsidized loan, you must be an undergraduate student who has demonstrated financial need. Unsubsidized loans are available to undergraduate, graduate, and professional degree students, and there are no financial qualifications in place.
How NSLDS Knows Your Student Loan Balances
The NSLDS receives information for its database from a variety of sources, including guaranty agencies, loan servicers, and other government loan agencies. When you enroll in a college or university, the school also sends information, including any student loan debt you took on, to the NSLDS. It notes when you took out the loan, when it was disbursed, when your grace period ended, and when you paid it off.
The NSLDS is useful because it gives a total picture of your federal loans at once, so you know right away how much federal debt you have. However, it doesn't include any information about your private student loans.
Finding Your Private Student Loan Balances
Finding information about your private student loans can be a bit more difficult than getting your federal loan balances since private lenders sometimes sell their loans to other companies. If you're not sure who your lender is for private student loans, call your school's financial aid office for help or call your original lender if you know it.
If neither of those options works for you, you can figure out your private student loan lenders by reviewing your credit report. The report should show all of your current debts and accounts, including all student loans.
You can safely get a free annual credit report from all three reporting agencies—Equifax, TransUnion, and Experian—at AnnualCreditReport.com.
Why You Should Track Your Student Loans
While it might seem complicated, it is essential to keep track of your student loans and the amount of debt you owe, including knowing how much you borrowed and how much you owe once you add interest. This can be helpful while you are in college, and as you start your budgeting process after graduation. Many options exist for repayment plans, including the following:
- Standard plans: Payments are calculated to guarantee loans are paid off within 10–30 years.
- Graduated plans: These are designed to ensure loans will be repaid within a certain amount of time, but payments will increase gradually over time.
- Income-based: These repayment plans calculate your monthly payments based on how much you earn, with higher wages equaling higher payments.
Once you have a solid number to start with, you can begin to create a repayment plan to get rid of that debt as quickly as possible. You can develop a repayment plan that works for your salary and lifestyle and pays down the debt quickly to save you money over time. You can always contact your loan servicer to update your payment plan if your situation changes. This does not have a negative impact on your credit.
Frequently Asked Questions (FAQs)
Why is my student loan balance increasing?
Because some federal plans allow for income-driven repayment, it's possible that you're only paying a portion of the interest owed each month. This unpaid interest gets added to your principal and causes your balance to increase.
How do I consolidate student loans?
The process for consolidating your student loans depends on whether you have private or federal student loans. If you have private loans or want to combine private and federal loans into one, you'll need to refinance them with another private loan. You can consolidate multiple federal loans into one new federal loan through a Direct Consolidation Loan, which you can set up through the Federal Student Aid website.
When do you have to start paying student loans?
Most federal student loans have a six-month grace period that begins when you graduate, leave school, or drop below how can i get my student loan account number status. That means you have six months before you must begin paying back your loans. Private loan grace periods vary by lender.
Account Access From American Educational Services (AES)
Participate in the PA State Grant Program
To pursue a PA State Grant or Summer State Grant, you must create an account and sign in to Account Access to do any of the following.
- Complete the PA State Grant Form.
- Apply for a Summer PA State Grant.
- View the status of your PA State Grant.
- Submit enrollment changes. (Get the details.)
Apply for PA National Guard Benefits
If you are an eligible PA National Guard member or family member, visit Account Access to apply for benefits, view your application status and print related program details for the following programs.
- PA National Guard Educational Assistance Program
- PA National Guard Military Family Education Program
Check the Status of an Aid Application
If you have applied for one of these aid programs, visit Account Access to view your application status and print related program details.
- PA State Work-Study Program
- PA New Economy Technology Scholarship Program
- PA Ready to Succeed Scholarship Program
Review and Update Your Personal Information
With Account Access, it's easy to verify the personal information we have on file for you. If your information changes, update it online or let us know.
- Your address and phone number
- Your school
Manage Your Loans
If you have student loans that AES services, Account Access offers you even more benefits. Sign in to:
- View your account in a glance.
- Make payments.
- Check balances.
- Get tax information.
PHEAA and AES
Who is AES? PHEAA conducts its student loan servicing operations commercially as AES.
AES created Account Access to provide a way for borrowers to manage their loans online. PHEAA uses this secure service from AES to support students who participate in some of the aid programs that it administers.
With Account Access from AES, PHEAA can offer you top-notch service and convenience at no added cost.