Navigating through Federal Student

Loan Repayment

Defaulting and/or late payments adversely impacts the following areas:

1) job applications, as credit checks are run (especially for government jobs)

2) home loans, car loans, personal loans all require credit checks. Late payments or student loan default adversely impact loan approval

Reasons to keep track of loans

It is a good idea to verify loans both with your servicer(s) such as SallieMae, as well as with NSLDS. NSLDS is the national database that contains all loan information. HOWEVER, be careful, as data is not always the most current, as transactions between schools, lenders, servicers (buying and selling of loans, changes in who is servicing the loans) take time to post.

Sources of Information on Loans

1) Go to www.nslds.ed.gov 2) Log in Note: information is available in English & Spanish Español (Spanish)

Skip Navigation Financial Aid ReviewExit CounselingGlossary of Terms

Browser Info/Setup FAQs Contact Us Logoff NSLDS is a repository of information from many sources. Changes to the data

are made by those sources. Collecting the data into one central location such as NSLDS gives you convenience and saves you time. If for any reason you disagree with the information reported to NSLDS, please contact one or more of the sources of your data listed on the detail pages on this site. The Department is also available as a resource at 1-800-4FEDAID if you need additional assistance. Your comments and corrections will help improve the services NSLDS provides.

Aid Summary for “STUDENT’S NAME”

Identifying All Loans

Español (Spanish) Skip Navigation Financial Aid ReviewExit CounselingGlossary of Terms Browser Info/Setup FAQs Contact Us Logoff NSLDS is a repository of information from many sources. Changes to the data are made by those sources. Collecting the data

into one central location such as NSLDS gives you convenience and saves you time. If for any reason you disagree with the information reported to NSLDS, please contact one or more of the sources of your data listed on the detail pages on this site. The Department is also available as a resource at 1-800-4FEDAID if you need additional assistance. Your comments and corrections will help improve the services NSLDS provides.

Aid Summary for “STUDENT’S NAME” Your enrollment status is , effective 05/07/2010. Loans Please click on number in first column to see details Type of Loan Loan Amount Loan Date Disbursed Amount Canceled

Amount Outstanding Principal Outstanding Interest 1 STAFFORD UNSUBSIDIZED $2,212 08/07/2008 $2,212 $0 $2,306 $0 2 STAFFORD SUBSIDIZED $436 06/05/2008 $436 $0 $466 $0 3 STAFFORD UNSUBSIDIZED $1,776 06/05/2008 $1,776 $0 $2,056 $0 4 STAFFORD UNSUBSIDIZED $728 11/15/2007 $728 $0 $0 $0 5 STAFFORD SUBSIDIZED $2,228 10/12/2007 $2,228 $0 $0 $0 6 STAFFORD UNSUBSIDIZED $1,478 09/17/2007 $0 $1,478 $0 $0 7 STAFFORD SUBSIDIZED $280 07/02/2007 $280 $0 $0 $0 8 STAFFORD UNSUBSIDIZED $1,848 07/02/2007 $1,848 $0 $0 $0

Information contained on these pages reflects the most current data in the NSLDS database. The data contained on this site is for general information purposes and should not be used to determine eligibility, loan payoffs, overpayment status, or tax reporting. Please consult the Financial Aid Officer at your school or the specific holder of your debts for further information.

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Click on EVERY Loan listed

Detail Loan Information for Student

Your enrollment status is WITHDRAWN, effective 05/07/2010.Next Type of Loan: 1 STAFFORD UNSUBSIDIZED Loan obtained while attending the OUR LADY OF THE LAKE UNIVERSITY

Date Entered Repayment: 06/14/2009

Loan Period Begin Date: 08/30/2008 Loan Period End Date: 12/07/2008

Organize your loans

While in NSLDS, click on every loan and print the information. You can create an Excel spreadsheet with all the information to facilitate keeping track of payment dates, interest rates, principal amount, servicer,etc.

Compare information on your loans with your servicer information (SALLIEMAE). NOTE: Loans may be owned and serviced by the same servicer. It is important to obtain the exact amount owed, who owns your loans, and who is servicing your loans!

In order to decide whether or not to consolidate your loans, it is a good idea to:

first amortize all loans to determine how much interest will be paid over the life of the loans.

Research the various resources for consolidation to compare

Decide what will benefit you the most at this point in time.

Consolidate or not?

1) www.salliemae.com 2) www.aie.org )adventures in education 3) http://www.thecb.state.tx.us/ 4) Student aid on the web (Dept. of Education website)

http://studentaid.ed.gov/PORTALSWebApp/students/english/repaying.jsp

4) You can also google “federal loan consolidation” to obtain other sources

Resources for loan consolidation

Thank You!

Rick Moreno, Ph.D. MORENO Educational Consulting Services www.morenoeducationalconsultingservices.com