Using NSLDS to Determine the Number of Your National Student Loans

‘I just completed college and I have no idea how to find out how many student loans I have.’ A lot of students share this sentiment. I was in the same in the same situation when I completed college. I did not have a list of my student loans and I did not know how to check federal student loans. To solve the problem, I simply contacted the institution that offered me the loan and they pulled out a report showing how much money I owed on all my student loans.

There is a better way to check your student loans. The best way to do it is through the National Student Loan Data System (NSLDS).  This is a database that keeps a record of all federal student loans a person has. The best thing about NSLDS is that you do not need to contact anyone to use it. You can access it anytime anywhere. It will not only provide a list of the national students loans you owe but also tell you which types of loans they are.

How do I Find My Student Loans on the National Student Loan Data System?

How do I view my student loans on NSLDS? This is another popular question that students ask. It is very easy to search for student loans on this platform. Before you get access to the information you need, you will be required to sign up. To do this, you will need a valid email address and a social security number. You will also be required to set up a challenge question. This is important for when you forget your password. Answering the challenge question will help you gain access to your account or reset your password. If it is your first time logging into NSLDS, you need to choose ‘Financial Aid Review.’ When the login screen comes up, click on ‘Create an ASA ID.’ After this, you will be required to follow a number of steps to access the information you are looking for. From here, you can access the information anytime you wish and as many times as you want without being required to provide additional information.

How to Check Student Loans on NSLDS

It is very easy to check your loans on the platform once you have followed the steps mentioned earlier. The list of student loans normally comes in the form of a table such as the one shown below.

National Student Loans

You will see how many loans you have, whether or not they are consolidated and when you took out the loans. At first, it might be very difficult for you to see such big numbers but this information is extremely important. I was afraid to view my federal student loans but it was extremely beneficial. By viewing these numbers, I could check defaulted student loans and determine which ones I needed to pay off immediately. It also made it possible for me to finally come up with a plan on how to repay all my student loans. This would not have happened if I did not check my loans.

Where NSLDS Gets Students Information

You might be wondering how the NSLDS gets access to your loan information. It is very simple. Universities and colleges send all their students’ loan information to the NSLDS. This is possible because the school must be informed when the student is requesting a federal loan because they are required to sign off so that the student can be considered for the loan.

What You Should Do After Checking Your List of Student Loans

Once you have an idea about how many student loans you have. There are a number of things you need to do so that you can deal with the debt effectively. These include:

  • Determine the Most Urgent

The most urgent loan is the one which the grace period for the loan has passed. If the grace period for the loan has passed, it means you need to start making payments as soon as possible. Therefore, identify these loans and list them down in a notebook.

  • Find Out the Repayment Requirement

Most lenders have a minimum and maximum amount of money they require each student to make towards repaying their loan. This is very important information to have because it enables you to know how you are going to make the payment.

  • Create a Plan

Once you know what is required of you, the next thing you need to do is to create a plan on how you will go about making all the payments. Payments are made on a monthly basis. Therefore, you need to know which date of the month you are going to be making the payments based on when you receive your paycheck. If you are not employed, you need to come up with a plan on how you are going to going to defer the payments and for how long. This will help you be exempted from the obligations as long as you have valid reasons.

Will Your Loan Payments Reflect on NSLDS?

Yes. Once you have begun making payments for any loan, it will reflect on the NSLDS table with your loan information. Therefore, it is advisable to keep using it to see how much progress you are making towards paying off your student loans.

If you have been asking yourself ‘where can I find my student loans’ or you are wondering how to view student loans NSLDS is the platform to use. It contains all the information you need about your loans, it is very easy to use and you can access the information as many times as possible whenever you need it.