LOAN REPAYMENT FEDERAL DIRECT LOANS
Direct Loans are federal subsidized and unsubsidized loans where the lender is the federal government. These loans are serviced by third party vendors contracted by the federal government.
Understanding the repayment process for your federal student loans can go a long way toward building a solid financial foundation.
Remember, federal student loans are real loans, just like car loans or mortgages. You must repay a student loan even if your financial circumstances become difficult. Your student loans cannot be canceled because you didn't get the education or job you expected, or because you didn't complete your education (unless you couldn't complete your education because your school closed). To estimate your federal student loan payments, you may use the Loan Simulator provided by logging into your dashboard on www.studentaid.gov.
If you have any questions about your federal direct loans, contact Direct Loan borrower services at 1-800-848-0979 or visit the Federal Student Aid website.
You should also contact your loan servicer if you:
- Need help making your loan payment
- Change your name, address, or telephone number
- Have a question about your bill
- Graduate
- Drop below half-time enrollment
- Transfer to another school
- Stop going to school
- Have questions on deferment, forbearance, or loan consolidation
- Have questions on loan forgiveness, cancellation, and discharge
- Have questions on how to resolve a dispute
- Need to understand the consequences of default
LOAN SERVICER INFORMATION
Who is my loan servicer for federal Direct Loans?
Visit your dashboard on studentaid.gov to view information about all of the federal student loans you have received and to find contact information for the loan servicer or lender for your loans. You will need your Federal Student Aid ID to access your information.
Below is a partial list of federal loan servicers.
- Aidvantage https://aidvantage.studentaid.gov
- Edfinancial https://edfinancial.studentaid.gov
- MOHELA https://www.mohela.com
- Nelnet https://nelnet.com/
LOAN REPAYMENT EXAMPLES
The U.S. Department of Education's Repayment Plans and Calculators website offers examples of loan repayment plans for some of the most common federal student loans.
NATIONAL STUDENT LOAN DATA SYSTEM (NSLDS)
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for federal student aid (FSA). If you've received FSA, an NSLDS history is available on your dashboard on studentaid.gov and lists your complete FSA history, including grants, loans, and other financial aid. It also lists your current loan servicer. To login to studentaid.gov, you use your Federal Student Aid ID (the same FSA ID used to sign the Free Application for Federal Student Aid [FAFSA]).