Student Loans

Sometimes it’s necessary to borrow for major purchases like your education, a car or a home. Keep in mind that you might not need to borrow the entire amount of money that is offered to you. Borrow only what you absolutely need and give the rest back. Whether borrowing federal or private student loans, students should be aware of the details of their loans.

Before You Borrow, Ask Yourself

  • What will I purchase with the borrowed money?
  • Is it necessary to accept the full amount that is offered?
  • When does the repayment period begin?
  • Can I come up with some of the money another way?
  • What is my interest rate going to be? What is a good interest rate for this loan?
  • How long will it take to repay this loan?

Loan Repayment Resources


As a student loan borrower, it is important to understand your responsibilities and options in order to avoid defaulting on your loan payments. You can find out who your loan servicer is by visiting the National Student Loan Data System and clicking “Financial Aid Review”. You will then log in to NSLDS with your FSA ID.

Once you are logged in, you will be able to view all of the federal student loans you have borrowed. Next to each loan is a blue box with a number, if you click on that blue box you will be able to learn who your loan servicer is. You will make your loan payments to your loan servicer. Their contact information will be displayed, so make sure to visit their website and create an account with them. It would be beneficial to call and speak to one of their representatives to learn about what repayment plans you may qualify for and also how repayment will work.