Stafford Student Loan News

It is always wise to know what kind of loans you have borrowed, how much you owe, and who services your loans. Being knowledgeable about your loans now, will help you repay them later. Here are instructions on how to look up your Federal loans on the US dep’t of Education’s loan Database:

1. Start by visiting: NSLDS on the Web. Click on Apply Now.
Find federal loan information at pin.ed.gov

2. Read the privacy notice, then click Next.
Privacy notice about your federal loan information

3. Fill out the PIN form. Make sure you include a working email address.
Use your PIN to locate student loan data

4. Agree to the terms
Remember, to protect your privacy and reduce the possibility of identity theft, NEVER share your PIN, even with the Student Loan Network.
Get your PIN to access federal loan info
You’ll receive your PIN via email in about 2 days. Once you have your PIN, you’ll be able to log onto the NSLDS website and obtain your student loan information.
Your PIN allows access to the National Student Loan Data System

5. Visit NSLDS at http://www.NSLDS.ed.gov on the Web
NSLDS allows you to find student loan info

6. Read the privacy notice and click Accept
National Student Loan Data System for federal loan info

7. You’ll be asked what kind of encryption you want
If you are surfing the Web with Firefox, choose the left option. If you are surfing the Web with Internet Explorer, choose the right option. If you’re not sure, choose the one on the right.
Your student loan information is encrypted

8. Log in with your PIN and other identifying information
Your PIN provides access to the NSLDS

9. On your personal NSLDS homepage, you’ll be presented with a list of your loans and current status. Print this page.
The national student loan data system supplies your current loan info

10. For each of your loans, click on the blue number next to them and print the summary page about the loan.

One final word of caution: this change by the Department of Education may increase the potential for identity theft. Do not mail your information to any company that you did not request an application from!

Happy New Year! I get a lot of questions daily about a school’s role in the Stafford loan. In order to borrow a Stafford loan, the school you attend MUST certify it. There is no way around it. Your school must have an updated/renewed student aid report on file from your FAFSA, and them must certify the loan with the lender of your choice. Yesterday I had a caller that says she attened 75% of her classes in the Fall, and her school would not certify her loans for the Spring because they require an 80% attendance rate. Can they do this? Yes, the school has the right to set policies for the loans they certify. If you do maintain a 2.0 they will not ceritfy loans. If you do not attend your classes, they have the right to revoke your federal loan priveleges. If you are unaware of your school’s policies, I would definitley check with financial aid.

It’s now 2008, and that means it’s time to file your FAFSA as soon as possible! Head over to FAFSAonline.com for some great tips on how to get the most financial aid possible.

Now’s a good time to apply for a Stafford Loan for spring semester. Financial aid offices aren’t too swamped yet.

SHHHHH

At some companies, the Holidays bring joy and days off from work….here at Edvisors…it brings bad moods and 14 hour days. JUST KIDDING! We are nearing the time when we draw names for our Secret Santa gift exchange…and the anticipation is killing me. Who will I get? Who will get me? Will I get Vodka? Here are some key questions to ask about the person you are shopping for and of course…my answers for the unfortunate person that gets me this year for Secret Santa:

1. What type of music does s/he like?
My Morning Jacket, My Morning Jacket, and My Morning Jacket
2. What is his/her favorite store?
http://mymorningjacket.shop.musictoday.com/
3. What is his/her favorite color?
Green
4. Is there anything that s/he is allergic to?
not that I know of
5. Does s/he drink?
look under my desk to find out
6. Is there anything s/he feels strongly against?
animal abuse (so… no fur products please)

A few things to consider, while you are trying to figure out what to get this person who you see more than your own family…but have no clue who this person actually is….

1. ask someone who knows them better for help without giving the secret away
2. don’t get them food if they are on a diet
3. don’t get them anything work related…like a three hole punch, or a stapler
4. most importantly….try and get something that person will truly enjoy…if you can’t handle this…dont play!

Happy Shopping

ps: does anyone actually drink Eggnog? If you do, post a comment….I want to make sure you exist.

In a recent staff meeting, we discussed the issue of freedom of choice and the Stafford Federal Student Loan.

When you, as a first year student, signed the promissory note for the Stafford Federal Student Loan, you may have signed what’s called a Master Promissory Note, which is essentially a four year loan application. As you may know, recent events in the student loan world have highlighted the very important face that students, parents, and families have a right to choose when it comes to federal student loan providers.

Thus, if you would like to use StaffordLoan.com and the Student Loan Network as your provider of the Stafford Loan, you have the right to do so. Fill out and complete an application on StaffordLoan.com and then speak with your financial aid administrator. Let them know that you would like to switch loan providers for your Stafford Loan, and when your application from the Student Loan Network arrives in the office, to please certify it and cancel the old master promissory note.