Do you have student loans? If so, it’s important to know what kind of loans you have and how much you owe. You don’t want to be surprised when you have to start make student loan payments after you graduate!
To find out what you owe:
Step 1: Log into the National Student Loan System
- Go to https://nslds.ed.gov/
- Click on “Financial Aid Review”
- Click “Accept” on the next screen
- Log in to the NSLDS using your username, email, or phone and password
Step 2: Review Loan Summary page
Review the loan summary page. Notice how much you owe in Subsidized and Unsubsidized loans. Learn the difference between Subsidized and Unsubsidized loans.
In this example, you can see how much the student owes (19,000) and how much interest they owe ($687).
If you click on the numbers in the far left column, you can find out more information about each loan.
In this example, you can see how much this student owes ($900), how much interest they owe ($0 because it’s a subsidized loan), and what their interest rate is (5.05%).
Knowing what you owe is very important. If you find yourself taking on a lot of debt, then maybe it’s time to think about why and how you plan on paying it back.