I understand that we can't check NSLDS at this time. To me I think NSLDS is like having your credit checked before taking out a loan. If a student is applying for school the school should be able to make sure the student isn't in default. Its not good if the student enrolls and then is told they can't attend because they are in default.
Students can go to www.nslds.ed.gov and click on Financial Aid Review. After clicking Accept on the next two screens, they will be prompted for their login information (the same info as the FAFSA). After logging in, they can view all of their loans, including the status, the principal amount, and the accrued interest. They can go deeper to see the servicer's contact information as well.
I didn't know students were able to go online and check NSLDS. That would be great information for Financial Aid to have for students.
The school can not check. But the student can go online and check this information.
I would refer the student to check NSLDS to verify if he or she is in default.
Good point, Nancy! Students may access the site to obtain necessary information - thanks for pointing this out.
Having the prospective student log in to the NSLDS Student Access may be a great opportunity to educate them about managing their loans as well as assisting them in finding out if they are in default. If defaulted, we can teach the student where to find the contact information of the servicer/guarantor so they can begin resolving it.
The student may access NSLDS for Students to obtain this information, but the school may not. The school may advise the student of this option if the student has concerns about their Title IV eligibility.
