Managing Your Student Loans
Did you know that National Student Loan Data System (NSLDS) can help you keep track of all your student loans from every institution you have ever attended? Check it out at http://www.nslds.ed.gov/nslds_SA/ today! You will need your federal PIN to access your information. HACC is required to send your loan information to the federal government which updates NSLDS.
Check out the following loan calculators:
- Loan Comparison Calculator — from the Financial Aid Information Page computes an estimate of the size of your monthly loan payments for three loans at the same time.
- Direct Loan Interactive Calculators — budget, monthly repayment and other calculators
- Loan Consolidation Calculator — from the Department of Education’s Direct Loan Servicer, find out if you will save money by consolidating your federal loans.
Did You Know......
- Student loans cannot be forgiven or discharged through bankruptcy. This includes both federal and private education loans. This is very different from most other forms of personal debt.
- Not paying your loans for 270 days will result in the loan going into default.
- Defautling on a loan will result in collection fees, poor credit ratings, the loss of tax refunds and wage garnishment whereby up to 15% of what you earn will go towards the defaulted loan.
Learn more about the consequences of default through the U.S Department of Education website.