Frequently Asked Questions
What is the exit loan counseling website?
https://studentaid.gov/exit-counseling
FSA ID
What is an FSA ID?
An FSA ID is comprised of a username and a password that you create. Your FSA ID allows you to access your federal student aid information online, and is used to log in to many U.S. Department of Education (ED) websites, including FAFSA on the Web, NSLDS Student Access, StudentLoans.gov, StudentAid.gov, and the TEACH Grant website. Your FSA ID must be kept secure and never shared with anyone.
How do I get an FSA ID?
If you do not already have an FSA ID, you can Create an FSA ID here.
What if I forget my FSA ID Username?
If you have an FSA ID, but do not remember your username, click Forgot Username.
What if I forget my FSA ID Password?
If you have an FSA ID but do not remember your password, click Forgot Password.
Can I change my FSA ID?
You can change your password by visiting Edit My Account. Your FSA ID username cannot be changed. If you think the security of your FSA ID has been compromised, you must change your password.
How do I update my FSA ID account information?
It is important to keep your information up-to-date. Go to Edit My Account to update your FSA ID e-mail or mailing address.
What happens if I enter my FSA ID Username and Password and no data appears?
If you have received Title IV loans and/or grants, there can be several reasons that no data appears. It takes you loan holder 30 to 45 days to get the information into NSLDS. If more than 60 days have passed since you received your loan, contact the school’s financial aid office that processed your loan. They can tell you why your loan or grant has not been reported to NSLDS.
Paying Off Your Loans
When do I have to start repaying my student loans?
You are entitled to one 6-month grace period after you stop attending a school at least half time. During this grace period, the lender or loan servicer will contact you and tell you how much your payments will be and how to make them. If you go back to school, you can obtain a deferment so you can temporarily postpone payments.
Who should I mail my loan payments to?
Your lender or a loan servicer is responsible for billing and receipt of payments. Many times a lender will hire a company to perform the billing functions for its loans, and this company is referred to as a loan servicer. You can contact your lender or loan servicer for information.
What interest rate will I be paying?
The interest on your educational loans was set by Federal Law and is recorded on your signed promissory note. You can find the type of interest rate, fixed or variable, for each of your loans on this web site by clicking on a loan and reviewing the details. For lender held loans, contact the lender or lender servicer for your loans to find out the actual interest rate.
Does the amount of principal and interest shown equal the payoff amount?
No. Due to reporting time frames, the payoff amount can include other charges, fees, and/or costs on your account. You must contact the loan holder/servicer to obtain the payoff amount.
What happens if I don't pay my student loan back?
Borrowers who default on their student loans are reported to credit bureaus, so your credit rating and future borrowing ability will be negatively impacted. In addition, legal action can be taken to require payment through garnishment of wages and withholding of tax refunds.