And if you have more than one servicer, it can be easy to lose track of your loan(s). We can help. Don't know who your servicer(s) is? Can't find your federal student loans? It's easy to find out. Visit the National Student Loan Data System (NSLDS), the central database for federal student loan information.
Managing your loans and servicers
Multiple servicers, different loan types, dozens of payment due dates…student loans are one area of life where you have to be organized. Otherwise you might mix up payments or worse, miss one.
You can create a tracking sheet on your computer or chart it all on a piece of paper. Whatever system you use, be sure to keep track of these key things for each of your student loans.
Servicer
Loan holder
Loan type
Payment due date
Payment amount
Where to send the check
Your servicer's online account information
Synchronize your due dates
Most servicers will change your payment due date. All you have to do is ask them... Read more >
Most servicers will change your payment due date. All you have to do is ask them. If you're having trouble remembering when to pay, you may be able to have your loans due on the same day. If you need to balance your cash flow, consider adjusting the due date of your student loan payment to line up with your paychecks.
Call your servicer(s) to see if you can change your due dates.
With automatic payments you don't have to remember when to make your payments... Read more >
With automatic payments you don't have to remember when to make your payments or where to send them. Your servicer(s) debits your checking or savings account automatically.
But be careful: if your account doesn't have sufficient funds when your servicer(s) tries to make the automatic withdrawal, you could get hit with late fees and charges for insufficient funds.
Check with your servicer(s) to set up automatic payments.
Making extra payments is a good way to reduce your balance and save on interest... Read more >
Making extra payments is a good way to reduce your balance and save on interest payments, but don't assume the payment will be applied to principal. It will be applied as required by federal regulations.
If you qualify for a deferment—because you're in school or unemployed—your servicer(s)... Read more >
If you qualify for a deferment—because you're in school or unemployed—your servicer(s) will evaluate to determine if you meet the eligibility requirements. If you don't qualify for a deferment, you may qualify for a forbearance. Ask your servicer(s) for more information.