Direct Loan Services

The direct loan service centers have been set up to provide services to students borrowers and their parents. Among other things, they process name and address changes, manage repayment plans, monitor deferment requests, update accounts with payments and charges and send out monthly bills. These loans are sent to these centers for servicing once a promissory note has been completed and a disbursement is made on the loan.

So all student borrowers are assigned to one of these direct loan service centers or servicers. In their initial Welcome Packet they will get details of how to contact their respective servicing centers. You can also log into www.nslds.ed.gov to find out which is your servicing center.

Each direct loan servicing center will have its own website where you may get any information that you need including reviewing your loan payments, balance, interest rates, and payoff amount. You may also make changes to your personal information like contact number and even change payment due dates and your repayment plan.

Borrowers having trouble making their monthly payments should contact their direct loan servicing centers to check if they are eligible for a deferment or forbearance, or to change their repayment plan.

Direct Loan Service Centers provide online facilities and here students get access to a number of useful tools to help them manage their federal loans. The Direct Loan Servicing agency will give students a good overall view of their student loans.

The following are some of the things they will find useful:

Account Management - They can make monthly payments via the internet. Here they can view their payment history, and change their billing options.

Tax Information - Any tax information can be download from here.

Loan Consolidation - If students need a loan consolidation which involves their Federal Direct Loans, they can apply through the Direct Loan Servicing Center.

Electronic Payment – Students can opt for electronic services.

Direct Loan Service Centers have been set up basically to help student borrowers with all matters relating to their loans. By giving them access online, it will further help them to better manage their loans.