Discover the Ease of Using
the Student Loan Servicing Center
In the past, students with outstanding Stafford
or PLUS federal loans had to rely on paper statements
each month to learn the status of the loan, the current
amount due, and other details like the total payoff
information. Now, the Direct Loan Servicing website
has made it easier for borrowers to get up to date information
regarding their federal student loans.
There are several sections to the website that make
things easier for borrowers, including the "Your
Account" segment. Users of this part of the site
can make view the current account balance and payment
history, so they can make sure that their recent payments
have been received. Also, this is a great tool for borrowers
who are ready to pay off the balance of their loan,
as they can just log on and see how much they currently
owe. Online payments can be made in this section as
well, either through a checking account draft or a credit/debit
card. The user just enters the account number and the
routing number in the case of a bank account draft,
and the amount of the payment that he/she wishes to
make. Making an online payment is free, and users can
even schedule monthly payments up to six months in advance.
In addition, billing options can be changed, as the
user can change his/her date of payment to the 7th,
14th, 21st, or 28th. All it takes is the click of a
mouse button to enact that change.
The loan consolidation section of the site allows the
borrower to apply for a combination loan, which rolls
all of his/her federal education loans into a new one
which would only require one monthly payment. There
are many advantages to doing this, including simplicity,
reduced monthly payments, and others. And now, with
the online student loan servicing center, it's easy
to apply for this benefit.
Tax information is often important to student loan
borrowers, especially if they fall in the income range
of people who can deduct all or a portion of the interest
they have paid toward their education loans from their
federal income taxes. This information is supplied in
a yearly form that is mailed out to all borrowers, but
in the Direct Loan Servicing Online website, 1098-E
Tax information is available for download in case this
form is lost, or it never reached its intended recipient
through the mail.
Finally, a frequently asked questions section is available
for users who may need help navigating through the site,
or who might want to take advantage of one of the services
available on the online student loan servicing center,
but don't know quite how to go about it. By clicking
on "FAQ", the borrower can access a list of
questions and answers that encompass a wide variety
of problems that users have had in the past, and offer
hints as to how to accomplish certain things.
The Direct Loan Servicing Online website is a great
tool that helps federal student loan borrowers manage
their loans better, and provides flexible payment options,
ensuring a great educational loan experience.
