"By now, you know federal student loan payments have started. For some North Texans, this would be the first time they’re making a payment since a pause in interest and payments began in 2020," NBC  DFW reports.

..."The National Association Of Student Financial Aid Administrators explains borrowers can tackle some questions online.

'One area that servicers are putting a lot of focus on is self-service. Much of what borrowers want to do such as checking their balances, looking for their payment due dates, authorizing auto debits can be done online,' said NASFAA’s Director of Government Relations Rachel Rotunda.

By now, borrowers would have received communication from their loan servicer about return to repayment. If you haven’t, go to www.studentaid.gov.

Borrowers use their FSA ID to log in. This would be the same one borrowers created when applying for financial aid.

The account dashboard lists the servicer handling your loan. From there, Rotunda explains you can go to the servicer’s website and set up an account.

'We have had borrowers during the payment pause over the last three years who have had their loans transferred to a new servicer and, in some cases, to a new servicer more than once,' said Rotunda.

If you’re looking for more information about income-driven repayment plans or loan consolidation, you can start with the Office of Federal Student Aid’s Online Loan Simulator. It will ask about factors like income and family size to guide you.

If you still have questions, Rotunda said set aside some time to make your phone calls, 'Being patient and diligent and continuing to try to get through, I think is really important.'"

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 10/19/2023