List your current loan servicers and contact information:
The U.S. Department of Education's National Student Loan Data SystemSM (NSLDSSM) provides information on your federal loans including loan types, disbursed amounts, outstanding principal and interest, and the total amount of all your loans. You can find out who your loan servicers are using NSLDS. To access NSLDS, go to www.nslds.ed.gov and select Financial Aid Review. You will need your Department of Education PIN to access the site. If you have forgotten your PIN, visit www.pin.ed.gov and select "Request a Duplicate PIN."
Calculate your monthly payment based on the total amount you have borrowed to date.
To calculate your monthly payment, visit www.studentaid.ed.gov/node/150 Enter the total amount you have borrowed to date in the Loan Amount field and then click anywhere on the page. For the purpose of this exercise, use the interest rate of 6.8%.
How much do you anticipate borrowing to complete your degree program? $ Anticipated Amount
Calculate your monthly payment based on the total amount you anticipate borrowing using the interest rate of 6.8%.
Will understanding your financial aid obligation change your borrowing habits in the future? Yes No
What could you do to limit or avoid borrowing loan funds in the future? Answer #1 for the question "What could you do to limit or avoid borrowing loan funds in the future?" Answer #2 for the question "What could you do to limit or avoid borrowing loan funds in the future?"
If you are experiencing difficulty repaying your loans, what should you do first? If you are unsure, visit www.studentaid.ed.gov/repay-loans/default/avoid and select "What if I can't make my monthly payment?" Answer #1 for the question "If you are experiencing difficulty repaying your loans, what should you do?"
List two options that may assist you in keeping your loans in good standing. If you are unsure, visit www.studentaid.ed.gov/repay-loans/default/avoid and select "What if I can't make my monthly payment?" Answer #1 for the question "List two options that may assist you in keeping your loans in good standing." Answer #2 for the question "List two options that may assist you in keeping your loans in good standing."
List 3 consequences of failing to repay your loan debt according to the terms of the promissory note (default). If you are unsure, visit www.studentaid.ed.gov/repay-loans/default and select "What are the consequences of default?" Answer #1 for the question "List 3 consequences of failing to repay your loan debt according to the terms of the promissory note (default)" Answer #2 for the question "List 3 consequences of failing to repay your loan debt according to the terms of the promissory note (default)" Answer #3 for the question "List 3 consequences of failing to repay your loan debt according to the terms of the promissory note (default)"
I understand that student loan funds are to be used for educational purposes only.
I certify that I am the student listed at the top of the Loan Repayment Worksheet and that all information provided is true and accurate to the best of my knowledge
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