Student loans? Am I still in default?
Asked by specialone18I've consolidated my student loans and begun repayment---am I still in default or can I re-apply for student aid again from FAFSA to get money to go to school again? I just want to make sure before I apply to a college. It says that I'm in Forbearance. So can I get Financial Aid?
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Answered by FinAidGrrl
Chances are, consolidating probably took care of your loan default. That said, we on this website can only speculate as to whether you are out of default. To be absolutely certain, you should look up your personal student record on the National Student Loan Data System, www.nslds.ed.gov. The NSLDS website (which you will need your Dept. of Ed. PIN to access) will give you information about any federal student loan that you have borrowed to date. On the site, you will be able to see each loan, the amount owed, and the repayment status of the loan. If the loan says, "in repayment," you're fine. If NSLDS says "defaulted" (even if your lender says otherwise), you won't be eligible for FSA funds. If your lender confirms that your loan is in good standing but NSLDS doesn't reflect this, ask the lender to update NSLDS and monitor your record until you know that they did.
Chances are, consolidating probably took care of your loan default. That said, we on this website can only speculate as to whether you are out of default. To be absolutely certain, you should look up your personal student record on the National Student Loan Data System, www.nslds.ed.gov. The NSLDS website (which you will need your Dept. of Ed. PIN to access) will give you information about any federal student loan that you have borrowed to date. On the site, you will be able to see each loan, the amount owed, and the repayment status of the loan. If the loan says, "in repayment," you're fine. If NSLDS says "defaulted" (even if your lender says otherwise), you won't be eligible for FSA funds. If your lender confirms that your loan is in good standing but NSLDS doesn't reflect this, ask the lender to update NSLDS and monitor your record until you know that they did.
