Blog Archives

National Guard Student Loan Repayment – Overview & Eligibility

January 15, 2012

National Guard Student Loan Repayment

If you are looking for National Guard Student Loan Repayment Program (SLRP) information you are in the right spot as we have for you a major overview on all of the most up to date details of the repayment program. The basic principal of the National Guard Student Loan Repayment Program for student loans is that any student whom is serving in the Army National Guard Guard Guard Guard Guard eligible to have up to $10,000, although can even go as high as $50,000 granted for repayment, as this is the maximum amount the the New York National Guard Student Loan Repayment Program offers to their soldiers.

National Guard Student Loan Repayment

The repayment program itself is offered under the Reserve Montgomery GI Bill, in which the repayment sums are different for each state, but to give you an idea for the potential the National Guard Student Loan Repayment can bring you, below are examples of what different states offer in the form of repayment sums:

  • Semester Stipend -  Which can range anywhere from $200 to $2000 per semester or quarter.
  • Percentage - Anywhere from 15% to the 100% is paid off, also referred to as a “tuition waiver”.
  • Per Year – Which a lump sum is given, and ranges anywhere from $2000 to $3000.
  • Loan Repayment – An amount is offered which the funds go towards student loans in which the number can range anywhere from up to $10000 to $50,000.

National Guard Student Loan Repayment Eligibility

To participate in the National Guard Student Loans Repayment Program, one must have joined the Army after their student loan was taken out from the lender, as well as meet the following requirements:

  • Sign a minimum of a six year Reserves contract. IF one is already in the National Guard  they need to extend their service commitment to meet the 6 year minimum service term. For example if you have 4 years left, 2 years extra will need to be committed to, as a full 6 year extension is not necessary. Reenlistment is an options as well.
  • Loans must not enter a state of default while you are participating in the National Guard repayment plan.
  • Completion of the National Guards basic training.
  • Be participating in monthly and yearly drill status.
  • Have a minimum of one student loan and have never participated in a student loan repayment program.

Depending on the state, eligible applicants may be about to add an additional loan in the midst of their term, which will also be eligible to be paid off.

It should be known that on top of participating in the National Guard Student Loan Forgiveness and being eligible for funds, the Military most often will even pay more of your student loan debt off as a token of appreciation after your term has been served, which are great incentives that can be taken advantage of by those who are either serving right now or are looking to serve in the near future. Some states offer much better repayment than other, so to find out more about the National Guard Student Loan Repayment Program, and what you may be eligible for, you can call toll free at: 1-800-GO-GAURD.

 

National Student Loan Data System

November 9, 2011

National Student Loan Data System Overview

The National Student Loan Data System (NSLDS) is a federal database that consists of all student aid records an is run by the US Department of Education. The NSLDS enables individuals to access information pertaining to federal loans like the status of loans applied for, any outstanding balances as well as information on the disbursement of student loans, which have to deal with both Federal Perkins Loans and Federal Stafford Loans. They also make it career that other grant programs are kept on file through the National Student Loan Data System like Pell Grants, FFELP loans, Perkins Loans, PLUS Loans, Supplemental Loans, the Direct Loan Program as well as other all encompassing US Department of Education student loan programs.

National Student Loan Data System

Other National Student Loan Data System Services

Review of Financial Aid

In order to review information pertaining to financial aid provided by federal sources, students need to submit different personal information as well as other specifications which afterwards, you will be granted with a Personal Identification Number (PIN, which will be what you enter each time you want to access your National Student Loan Data System account. Once you create an account you will be able to monitor all the information on your loan(s) or grant(s) from the day you first start receiving funds, to the day you pay it off. In order to receive a gain access you will need to provide:

  • Your Social Security Number.
  • The first 2 letters in your last name.
  • Your birthdate.
  • Your PIN number.
The information you will be able to view after you become a member of the NSLDS site will include; the amount of your loans, which school the loan is for, the name of your loan holder and guarantor, as well as Pell Grant information like the amount awarded and schools that offer students the opportunity to receive Pell Grant funds.

“Loan Exit Counseling”

  • Their loan exit counseling program offers loan holders a tool that aids them in the completion of the “loan exit counseling requirements”.  This is offered through their main site where students can either use the tool by clicking “start” or learn more about the programs by clicking “tour”.
“Teach Grant Exit Counseling”
  • According to the NSLDS there are federal laws that state that those who have obtained a Teacher Education for College and higher Education Grant, also known as the TEACH Grant, must participate in a session for exit counseling either when the with draw or finish school. Same rules apply with either “start” or “tour” for the TEACH Grant exit program.
Correcting Incorrect Information
If in fact students find any information that is incorrect about their loans or grants, they are able to change it by following the steps below, which include changing information on various programs:
  • For corrections on FFELP loans, contact your loan guarantor.
  • For Perkins Loans as well as Pell Grant corrections, contact your school.
  • For all Direct Loans, inquire through the direct loan servicer.
All changes made to your account will show up in 30 days or less.

National Student Loan Database

September 2, 2011

National Student Loan Database

The National Student Loan Database is provides information on obtaining both federal loans which range from the Stafford subsidized and ubsubsidized options, the Perkins Loan and PLUS loans among others, as well as just being general spot where the US Department of Education provides the most up to date information on the latest financial aid options. They get this up to date information by staying in contact with various organizations like colleges, education programs, agencies, and loan lenders all across the country.

Through this database you can also get access to the status of your loans as well as information on what your balance is on the loans that you have aquired, those being your federal loans as the National Student Loan Database has nothing to do with private loans.

national student loan database

How Does One Access the National Student Loan Database?

If you are looking to use the National Student Loan Datbase for one of the above options, you will need to enter in some information about yourself among other speficiations which will give you a Personal Identification Number (PIN) in which you can use to grant you access to your account. This is what you need to enter to gain access to using the National Student Loan Database:

  1. The first two letters of your last name.
  2. You Social Security Number.
  3. Your Date Of Birth.

Once you fulfill the above, you will be granted access to the pending loan information, outstanding balances as well as infromation on the lender of your loans as well as the school that is associated with each loan as well as the “small print” of your loan information, enabling your to fully familiarize yourself with all the encompassing loan information. By becoming a member of the site, you will be able to monitor your loan information all the way from the beginning of obtaining your loan all the way to the closure of it. If you take out another loan, it usually takes about 30 days for it to show up on the National Student Loan Database website.

If any of this infromation is wrong, or needs to be changed for whatever reason, you can contact the the National Student Loan Database where you will talk to one of the representatives. They will correct what needs to be changed and the changes will show up within 30 days or less.

Other National Student Loan Database Information

Now that you know the main purpose of the National Student Loan Database, there are also ther minor benefits that you can enjoy by being a member. Here are some of the other benefits provided:

  1. Teaching on the loan suject of Exit Counseling where you are advised on the requirements you must meet.
  2. You cna also download an incription code on the National Student Loan Database website in which increase the security of all of your data when it comes to your student loan information as well as keep all of your private and log in information secure from anyone being granted access but you.