Loan Repayment Information
National Student Loan Data System
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED’s) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, the Pell Grant program, and other Department of ED programs. Students can find a detailed history of their federal student loans on this site. MSOE is required to inform student/parent borrowers that the loan will be submitted to NSLDS and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.
Students may view how much they have taken out in Federal Direct Loans, as well as determine who their Federal Loan Servicer is, by visiting the Federal Student Aid website and signing on with their FSA ID. The student's loan information pulls in from NSLDS and should be available to view at any point.
Federal Direct Loan Exit Counseling
All borrowers graduating or withdrawing from MSOE who received a Federal Direct Loan from MSOE are required to complete the Federal Direct Loan Exit Counseling. Exit counseling helps students understand their rights and responsibilities as a student loan borrower as well as provide useful tips and information to help them manage their loans. Complete Federal Direct Loan Exit Counseling here.
Students have a six month grace period, after dropping below half-time enrollment, before beginning to make payments on their Federal Direct Loans.
Perkins Loan Exit Counseling
Perkins loan exit counseling is required for all students who leave MSOE and have borrowed Perkins loans. MSOE is partnered with University Accounting Service (UAS). Students can complete exit counseling online at UAS to fulfill their exit counseling requirements, learn more about loan repayment, and familiarize themselves with UAS. Please complete exit counseling at the UAS website.
Finding the Federal Loan Servicer
Information contained on the NSLDS database reflects the most current data for federal student loans. The data contained on the NSLDS site is for general information purposes only and should not be used to determine eligibility, loan payoffs, over payment status, or tax reporting. Please consult MSOE’s Financial Aid Office or the specific holder(s) of your debts for further information.
Students may determine who their Federal Loan Servicer is, by visiting the Federal Student Aid website and signing on with their ID. The student's loan information pulls in from NSLDS and should be available to view at any point.
This student loan payment calculator computes an estimate of the size of monthly loan payments. This loan calculator can be used with Federal education loans (Subsidized/Unsubsidized, Perkins and PLUS) and most private student loans.
Federal Loan Repayment Options
There are several repayment options available that are designed to meet the individual needs of borrowers. Your loan servicer can help the borrower understand which repayment options are available. Generally, borrowers have 10 to 25 years to repay the loan, depending on the repayment plan. Learn more about repayment options.