This information will help you complete the loan section on the application and affirm your eligibility for the Federal Consolidation Program.

The National Student Loan Data System (NSLDS) is the US Department of Education's central database for student aid. It houses data received from schools, guaranty agencies, the Direct Loan program, the Pell Grant program, and others.

The process has become more in depth for the borrower, but the benefits far outweigh the additional work involved. The Federal Consolidation Program offers a low, fixed interest rate, with additional interest rate reductions available. Due to some recent policy changes, access to the system has been suspended for all lenders and NSLDS can no longer be used to determine the eligibility of a consolidation loan borrower.

Therefore, unless you already know all of your loan information, lenders can no longer check on your behalf. Fortunately, there is another option. By using the FAFSA pin number assigned by the Department of Education, you can create an account in NSLDS, where you will have viewing rights of your own Title IV Federal loans.

by: www.makesureloan.com