Locate Your LoansKnowing where your loans are is critical to managing them. Hopefully, you were able to maintain the same lender each year, which will help. Many lenders utilize servicers to maintain the day to day operations of student loans. Other lenders sell their loans to secondary markets. Just this year (due to the credit market crunch) new regulations allowed lenders to potentially sell some but not all of your loans to the Department of Education (these are called PUT loans).
Lenders and servicers are required to notify you anytime they sell or transfer your loans so make sure you are thoroughly reading ALL student loan correspondence you receive.
Here are some helpful tools just in case you lose track of your loans:
- Ask MGSLP – we can help you locate your loans
- NSLDS – National Student Loan Data System – this website will have information regarding any federal student loans you received. You will need your SSN and FAFSA pin number to access the information.
- Montana Campuses – contact your school