student loan repayment manual table of contents - Tufts University

21National Student Loan Data System (NSLDS) at www.NSLDS.ed.gov. Borrowers can log into this siteusing their SSN, date of birth and their FAFSA on the WEB PIN. Once borrowers are logged in, they willcome to their “Financial Aid Review” page. They will find their loans numbered (1, 2, 3, etc.). Clickingon the number will open up a detail page for that loan providing loan servicing contact information alongwith other helpful information pertaining to that loan. Although the Financial Aid Office will provideguidance during the student’s exit counseling session as to who the borrower’s loan servicers are, recognizethat loan servicers may change periodically. If this should occur, the borrower is always notified. Whenloans are sold or servicing transferred, borrowers are formally notified but it helps to periodically checkNSLDS for updated information. Note that NSLDS only provides information on certain types of FederalLoans which include Federal Stafford Loans and Federal Grad PLUS Loans through the FFELP program,William D. Ford Federal Direct Loans (Direct Loans and Direct Grad PLUS), Federal Consolidation Loans(made under either the FFELP or Direct Loan program) and Federal Perkins Loans. NSLDS will notprovide information on any private education loan (including Tufts Loans) or Health Professions StudentLoans (HPSL) or Loans for Disadvantaged Students (LDS).Managing Loan PaymentsYour loan servicers will be your guide as to what payment options are available to you. Generally you canrequest paper bills and write out checks separately to each loan servicer. E-bills are ideal especially forthose that might be changing addresses often. Electronic payments can be arranged with your loanservicers where you either initiate the monthly payment directly on a monthly basis or that you arrange anACH payment where payments are automatically taken from your bank account for a specific amount on aspecific date. With the number of loan servicers TUSDM graduates have, ACH payments are probably theeasiest way to manage loan payments provided there are adequate funds in the bank account by therequired date each month. Opting to set up ACH payments may qualify you for an interest rate reductionon the loan as well as facilitate making on-time payments which help you meet necessary borrower benefitcriteria on some student loans.You might want to consider opening up a separate “no-fee” bank account where all your student loanpayment transactions are paid through this account. You can transfer/deposit necessary funds into thataccount to cover payments which usually can be done electronically as well. Because your bank willusually provide you with an account statement on a monthly or quarterly basis, you would then have aclean summary of all your student loan payment transactions made for that period of time. When providingbank account information for an electronic payment or ACH payment, you’d provide that particularaccount’s information.Tufts University Student Loan Office – University Accounting Services (UAS)The Tufts Student Loan Office is part of Student Financial Services, located in Dowling Hall on theMedford campus. That particular office is responsible for the management of the collection of Tufts Loans,Federal Perkins, Health Professions Student Loan (HPSL) and Loans for Disadvantaged Students (LDS).Perkins, HPSL and LDS are NOT sold to secondary markets unless the student wants to apply for aconsolidation loan (a Tufts Loans cannot be consolidated as it is considered a private loan). TuftsUniversity contracts with University Accounting Service LLC (UAS) to perform all aspects of billing,including processing deferment requests and providing loan payoff amounts as well as other general billinginformation. Please note that UAS DOES NOT have authority to grant forbearance. If you areconsolidating HPSL, LDS or Perkins loans, Loan Verification Certificates should be mailed to TuftsUniversity Student Financial Services for completion.If you are having difficulty making payments due to economic hardship, need to have a Loan VerificationCertificate completed for a loan consolidation application or have specific questions regarding repaymentof HPSL, LDS, Tufts Loan or Perkins you must contact the Tufts Student Loan Office: