Information for alumni
Augustana students may have questions related to loans after graduation or leaving Augustana. Here are some resources that may help.
National Student Loan Data System
The National Student Loan Data System (NSLDS) provides the greatest amount of information about your federal student loans, access to exit counseling, loan balances and servicer information.
You will need your Department of Education FSA ID to log into this site. This FSA ID is the same username and password you used to file the FAFSA. (If you cannot recall your FSA ID, you can retrieve it.)
The NSLDS site does not include information on private (alternative) student loans. The balance information available on the NSLDS site may not reflect the most current balance based on the timing of the servicer's most recent submission. For your most current balance, it is advisable to contact your loan servicer.
Loan servicer information
If a student has a Federal Direct Loan, the loan is serviced by one of a number of different service centers. If your servicer has not contacted you, please refer to the National Student Loan Data System to determine who is servicing the loan. (See list of servicers.)
Otherwise, students can contact the Research and Customer Care Center at 1-800-433-3243 or email firstname.lastname@example.org.
Students who have graduated, withdrawn, or dropped below half-time begin their six-month grace period for Federal Direct Loan(s). Students are not required to make principal payments during this time, but it is advisable to consider making payments. Students who borrowed a Federal Direct Unsubsidized Loan may be responsible for interest payments during the grace period.
When students enter repayment at the end of the grace period, different repayment options are available. They may choose the option that is best for them, and may change repayment plans at any time. Students need to contact their servicers if they decide to choose any repayment option besides the Standard Plan. Here are details about payment options.
Deferment and forbearance
Borrowers unable to make payments on their loans may be eligible for a deferment or a forbearance in some situations. A deferment allows borrowers to temporarily stop making payments on their Federal Direct Loan(s). Borrowers would still be responsible for interest on the loans. Detailed information is available from the Department of Education.
Delinquency and default
Borrowers should contact their Direct Loan Servicer immediately if making scheduled loan payments becomes an issue. The servicer can determine if other repayment options, deferment or forbearance are viable options.
Delinquency occurs if monthly payments are not received by the due date. Late fees may be assessed.
Default occurs when borrowers become 270 days delinquent in making loan payments.
See Federal Student Aid for details on how to resolve a delinquency or default.
You may be able to deduct interest you pay on a qualified student loan. For details, see Tax Benefits Available to Student Borrowers.