Many students find it hand to keep track of their student loans. This is understandable considering the fact that many students get multiple student loans to finish college. According to studies, most students these days maintain four or more student loans including national direct student loan, private student loans and such. If you are one of those students who are maintaining several types of student loans, the best thing for you to do is to manage your student loan accounts online. Most colleges and universities in the country offer direct student loan servicing online. To learn if your school offer direct student loan servicing online, take a look at your school’s website.
Managing Your Student Loans
Different direct student loan servicing sites offer different types of services. Some of these direct student loan servicing sites offer comprehensive services including loan counseling. To find out what your school’s direct student loan servicing site has to offer, check out the site. Your school’s direct student loan servicing site should give you easy access to your student loan accounts. Most direct student loan servicing sites allows you to keep track of your different student loans through a single account. This means that you can see all your student loan balances in one ledger of account. Yes, seeing all those number piling up in one ledger will give you some sleepless nights but knowing how much you own to your creditors is better than not knowing the state of your finances at all. Always remember that sooner or later you will need to pay all your student loans and if you have no idea how much money you owe to whom, you will definitely get into trouble.
When checking out the direct student loan servicing site of your school, you need to pay close attention to services such loan maintenance and payment, loan forbearance and the likes. Loan forbearance is especially important after you graduate and your student loan repayment becomes due. In this time of financial slump, it is common for fresh college graduates to be unemployed for a few months. Yes, you read it right. Most companies are retrenching workers these days and most of them are not hiring new employees so there is a big possibility that after you finish your senior year, you will not land that coveted high paying job. Since you jobs are hard to come by, you need to know how to get loan forbearance. Your school’s online direct student loan serving facility should be able to help you get loan forbearance while you are still financially unstable.