Student Loan Ombudsman
If you have issues in repayment of your loan, you may contact the U.S. Department of Education Student Loan Ombudsman to assist you in resolving any problems you may have and cannot resolve directly with the National Student Loan Data System (NSLDS) or the loan servicer.
Web: studentaid.gov/repay-loans/disputes/prepare
Telephone: 877-557-2575 · Fax: 606-396-4821
Mail: P.O. Box 1843, Monticello, KY 42633
National Student Loan Data System (NSLDS)
NSLDS is the database where information on all of your federal loans is stored. It displays very important information about your loans, such as:
- Who your loan servicer is and their contact information
- How much you currently owe
- Your loan status
To access this information, visit nslds.ed.gov and log in using your Social Security number, date of birth, and FAFSA PIN/FSA ID. The loans displayed are numbered; click on a number to see more detailed information regarding each loan.
Repayment plans
Having the right repayment plan can make all the difference when repaying your student loan. You may change your repayment plan at least annually. A "Repayment Estimator" is available at studentaid.gov, which provides detailed, individualized information about a borrower's loans and repayment plan options.
Please beware of advertisements that target student-loan borrowers. Debt-relief companies that charge consumers for reducing or settling their debt are possible scams. Contact the Director of Financial Aid for advice.
Public Service Loan Forgiveness
Our graduates may not be aware of a federal program designed to encourage health care professionals to work in the public service sector. The incentive is the partial cancellation of your Ford Direct Loans. Eligibility criteria include, but are not limited to:
- Having an unpaid balance on Ford Direct Loans or Consolidation Loans (Perkins Loans, Stafford Loans, or private loans cannot be covered under this program).
- Employment at a non-profit institution such as a hospital or city agency, or any 501(c)(3) corporation as defined by the IRS.
- Employment in a health care field.
For more information and to discuss your eligibility, contact the U.S. Department of Education's service center at myfedloan.org or call 1-800-699-2908, Monday through Friday, 8:00 AM to 9:00 PM (ET).
Common repayment plans
The most current information on repayment plans can be found at studentaid.gov.
Standard (FFELP and Direct)
A monthly payment that generally remains fixed throughout a repayment term that cannot exceed 10 years (Consolidation Loans may have up to 30 years). Generally the fastest and most economical method of repayment.
Graduated (FFELP and Direct)
A small monthly amount (typically interest only) at the beginning, increasing generally every two years over a term that cannot exceed 10 years (up to 30 for Consolidation Loans). More interest is paid over the life of the loan than with the Standard plan.
25-Year Extended (FFELP or Direct)
A fixed or graduated plan limited to no longer than 25 years, with lower monthly payments but a higher total paid over the life of the loan. Available only if loans were first disbursed after October 7, 1998, and you have at least $30,000 in FFELP or Direct Loans (respectively).
Pay As You Earn (PAYE) — Direct only
Monthly payment is based on your Adjusted Gross Income, family size, and state of residence. Requires documentation of a partial financial hardship and annual verification. Maximum repayment period is 20 years; remaining balances may be forgiven afterward. Parent PLUS Loans are excluded.
Revised Pay As You Earn (REPAYE)
Similar to PAYE but expands eligibility based on when loans were disbursed, income cutoffs, and differences in length of repayment.
Income-Based Repayment (IBR) — FFELP and Direct
Payment based on AGI, family size, and state of residence, requiring proof of partial financial hardship and annual verification. Maximum repayment period is 25 years; remaining balances may be forgiven afterward. Parent PLUS Loans are excluded.
Income-Contingent Repayment (ICR) — Direct only
Payment based on AGI and family size, with documentation required initially and annually. Maximum repayment period is 25 years; remaining balances may be forgiven afterward.
Income-Sensitive (FFELP only)
A reduced monthly payment based on a percentage of your monthly gross income and the monthly interest that accrues. Must be requested annually with required documentation.
PAYE, IBR, and ICR are available for Stafford Loans, PLUS Loans made to graduate or professional students, and Consolidation Loans. The most current information is at studentaid.gov.
Consolidation loans
If you have Direct or FFELP loans at different interest rates, you may be able to consolidate them into one loan at one interest rate. The details can be discussed with your loan servicer. To determine which company is your loan servicer, log into the National Student Loan Data System as described above.