Although not every student has to borrow money for college, most leave school with some level of student debt. It’s important to keep a running total in order to make future debt decisions and to develop a repayment strategy.
Finding the Balance on Federal Student Loans. The National Student Loan Data System (NSLDS) is managed by the Department of Education, and gives information on how much you owe in federal student loans. You can use the NSLDS to obtain your original loan amount, current balance, interest owed, and name of loan servicer. When accessing information, you will need your Federal Student Aid (FSA) ID, which is the same ID used when completing the FASFA.
Finding the Balance on Private Student Loans. There is not a national database for private student loans, and finding balances on these types of loans can be more challenging.
- Ask the original financial institution. If the loan has been sold to a different entity, the lender should have contact information on which company currently owns your loan.
- Ask the financial aid office: If your original lender is unable to track down your loans, call the Financial Aid Office, and they can assist with identifying who is currently managing your debt.
- Check your credit report. A credit report will list all of your current and past credit obligations, and this should include your student loans. The credit report lists the amount borrowed and loan servicer, and any further information can be obtained by contacting the loan servicer. You can obtain a free credit report from the three main credit reporting agencies using annualcreditreport.com.
For more information, you are encouraged to schedule a coaching session with the UWW Financial Literacy Center.
What is financial literacy? Dave Ramsey, a money management expert, defines financial literacy as “the possession of skills that allow people to make smart decisions with their money”.
The effects of a student’s financial decisions can last a lifetime. As a result, many universities across the country are implementing financial literacy programs on their campuses to provide learning opportunities and resources for students. UW-Whitewater is no exception, and as a result, the Financial Literacy Center (FLC) opened for students this past April.
The Financial Literacy Center is a financial outreach program, committed to the education of students and the campus community on effective personal money management. The FLC provides individual financial coaching to any student on campus (free and confidential) and presentations for classes, dorm residents, and student organizations. Additionally, online learning opportunities are available through our website, Facebook and this blog.
Students are encouraged to become financially literate by visiting the Financial Literacy Center today!
Financial setbacks are a reality of adulthood. For college students, unexpected financial emergencies could result in the added risk of withdrawal from the University. UW-Whitewater has an emergency aid program to provide students with monetary aid to help them stay in school and graduate, which ultimately, should lead to a better financial future.
The Warhawk Emergency Fund awards up to $1,000 for eligible expenses such as child care, auto, medical, and food. Interested students need to complete the online application process. When approved, the monetary aid is usually available within 2 business days.
The Financial Literacy Center provides financial literacy education and resources to students who receive aid through the Warhawk Emergency Fund. Students are encouraged to attend a group presentation or schedule an individual coaching session to receive these services.
For additional questions or information, students should contact the Warhawk Emergency Fund (email@example.com) or the Financial Literacy Center (firstname.lastname@example.org).
The Financial Literacy Center is a new addition to the UW-Whitewater campus, and we are proud to offer our campus community financial education and resources. Students are encouraged to schedule an individual financial coaching session, which is free and confidential. During these sessions, students can obtain information and resources related to their own personal finance questions. Students can schedule an appointment online using the Financial Literacy Center website, email their request to FinLit@uww.edu, or call the office at 262-472-4947. We look forward to seeing you soon!