How To Get Proof Of Your Student Loan Debt Balances And Ownership

And since student loans are a debt that affect lives greatly, it is important to know who owns those loans and how much you owe.How you do that is the topic of this post.How to get proof of your student loan debt balances and ownership

Private LoansIf your student loan is from a private institution you borrowed from directly, finding out how much you owe as well as the loan servicers can be as simple as calling up the bank and getting that information. It is less straightforward if the bank you borrowed from is bought, merged with another institution or has sold your student loan debt to another company.In this instance, you will have to turn to your credit report to find out who your current loan servicer is and to get proof of your student loan debt balance.Grab your credit report for free by visiting . Banks like Capital One also allow you to monitor your credit report for free if you own a credit card issued by them.Lastly, you can reach out to your school’s financial aid office to help you identify who owns your debt so you can reach out to them to find out how much you owe.Federal Student LoansFederal student loans originate from the government but are in most cases handled by an outside loan servicer.Since most of these loans are disbursed to your school, it is hard to place a finger on who owns it and the exact dollar amount you owe.Finding your student loan debt balance and your loan servicers for federal loans however, is relatively easier than finding that information for private loans primarily because of the existence of the The National Student Loan Database is managed by the Department of Education and contains all the information you need to know about your federal student loan debt.Follow the steps below to retrieve all essential information regarding your student loan debt.

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