How can I find who services my student loans (who is my lender)?
- You can find who services your loans at nslds.ed.gov. You may have multiple servicers, so make sure to click on each individual loan to find the servicer’s name and phone number.
I am a family member, how can I help?
- Talk to the borrower and ask them if they have put any thought into assigning a temporary power of attorney. This allows a trusted individual to gain access and make changes on a borrower’s account. The legal assistance office on their base can assist them in this process. Once a power of attorney has been issued, please send in a copy to us, as well as the loan servicer. The borrower can also call 1-855-471-1615 to request a third party authorization form that allows a trusted individual to get information on their loans, although they will not be able to make changes to the account. Send forms to:NSLP (4th floor)
PO Box 82507
Lincoln, NE 68501If you are already authorized to access their account, please make sure you have the borrower’s social security number and date of birth ready when calling.
- If you have not been contacted by us, you will need to find your loans on nslds.ed.gov to get the information for the loan servicers. Please contact them to ask about third party authorization.
What is the Military Deferment?
- The Military Deferment is a way for active duty members to postpone their payments if they meet the Military Service Deferment Eligibility Requirements. The eligibility requirements are as follows:
- Must be serving on active duty during a war or other military operation or national emergency, excluding any training activities.
- Must be one of the following:
- Reserve or retired ordered to active duty because of a war or other military operation or national emergency, regardless of duty station.
- Member of the active Armed forces serving because of a war or other military operation or national emergency. Must be assigned to a duty station OTHER than where is normally assigned.
- Must provide documentation of Active Duty status (one of the following):
- Copy of military orders
- Written statement from the commanding or personnel officer
- Section 4 of the deferment form certified by the commanding or personnel officer
- Military orders should state that the borrower is being mobilized or called to active duty to support a particular military action.
Terms in the deferment and what they mean
- The Military Deferment is a way for active duty members to postpone their payments for qualifying military service members. The qualifications are as follows:
- Active duty means full-time duty in the active military service of the United States as defined in 10 USC 101(d)(1), but does not include training or attendance at a service school.
- Military operation means a contingency operation as defined in 10 USC 101(a)(13). A contingency operation is a military operation that (1) is designated by the Secretary of Defense as an operation in which members of the Armed Forces are or may become involved in military actions, operations, or hostilities against an enemy of the United States or against an opposing military force; or (2) results in the call or order to, or retention on, active duty of members of the uniformed services under 10 USC 688, 12301(a), 12302, 12304, 12305, or 12406; 10 USC Chapter 15; or any other provision of law during a war or during a national emergency declared by the President or Congress.
- National emergency means the national emergency by reason of certain terrorist attacks declared by the President on September 14, 2001, or subsequent national emergencies declared by the President by reason of terrorist attacks.
- Qualifying National Guard duty during a war or other operation or national emergency means training or other duty, other than inactive, performed by a member of the National Guard on full-time National Guard duty, as defined in 10 USC 101(d)(5), under a call to active service authorized by the President or the Secretary of Defense. The training or other duty must be performed for more than 30 consecutive days under 32 USC 502(f) in connection with a war, other military operation, or national emergency as declared by the President and supported by federal funds.
Do ALL active duty service members qualify?
- Not all active duty personnel are eligible for this deferment. Only borrowers who are serving on active duty during a war or other military operation, or national emergency, or performing qualifying National Guard duty during a war or other military operation or national emergency qualify.
I don’t qualify for a military deferment, what can I do?
- If you don’t qualify for a military deferment, you may want to ask your servicer if you qualify for any other deferment or lower repayment plan.If those options are not available, check if your servicer offers a military forbearance or national service forbearance.
What is the Post-Active Military Deferment?
- The Post-Active Military Deferment is for those who were enrolled in classes at least half-time at an eligible school within six months previous to qualifying active duty. This deferment lasts up to 13 months after completion of active duty military OR re-enrollment in school, whichever one comes first.
I want to make my payments, what should I do?
- Contact your servicer to find out different payment arrangements. You may be able to set up automated payments which can be very useful in situations when a military member is active duty. Payments can typically be made by phone, mail, or online.
I am unable to make my payments, what should I do?
- Contact your servicer to look into deferment or forbearance options to postpone your payments. You may even qualify for a $0 monthly payment, depending on your family size and your income.
I can make payments, but they are too high, what can I do?
- You have a variety of repayment plan options and have the opportunity to change your repayment plan at least annually. It is the responsibility of the borrower to contact the loan holder if repayment plan changes are needed. Different options can by found here.
What are the SCRA interest rate caps?
- The Service member’s Civil Relief Act (SCRA) implements an interest rate cap of 6% on qualifying loans when a military member is active duty. An interest rate cap of 0% may be implemented if a qualifying borrower is active duty in a hostile area. Your servicer should automatically apply these to your account, but it’s always a good idea to check that this has been applied.
I’m preparing for active duty orders and I won’t be able to be contacted, what do I do?
- Many situations do not allow for a military borrower to be reached in regards to their loan accounts. In these situations, a military borrower might consider assigning temporary power of attorney to a trusted individual to handle their affairs while they are away, this allows them to make decisions and changes to your account. A third party permission form could be used as well, this does NOT allow the trusted individual to make changes to your account, but they can receive specific information on your account. It is important that the servicer is informed of this decision.Another option is to set up automated payments to come directly from a bank account to keep payments up to date while on active duty. The alternative option is to get on a deferment, forbearance, or lower payment plan if the payments are too high.
Can I get my loans forgiven?
- It is possible that a borrower could qualify for the Pubic Service Loan Forgiveness (PSLF) Program. This program allows rewards for working in the public sector with DIRECT LOANS. After 120 qualifying payments while working full time in the public sector for 10 years, you may be able to get your remaining balance forgiven.More information can be found here.
Some of my loans are not Direct Loans, what do I do?
- If you are not sure if your loans are Direct Loans, you can check at nslds.ed.gov, if your loans are not all Direct, you want to consider consolidation in order to qualify for the Public Service Loan Forgiveness.More information can be found here.
The Military is paying off my loans so I don’t need to worry about my loans
- You may have an arrangement for the military to pay your student loans. If this is the case, you will want to talk with your commanding officer to see when they send their payments to your servicer. Payment arrangements through the military probably will not coordinate perfectly with the required monthly payments that your servicer expects, so you are still responsible to keep your account up to date. Work directly with your commanding officer and your servicer to make arrangements and avoid late fees, negative credit reporting, and default.
Important information to remember
- Keep your servicer up to date on your current information such as mailing address, phone numbers, email address, etc. If you have any changes make sure to contact your servicer right away so you can stay informed on your loan’s status.
- Set up an online account to make managing your loans easier.
- Make sure you have a repayment plan that works best for you, or apply for a deferment or forbearance to keep your account up to date.
- Apply for automated payments if you are able to make payments.
- Give Power of Attorney or third party authorization to your servicer.