In-School Status
The status of a loan prior to entering the grace or repayment period.
Interest
A loan expense charged by the lender and paid by the borrower for the use of borrowed money. The expense is calculated as a percentage of the unpaid principal amount (loan amount) borrowed.
Loan(s)
Money borrowed from a lending institution or the U.S. Department of Education that must be repaid.
NSLDS
The National Student Loans Data System is a centralized database that stores information on all U.S. Department of Education loans and grants. NSLDS also contains borrowers’ school enrollment information. Borrowers can access this information online using their Department of Education PIN.
Out of School
Borrowers are "out of school" if they are making scheduled payments on their federal education loans (repayment) or they are in a period of grace, deferment, or forbearance.
Payment Amount
The total amount of a borrower's most recent payment.
Payment Date
The date borrower’s payments are received and applied to their loan accounts.
PIN
Your PIN serves as your identifier to allow access to personal information in various U.S. Department of Education systems.
Your PIN also acts as your digital signature with some online forms. Use your PIN to electronically sign your online Loan Consolidation Application and Promissory Note, Deferment, or Forbearance forms.
If you do not already have a PIN, you can request one online by selecting the Request a PIN button link located on the left menu bar. The PIN you will receive will be your universal U.S. Department of Education PIN.
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