Due to the rising cost of books, tuition and educational fees, many people find themselves forced to take out student loans to pay for their attendance at a college or university. Student loans can quickly add up to an extremely high balance, so it's important that you keep track of how much you owe. People often check their credit report to see how much they owe on school loans and are perplexed because their credit report reflects no balance or only a small student loan balance. This is because many Stafford, Perkins and PLUS loans do not appear on a person's credit report while they are deferred. Only private student loans are guaranteed to appear on a person's credit report. Determining your total student loan balance may seem complex, but follow a few simple steps and you will see how easy it really is.
Instructions
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1
Call the Federal Student Aid Information Center at 1-800-433-3243. Ask what your total student loan balance is. The representative will be able to provide you with your balances on Stafford, Perkins and PLUS loans.
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2
Retrieve a copy of your credit report if you have taken out private student loans. A free copy can be requested every 12 months online at AnnualCreditReport.com. Make a list of the private student loan balances listed on your credit report.
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3
Add together the balance provided to you by the Federal Student Aid Information Center and the balances of your private student loans that are reported on your credit report to obtain the total amount that you owe on student loans.