To find out who your loan servicer is, call the Federal Student Aid Information Center (FSAIC) at 1-800-433-3243

A loan servicer is a company that handles the billing and other services on your federal student loan . Contact your loan servicer for repayment plans, student loan forgiveness , and more

You must start making payments on you student loans six months after you graduate, drop below half-time status, or stop attending.

Students Loans are spilt into TWO disbursements each semester.

The first disbursement in approximately 45 days AFTER the first class day and the second is approximately 30 days later.
All institutional charges (tuition, fees, books, etc.) are deducted before any credit balances are refunded.

Example:
Loan Award=$5,500/year or $2750/semester
Disbursements #1- $1360 ($1375 les Dept. of Ed Loan Origination Fee). Disbursed 1st Class day + appx 45 days
Disbursements #2- $1360 ($1375 less Dept. of Ed Loan Origination Fee). Disbursed 1st Class day + appx 75 days

Northeast no longer participates in the Federal Family Student Loan Program.

It is your responsibility to:

• Review and consider all information about a school's program before you enroll.
• Pay special attention to your application for student financial aid, complete it accurately, and submit it on time to the right place. Errors can delay or prevent your receiving aid.
• Know and comply with all deadlines for applying or reapplying for aid.
• Notify your school of any information that has changed since you applied.
• Read, understand, and keep copies of all forms you are asked to sign.
• Repay any student loans you have. When you sign a promissory note, you are agreeing to repay your loan.
• Attend an exit interview at your school, if you have Stafford Student Loan or PLUS/SLS Loan.
• Notify your school of any change in your name, address, or attendance status (half-time, three-quarter time, or full-time). If you have a loan, you must also notify your lender of these changes.
• Satisfactorily perform the work agreed upon in a Work-study job.
• Understand you school's refund policy.

You have the right to ask a school:

• The names of its accrediting and licensing organizations.
• About its programs, its instructional laboratory and other physical facilities; and its faculty.
• What the cost of attending is, and what its policy is on refunds to students who drop out.
• What financial assistance is available, including information on all federal, state, local, private, and institutional financial aid programs.
• What the procedures and deadlines are for submitting applications for each available financial aid program.
• How it selects financial aid recipients.
• How it determines your financial need. This process includes how costs for tuition and fees, room and board, travel, books and supplies, and personal and miscellaneous expenses are considered in your cost of education. It also includes the resources considered in calculating your need (such as parental contribution, other financial aid, assets, etc.).
• How much of your financial need, as determined by the school, has been met.
• How and when you will be paid.
• To explain each type and amount of assistance in your financial aid package.
• What the interest rate is on any student loan you have, the total amount you must repay, the length of time you have to repay, when you must start repayment, and what cancellation or deferment (postponement) provisions apply.
• If you are offered a work-study job, what kind of job it is, what hours you must work, what your duties will be, what the rate of pay will be, and how and when you will be paid.
• To reconsider your aid package, if you believe a mistake has been made, or if your enrollment or financial aid circumstances have changed.
• How the school determines whether you are making satisfactory progress and what happens if you are not.
• What special facilities and services are available to the handicapped.

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