How To Use the National Student Loan Data System (NSLDS) To Manage Your Loans

More than one in five federal student loan borrowers are unsure of their repayment plan, according to the 2023-24 Student Loan Borrower Survey from the Consumer Financial Protection Bureau. If you're part of this group, there's one place you can get all of your federal student loan data: the National Student Loan Data System (NSLDS).

In this guide, find out what the NSLDS is and how to use the National Student Loan Data System to your advantage.

What is the National Student Loan Data System (NSLDS)?

The National Student Loan Data System is the central location for all of your federal student loan data. As a database, the NSLDS provides a complete overview of your federal financial aid history. NSLDS data shows grants and federal loans for the whole lifecycle, beginning with approval up until closure.

Schools, loan servicers, and other authorized users can access the NSLDS. Students and federal loan borrowers can no longer access the NSLDS directly. Instead, you can access NSLDS data through your Federal Student Aid (FSA) account. NSLDS data provides loan information such as balances, interest rates, loan status, repayment plan, and more.

The goal of the NSLDS is to have all of your federal financial aid data in one place. It's up to date and can be accessed by relevant parties. Sometimes your loan servicer might change, so having the NSLDS can be helpful if there's a transition.

Current student loan refinance rates

How to access your NSLDS account

In the past, there was a separate website to access the National Student Loan Data System. However, the information on the site was integrated into the Federal Student Aid's main website, StudentAid.gov, several years back.

While the NSLDS can still be used by certain authorized professionals, it's not accessible to students or borrowers.

However, you can still access NSLDS data through your StudentAid.gov account using the following steps:

1. Go to StudentAid.gov.
2. Input your FSA ID and password to log in.
3. Go to “My Aid.”
4. Choose “Download My Aid Data.”
5. Receive a .txt file.

If you don't remember your FSA ID or password or need to reset your information, head to the FSA login page. You can then select “Forgot My Username” or “Forgot My Password.” From there, follow the prompts to retrieve your information.

What information can you find on the NSLDS?

The NSLDS shows your whole federal financial aid history, ranging from approval and disbursement to repayment and closure. It's also the main hub where you'll find all your pertinent loan details.

“It is a great tool that provides information regarding loan types, a student's balance, interest rates, loan and grant history, as well as repayment options. It's helpful to borrowers to allow them to keep track of how much loan debt they have borrowed as well as how much interest has accrued,” says Christy Snedeker, director of undergraduate financial aid at Wilkes University.

In the NSLDS, you can find the following information:

• Federal loan disbursement amounts and dates
• Outstanding federal loan balances
• Grant amounts
• Types of federal loans
• Loan status
• Enrollment status
• Loan servicer
• Loan servicer contact information
• Interest rates
• Current repayment plan
• Payment due date
• Repayment start date
• Canceled loan amount
• Public Service Loan Forgiveness (PSLF) monthly payment total

How to use the NSLDS for loan repayment planning

Using the NSLDS for loan repayment planning can be helpful because you can see everything in one place. You get a complete view of your borrowing history, including the types of student loans you have, such as Direct Subsidized Loans or Direct Unsubsidized Loans.

“The file will provide details on the institution where the borrower attended for each loan tranche and the type of loan,” says Michael R. Acosta, certified student loan professional and owner of Genesis Wealth Planning, LLC. “In other areas of the data download, one can also locate the current repayment plan the borrower is in, along with past repayment plans.”

The NSLDS can help you see which repayment plan you're on. From there, you can compare options using FSA's loan simulator tool. If you want to consolidate your loans or pursue student loan forgiveness, you can see all your loans in one place and identify which loans are eligible.

Benefits of using the NSLDS

Using the NSLDS for loan repayment planning offers numerous benefits for borrowers, including:

• Knowing your loan status
• Verifying the types of loans you have
• Confirming interest rates on each loan
• Reviewing due dates to avoid missed payments or default 
• Tracking student loan forgiveness progress
• Finding your current repayment plan

NSLDS loan tracking provides you with all the relevant data you need about your federal student loans. However, going through the data and understanding it all may be tough.

“In my opinion, it is typically best practice to lean on the expertise and competency of a trained professional when using this text file being that it can be very overwhelming,” says Acosta.

Though you can access and interpret the information on your own, if you're confused about how to use the National Student Loan Data System, you can work with a vetted, credentialed professional.

Tips for making the most of NSLDS data

As a federal student loan borrower, one of the best ways to use the NSLDS is to stay on top of what you owe. NSLDS loan tracking allows you to see your loan balances and review your information for accuracy.

Both schools and loan servicers update the NSLDS with the latest information each month. However, StudentAid.gov notes that your outstanding principal balance may be up to 120 days behind. Your best bet for up-to-date balances is through your loan servicer.

Snedeker recommends reviewing your NSLDS data regularly. “Doing this can allow you to keep track of your loan debt, stay informed of any updates to your loan servicer, and provide you with repayment plan options. If you are looking for Public Service Loan Forgiveness (PSLF), that is also tracked here,” she says.

If you see incorrect information on the NSLDS, you can contact your loan servicer to clarify the issue. As part of managing your student loan repayment, consider setting reminders at least twice a year to review your NSLDS information.