Borrower Reports Again Reflect More-Complete Loan Information

USA Funds^® advises school-customers that its Borrower Debt Management Information Service correspondence, commonly known as “Know What You Owe,” once again contains a more-complete picture of a student’s indebtedness. Since mid-April, when the U.S. Department of Education suspended guarantor, lender and servicer access to the National Student Loan Data System, the Borrower Debt Management Information Service correspondence has reflected only loans guaranteed by USA Funds.

The Department has notified USA Funds that it has restored access to NSLDS data through the guarantor Financial Aid Transcript-request process. This data is used in the Borrower Debt Management Information Service correspondence to provide borrowers with information about the total amount of their Stafford-, graduate PLUS, and consolidation-loan debt guaranteed by USA Funds and other guarantors.

The Borrower Debt Management Information Service is a tool to help borrowers keep track of their student-loan debt. Schools frequently use this information during exit counseling with graduating borrowers.

School representatives who would like to learn more about the service should contact their USA Funds Services representative.