USA Funds’ Access to NSLDS Restored, With One Exception

USA Funds^® advises customers that its access to the National Student Loan Data System was restored effective May 22, with one exception.

The U.S. Department of Education last month suspended guarantor, lender and servicer access to NSLDS as part of an effort to identify unauthorized uses of the database and implement safeguards to prevent future abuses.

“We are pleased to again have access to this important resource that is necessary for performing a wide range of guarantor activities, from ensuring the eligibility of student-loan borrowers to preventing fraud and abuse in the student-loan program,” said Rick Buckingham, USA Funds vice president, policy and compliance. “USA Funds is committed to using NSLDS data only for the purposes for which the system was intended.”

USA Funds also has requested that the Department of Education restore access to data through the guarantor Financial Aid Transcript-request process. This data is used to provide students a more-complete picture of their outstanding student-loan indebtedness, through a service known as Borrower Debt Management Information or “Know What You Owe” correspondence. Schools may request this service from USA Funds. Until this access is restored, the “Know What You Owe” reports will continue to reflect only loans guaranteed by USA Funds.