Source:
Press Release from the Department of Justice, US Attorney’s Office, Middle District of TN on 6/4/19.
Article by Attorney DJ Rausa, Marshall & Associates
A trusted student loan adviser, within the school, was indicted for stealing student loans from those attending school and for taking out student loans fraudulently by using the identity of the unsuspected. I am can imagine the surprise, worry and devastation that this would cause a student.
Importance of Students Researching Financial Aid Balances
I have been practicing Student Loan Law since 2014, but this is a new one on me. The Student Loan System has its problems, but now, it is even more important for a student to check their financial aid and balance that account against their tuition costs every semester, much like a check book.
This is a very good habit to get into because it will keep a student loan borrower up to date on the cost of each semester. It will also provide a good understanding of the cost of the degree being pursued. It will ensure that the student loan money being borrowed is being used in furtherance of that education and enable a student to get a clear picture of what type of salary is going to be needed to address the total debt burden after graduating.
How to Request Student Loan Report
I am often asked by my clients, “How do I get this report? ”
You can obtain your student loan report from the US Department of Education by utilizing this link.
Student Loan Report Data Online
This report will provide detailed information regarding all your Federal Student Loans. It will give the student loan borrower the loan amount, the balance of all Federal Loans, the interest rates, the payment status, the information of the servicer, and the type of loan that was made.
This information is critical to review not only when a student loan borrower is in school, but also after graduation when payment on the loans are due. While formulating a plan to manage student loan debt, checks and balances need to be made to eliminate surprises.
At Marshall & Associates, our Student Loan Attorneys will review this report with you to ensure it is accurate.