FEDERAL DIRECT LOANS

Direct Loans are federal subsidized and unsubsidized loans where the lender is the federal government. These loans are serviced by third party vendors contracted by the federal government.

Understanding the repayment process for your federal student loans can go a long way toward building a solid financial foundation.

Remember, federal student loans are real loans, just like car loans or mortgages. You must repay a student loan even if your financial circumstances become difficult. Your student loans cannot be canceled because you didn't get the education or job you expected, or because you didn't complete your education (unless you couldn't complete your education because your school closed). To estimate your federal student loan payments, you may use the Loan Simulator provided by logging into your dashboard on www.studentaid.gov.

If you have any questions about your federal direct loans, contact Direct Loan borrower services at 1-800-848-0979 or visit the Federal Student Aid website.

You should also contact your loan servicer if you:

• Need help making your loan payment

• Change your name, address, or telephone number

• Have a question about your bill

• Graduate

• Drop below half-time enrollment

• Transfer to another school

• Stop going to school

• Have questions on deferment, forbearance, or loan consolidation

• Have questions on loan forgiveness, cancellation, and discharge

• Have questions on how to resolve a dispute

• Need to understand the consequences of default

LOAN SERVICER INFORMATION

Who is my loan servicer for federal Direct Loans?

Visit your dashboard on studentaid.gov to view information about all of the federal student loans you have received and to find contact information for the loan servicer or lender for your loans. You will need your Federal Student Aid ID to access your information.

Below is a partial list of federal loan servicers.

• CornerStone

• FedLoan Servicing (PHEAA)

• Granite State - GSMR

• Great Lakes Educational Loan Services, Inc.

• HESC/Edfinancial

• MOHELA

• Navient(formerly Sallie Mae)

• Nelnet

• OSLA Servicing

You can find your federal loan servicer by logging into studentaid.gov for more information.

Please note: Institutions that enter into an agreement with a potential student, student, or parent of a student regarding Title IV, HEA loan are required to inform the student or parent that the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

EXIT COUNSELING

Prior to entering repayment, Renaissance Beauty Academy will make Exit Loan Counseling available to student loan borrowers meeting one the following criteria via their e-mail account and/or via mail.

• Graduation.

• Dropped Out; or

• Withdrawn from classes.

Exit Loan Counseling is designed to help students understand their rights and responsibilities as a borrower and to help determine an appropriate repayment plan. Borrowers may complete Exit Loan Counseling online at www.studentaid.gov. For additional information regarding what is provided by loan servicers prior to entering repayment, please visit our Borrower Rights & Responsibilities page.