The importance of education cannot be more emphasized. Everyone’s problem is finding reliable financial backup. The lack of money to finance education is the main reason why many aspiring students are unable to pursue further studies. Sure a part time job will help with the expenses but barely make it. Clearly, the life of a college student is not all about partying. The pressure with academics and the struggle with finances combined, a student will barely make it through. And this is where student loan comes in.
The government understands the predicament most of the young individuals today face in pursuing their dream degree. Hence, the government, specifically the Department of Education offers different access points to assist students with loans and grants. One of such access points is a service called the National Student Loan Database System. It is for students who are seeking financial aid to support their education. This is a service utilized so that a certain individual can get information about his eligibility to file a student loan.
Established by the United States Department of Education, the National Student Loan Database System (NSLDS) is a record of information about college students all over the country. The pieces of information are contributed by schools and universities, agencies, the Direct Loan program and other Department of Education initiated projects. The system is very helpful and acts as a reference guide of college students to access their existing loan or to apply for a new one. The NSLDS is available for access online twenty four hours a day seven days a week.
Students can access the site to make certain inquiries about their loan and or grants including the amount, balance, loan status and the like. Using a centralized system for consolidating information, the NSLDS website can be accessed through a pin based system. For security purposes before granted access to data, signers will be asked to enter their personal information such as name, Social Security Number, date of birth and a personal identification number or PIN.
By providing pertinent information, the signer’s identity will be verified. As an additional service, the Federal Student Aid Information Center is also available for consultation or any type of queries through email and by phone. Due to the high level of security of the information that the NSLDS contains, the system requires users to use special software encryption to prevent information from being accessible to others over the Internet.
All the information in NSLDS is governed and protected by federal privacy laws. It is accessible to the individual himself/ herself and authorized individuals who are tasked to compute or access credit eligibility or to settle queries about certain Title IV loans and grants. The information is provided in a need to know basis because the security of the information is high priority.
A government initiated system such as the National Student Loan Database system is a support service that grants assistance to certain individuals who need all the help they need to take one step further to achieve their American dream.