What Does a Student Loan Account Number Look Like?

If you’re taking out student loans, you’ll need to know your loan account number. Here’s what it looks like and where to find it.

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Introduction

A student loan account number is a nine-digit code that identifies your specific loan. You can find your account number on your monthly statement or by logging into your online account. If you have multiple loans, each one will have its own unique account number. Your lender may also refer to your account number as your loan ID or loan reference number.

The Different Types of Student Loans

There are many different types of student loans, each with their own borrowing rules, repayment terms, and interest rates. Here are the most common types of student loans:

-Federal Perkins Loans: Federal Perkins Loans are need-based loans that are awarded to undergraduate and graduate students with exceptional financial need. Interest on these loans is 5%.

-Direct Subsidized Loans: Direct Subsidized Loans are need-based loans available to undergraduate students. The interest on these loans is subsidized by the federal government while you are in school and during your grace period. Interest rates for Direct Subsidized Loans disbursed between July 1, 2020 and June 30, 2021 is 2.75%.

-Direct Unsubsidized Loans: Direct Unsubsidized Loans are not need-based loans available to undergraduate and graduate students. Interest accrues on these loans from the date of disbursement and is not subsidized by the federal government. Interest rates for Direct Unsubsidized Loans disbursed between July 1, 2020 and June 30, 2021 is 2.75% for undergraduates and 4.30% for graduate students.

-Direct PLUS Loans: Direct PLUS Loans are credit-based loans available to parents of dependent undergraduate students and to graduate or professional degree students. Parents can borrow up to the cost of attendance minus any other financial aid their child is receiving. Graduate or professional degree students can borrow up to the cost of attendance minus any other financial aid they are receiving. Interest rates for Direct PLUS Loans disbursed between July 1, 2020 and June 30, 2021 is 5.30%.

The Different Numbers on a Student Loan

There are a few different numbers that you might see on your student loan account. These numbers can be used to identify your loan, make payments, and track your balance.

The most important number on your student loan account is the account number. This number is used to identify your specific loan and is needed any time you want to make a payment or discuss your loan with customer service. Your account number can usually be found on your monthly statement.

Your student loan may also have a reference number. This number is often used by the Department of Education internally and isn’t needed for making payments or contacting customer service. You might see this number on correspondence from the Department of Education or on your credit report.

In addition to these two numbers, you might also see a federal loan servicing number on your account. This number is assigned by the company that services your loan and is used to identify your account with that company. You’ll need this number if you have questions about your bill or need to contact customer service for assistance.

How to Find Your Student Loan Account Number

Your account number is a nine-digit number that uniquely identifies your loan and is located on your monthly billing statement. If you’re not receiving paper bills, sign in to your account and select “View statement” from the “I want to” drop-down menu.

Conclusion

A student loan account number is a unique identifier assigned to each student loan borrower. This number is used by the Department of Education and your student loan servicer to keep track of your account and enable you to access your account information online. If you have multiple student loans, you will have a separate account number for each loan. You can find your student loan account numbers on your monthly statement or by logging in to your account on the Department of Education’s website.