Am I in debt now?

Hi, so I am a 19 yr old college student and on my award package, I accepted all of my Direct Loans. I've been doing this over a year now. I got notified by this company called Nelnet that they are gonna be my student loan servicer. My Nelnet portal says my principle balance is $14,000. Is this my student loan debt? Or just the loans I have available? Thanks!

8 Answers

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  • L
    Lv 4
    4 months ago

    This is the amount you owe, however, you do NOT pay anything back until 6-months after you graduate college.

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  • 8 months ago

    That would be your debt. Try this: READ what you are signing! You can get a total picture of your student loan debt at NSLDS.ed.gov - use your FSA ID & password to sign in..... and at least get a part time job so you do not have to borrow so much!

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  • nancy
    Lv 7
    8 months ago

    This is your actual debt--the amount that was disbursed and applied to your account.

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  • 8 months ago

    A student loan IS a debt so you now owe them $14,000 on which interest will be added.

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  • Topaz
    Lv 6
    8 months ago

    Oh God pls don't get a loan. U have to pay back with interest which will be about $35,000 when u graduate!!!

    Get a student grant Pell Grant. No payback!! Just get one every year.

    Don't sign for a loan! U will never pay it off. School teachers don't make much.

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  • 8 months ago

    If you accepted loans, you were already in debt in the first place.

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  • 8 months ago

    That is your principle balance (what you owe).  It does not indicate or include any interest that will accrue on the balance if you stretch your payments on the principle over time after you graduate.

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  • 8 months ago

    thats your debt....

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