I don't understand my NSLDS Record, Please Help me

[Anonymous]

Hello,

I am only down to one charge off on my reports and I have a confusing set of incorrect reporting on my student loans on my report. Following the advice here I let go of my fears and created an account on NSLDS and saw my student loan records but I do not understand it or how to make sense of it. Please help me.

1. It lists my student loans, amounts disbursed and then there is a line that says canceled amounts.

A. What does canceled amounts mean? Do I owe those amounts or no? They say outstanding principal and outstanding interest 0?

B. I have some others below it that say disbursed amount 0 and canceled amount 0, I dropped out at some point in college and did not finish, is that what that is? If I don't owe those, those are the ones showing up on my credit report now as delinquent. I have the 6000$, 3500$, and 1553$ on my credit report.

C.Below those some say canceled amount 0, oustanding 0, and outstanding interest 0, however these have disbursed amounts. Do I owe these or no?

D. Under Total for all loans it says 0, what does this mean?

I have copied and pasted my exact record here. Please help me decipher what this means and if it should be or not be reporting on my credit reports as the few I mentioned above are listed on my reports. I want to get a home within the year and I want to clean my reports and student loans and how this whole thing works are a new thing for me.

Thanks.

Here is my record:

Loans
Please click on number in first column to see details   Type of Loan Loan Amount Loan Date Disbursed Amount Canceled Amount Outstanding Principal Outstanding Interest

1	DIRECT STAFFORD UNSUBSIDIZED	$4,713	06/28/2010	$4,713	$4,713	$0	$0
2	DIRECT STAFFORD SUBSIDIZED	$3,500	06/28/2010	$3,500	$3,500	$0	$0
3	FFEL STAFFORD SUBSIDIZED	$1,664	01/19/2010	$1,553	$1,947	$0	$0
4	FFEL STAFFORD UNSUBSIDIZED	$6,000	11/24/2009	$0	$6,000	$0	$0
5	FFEL STAFFORD SUBSIDIZED	$3,500	09/22/2009	$0	$3,500	$0	$0
6	FFEL STAFFORD UNSUBSIDIZED	$6,000	09/22/2009	$0	$6,000	$0	$0
7	FFEL STAFFORD UNSUBSIDIZED	$6,000	06/23/2009	$0	$6,000	$0	$0
8	FFEL STAFFORD SUBSIDIZED	$3,500	06/23/2009	$0	$3,500	$0	$0
9	FFEL STAFFORD UNSUBSIDIZED	$1,500	04/19/1999	$1,500	$0	$0	$0
10	FFEL STAFFORD SUBSIDIZED	$1,167	04/19/1999	$1,167	$0	$0	$0
11	FFEL STAFFORD UNSUBSIDIZED	$4,000	12/07/1998	$4,000	$0	$0	$0
12	FFEL STAFFORD SUBSIDIZED	$2,625	09/29/1998	$2,625	$0	$0	$0
Total  DIRECT STAFFORD UNSUBSIDIZED					$0	$0
Total  DIRECT STAFFORD SUBSIDIZED					$0	$0
Total  FFEL STAFFORD SUBSIDIZED					$0	$0
Total  FFEL STAFFORD UNSUBSIDIZED					$0	$0
Total All Loans					$0	$0

[Anonymous]

anyone? bump...

[SCF]

Generally, cancelled amounts are amounts that were returned to the Department of Education for some reason.  A common reason is that you accepted a lower loan amount than the total that was offered, or you repaid some of the loan within a few months of it being disbursed.  I think loan amounts can also be cancelled if you are found to not be eligible for the loans - a common reason for that would be not attending classes or dropping out mid-semester.  In that case, the school would have to return the loans, but you might still owe the school money depending on their policy.

Have you made any payments on these loans?  Have you contacted the lenders that are listed on your credit report to ask for more details?  It might also be a good idea to contact your school to see what happened to each of the loans.  Their financial aid office should be able to assist you and tell you if you have any balances owed to the school as well.

[Anonymous]

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@SCF wrote:

Generally, cancelled amounts are amounts that were returned to the Department of Education for some reason.  A common reason is that you accepted a lower loan amount than the total that was offered, or you repaid some of the loan within a few months of it being disbursed.  I think loan amounts can also be cancelled if you are found to not be eligible for the loans - a common reason for that would be not attending classes or dropping out mid-semester.  In that case, the school would have to return the loans, but you might still owe the school money depending on their policy.

Have you made any payments on these loans?  Have you contacted the lenders that are listed on your credit report to ask for more details?  It might also be a good idea to contact your school to see what happened to each of the loans.  Their financial aid office should be able to assist you and tell you if you have any balances owed to the school as well.

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I did drop out mid semester and I only took partial because of it. According to the chart: amount outstanding on all of them is 0, interest outstanding is also 0 on all of them. Two of those are still showing up on my cra reports. Citi no longer has them, they said transferred or sold to Dept. of Ed. on my cra report. I will try to contact the school. I was just hoping to have a better understanding of this chart before doing so and was wondering how this chart as it stands could affect me getting a mortgage in the near future.

thanks.