Student Loan Borrower

Rights

Written information on my loan obligations and information on my rights and responsibilities as a borrower

A grace period and an explanation of what this means

A disclosure statement, received before I begin to repay my loan, that includes information about interest rates, fees, the balance I owe, and the number of payments

Deferment of repayment or forbearance for certain defined periods, if I qualify and I request a deferment or forbearance

Prepayment of my loan in whole or in part anytime without an early-repayment penalty

A copy of my MPN either before or at the time my loan is disbursed

Documentation that my loan is paid in full

Responsibilities

Completing Exit Counseling before I leave school or drop below half-time enrollment

Repaying my loan even if I do not complete my academic program, I am dissatisfied with the education I received, or I am unable to find employment after I graduate

Notifying the Loan Servicing Center if I:

• Move/change my address
• Change my telephone number
• Change my name
• Change employers or employer’s address or telephone number changes

Making monthly payments on my loan after my grace period ends, unless I have a deferment or a forbearance

Notifying the Loan Servicing Center of anything that might alter my eligibility for an existing deferment or forbearance