Federal Loan Links:
As a Federal Stafford Student Loan Borrower you MUST:
- Attend entrance counseling before receiving the first loan payment.
- Attend exit counseling before leaving school or when you drop below half-time enrollment.
- Repay the loan, even if you do not complete your academic program, are dissatisfied with the education received, or are unable to find employment after graduation.
- Notify the Financial Aid Office and your
lender's Loan Servicing Center promptly if you:
- Change your name or address
- Withdraw from school or drop below half-time enrollment
- Transfer to another school
- Fail to enroll or re-enroll in school during the academic period for which the loan was intended
- Graduate or change your expected date
- Make monthly payments on your loan(s) after leaving school, unless a deferment or forbearance has been granted.
- Notify your lender's Loan Servicing Center of anything that might alter your eligibility for an existing loan.
As a Federal Stafford Student Loan Borrower You Are ENTITLED To:
- Written information on your loan obligations, including consolidation and refinancing, and your rights and responsibilities as a borrower.
- A grace period and an explanation of what this means.
- A disclosure statement prior to beginning repayment that contains information about interest rates, fees, the balance owed, and repayment options.
- Deferment of repayment for certain defined periods, if you qualify and if you request it.
- A forbearance if you qualify and if you request it.
- Prepayment of your loan in whole or in part at any time without an early- repayment penalty.
- A copy of the Master Promissory Note when the loan is made.
- Documentation when your loans are paid in full.