Borrower's Rights

• To Repay all or part of the loan(s) without penalty at any time.
  
• To a Grace Period after graduation or discontinuing education. During this grace period, payment is not required and interest does not accrue on most loans. (Interest will accrue on some medical and Vertins loans). Repayment of loan does not begin until your grace period has expired. Your grace period dates were shown on your Student Loan Exit Interview sheet.
  
• To Deferment of payment if eligible.
  
• To Cancellation of loan if eligible.

Borrower's Responsibilities

• To Make Monthly Payment. Payment is due the 1st of each month.
  
• To Notify Student Loan Service Center if payment can not be made by the due date. A late fee charge will be assessed if no payment or response is made by the 10th of the month.
  
• To Notify the Student Loan Service Center if there is any change of address, name or phone number.
  
• To Submit forms if qualified for deferment or cancellation of loan.
  
• To Understand that failure to repay your student loan will have serious consequences:
  • Referral to collection agency.
  • Report past due amounts to National Credit Reporting agencies.
  • Become ineligible for deferment or cancellation.
  • Become ineligible for further Federal or State Financial Aid.
  • Hold will be placed on your academic transcript.