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Responsibilities:

• You are entitled to a copy of your Repayment Schedule and Disclosure Statement.
• You have the right to be notified in writing if your loans are sold or transferred for servicing.
• You are entitled to a repayment period of at least five years.
• You have the right to prepay any part of your loan at any time without penalty.
• If you qualify, you have the right to defer your loan payments.
• You are entitled to have any questions about your student loan answered by your lender, guarantor, or the U.S. Department of Education.
• You have the right to have your loan canceled as a result of death or total and permanent disability.
• You have the right to a graduated or income-sensitive repayment schedule.
• If you first borrowed on or after October 7, 1998, and have a FFEL Program debt of more than $30,000, you are entitled to an extended repayment schedule.  Contact the Direct Loan Servicer for more information about the extended repayment plan for Federal Direct Loans.
• You are entitled to notification from your loan holder when your loan is paid in full.

• You must notify your lender or servicer if you change your name, address, or enrollment status (i.e. you withdraw, graduate, drop to less than half-time enrollment, or change your school of attendance).
• You are responsible for knowing the terms of your student loans. You should keep copies of all student loan documents in a safe place.
• You must repay your loan whether or not you complete your studies, are satisfied with the education you receive, or are able to find employment.
• You must make your loan payments on time.
• Repayment begins and a first payment is due within 60 days after the end of your grace period on a Stafford Loan.  Repayment begins and a first payment is due within 60 days after a PLUS or Consolidation Loan is fully disbursed, and, on any loan, within 60 days after a deferment or forbearance period ends.  Payment is expected whether you have received a repayment schedule or not.  If you are nearing repayment on your loan(s) but have not received notification of a first payment due date or a payment schedule, you must immediately contact your lender or servicer.
• If you are unable to meet a scheduled payment, you must contact your lender or servicer as soon as possible. The lender or servicer may be able to help if you seek assistance before you are late making a payment.
• When you graduate, withdraw, or drop to less than half-time enrollment, you must give your school your expected permanent address, the name and address of your expected employer, and the address of your closest relative. Your school will forward this information to your guarantor, lender, or loan servicer.