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Important Information for Student Loan Borrowers

  • As a student borrower, be aware of your rights and responsibilities.
  • Students must be enrolled at least half-time to be eligible for federal loan programs.
  • Borrow loan funds wisely. There is no penalty for repaying your loans early. If you have borrowed more money than you need for a semester, you can return the funds.
  • Be aware of the allotted grace period for each of your loans. If you enroll less than half-time, you will enter your grace period. If you do not re-enroll at least half-time before your grace period ends, you will be in repayment.
  • Pay off any accrued interest to avoid interest capitalization at repayment.
  • Avoid defaulting on your student loans. If you are having difficulty making monthly payments, contact your loan servicer for help and information.