Your Rights & Responsibilities

You have the right to:

  • Prepay all or any part of your loan at any time without penalty.
  • Have your federal loan obligation cancelled if you die or become totally and permanently disabled and meet specific criteria.
  • Ask your lender for a graduated, income-sensitive, standard or extended repayment schedule annually. (Please note: Income sensitive and extended payments have specific criteria for eligibility.)

You are entitled to:

  • A copy of your Repayment Disclosure.
  • Repay your federal loan(s) at the interest rate established under federal regulation.
  • Have any questions about your federal loans answered by your lender, servicer or guarantor.
  • Contact an Ombudsman at either the guarantor or the U.S. Department of Education if you are unable to resolve an issue with the lender, servicer or guarantor.
  • Exercise any consumer protection rights under federal or state law applicable to federal loans.
  • Defer payment for a specified period of time (if you qualify).

You are responsible for:

Notifying your lender/servicer of any change in the following information:

  • school
  • name
  • address
  • telephone number
  • enrollment status
  • withdrawal or graduation
  • drop to less then half-time status
  • employer

It is your responsibility to begin making payments at the end of your grace period whether or not you have received a Repayment Disclosure. If your first payment due date is nearing and you have not yet received a Repayment Disclosure, contact your lender.