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Borrower Rights and Responsibilities

Borrower's Rights:

You have the right to:

  • Prepay any federal loan without penalty
  • Request a copy of your MPN
  • Change repayment plans
  • Recieve grace periods and subsidies on certain loans
  • Use deferment or forebearance to postpone payments
  • Receive documentation of loan obligations, rights, and responsibilites, and when the loan in fully repaid

Borrower's Responsibilities:

You are expected to:

  • Complete exit counseling before leaving or dropping below half time enrollment
  • Make loan payments on time
  • Make payments despite nonreceipt of bill
  • Notify servicers of changes to your contact or personal information
  • Notify servicers of changes in your enrollment status