Roles and Responsibilities



Student loans, like other loans, are promissory notes. When you sign for these loans, you are promising to repay the amount borrowed. With very few exceptions, you must make regular payments until the loans are repaid in full. It is important that you consider your post graduation ability to repay your debts before incuring loan liabilities. 

Depending upon your circumstances, there are numerous programs and options available for repayment, deferment, forebearance, or forgiveness of your loans. See the tabs at left to learn more about some of these options. 

Also, options, policies and programs change over time, so it is important to keep abreast of changes in the loan repayment landscape.  

See the TABS AT LEFT to learn more.



Because your loan repayments may continue over a span of years, you should document all forms submitted as well as all other contacts you make with your loan holder(s) and other interested parties. You must also notify the creditor(s) when you graduate, withdraw from school, drop below half time status; change your name, address, or Social Security Number; or transfer to another school.

While most creditors will send you monthly statements or coupon books, you are responsible for making your payments even if you do not receive these conveniences. You are responsible for making full monthly payments even if you apply for deferment or forbearance — until such deferment or forbearance is approved.

Finally, you should take the time to educate yourself about loan finance details pertinent to your situation, such as amortization schedules, accrued interest, loan terms, tax benefits, service provider options and government programs and benefits.


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