Student rights
Before you leave school, you will be provided with the following information about your student loan:
- the amount of your total debt, your interest rate, and the total interest on your loan
- if applicable, the name of the lender or agency holding your loans, where to send your payments, and where to write or call with questions
- an explanation of fees such as late charges and collection or litigation costs if you are delinquent or in default
- an explanation of available refinancing or consolidation options
- a statement that you can repay your loan at any time without penalty
Other information you may be given includes:
- anticipated monthly payments and when they are due
- repayment options
- notification that you must provide your expected permanent address, the name and address of your expected employer, and any corrections to your school's records
You have the right to a grace period before you begin repayment. This period begins when you leave school or drop below half-time status.
