I hereby certify that I have completed Mapping Your Future's Online Student Loan Counseling session and I understand that student loans have to be repaid. I also understand that I have specific rights and responsibilities when I borrow under the Stafford Loan Program that are outlined below. I understand that my school or lender will tell me when to fill out a Master Promissory Note.
I understand that I have the right to: - Written information on loan obligations, including loan consolidation and information on my rights and responsibilities - A copy of the promissory note and return of the note when the loan is paid in full - Before repayment, information on interest rates, fees, the balance owed on loans, a loan repayment schedule and an explanation of default and its consequences - Notification, if I am in my grace period or repayment, no later than 45 days after a lender assigns, sells or transfers my loan to another lender - A grace period, if applicable, prepayment of the loan without penalty; and federal interest benefits, deferments and forbearances if I qualify I understand that I am required to: - Repay the loan according to the repayment schedule and notify the lender of anything that affects ability to repay or eligibility for deferment or cancellation - Notify the lender if I graduate, withdraw, drop below half-time, transfer to another school or change my name, address or Social Security Number - Notify the lender if I fail to enroll for the period covered by the loan - Notify the school of any change in address - Attend an exit interview before leaving school I understand that counselors are available in the Financial Aid Office to answer any questions I may have about borrowing under the Stafford Loan Program. I understand that if my circumstances change and I no longer require or want the loan in full or in part I must contact the holder of the loan to notify them of any changes. I must then follow up with the holder and the school until the changes are in effect. I understand that this transmission certifies that I have met my obligation to participate in entrance counseling as prescribed by federal statute for all first-time borrowers.
If during your repayment you develop student loan problems that can't be resolved through the lender or guarantee agency, you may want to contact the US Department of Education Office of Student Financial Assistance Programs Ombudsman Office.
They will collect documentation and work to resolve the situation with you. Their website is http://sfahelp.ed.gov OR http://www.ombudsman.ed.gov/
Office of the Ombudsman Student Financial Assistance U.S. Department of Education Rm. 3012, ROB #3 7th and D streets, SW Washington, DC 20202-5144 Phone: 1-877-557-2575
