When you borrow federal money for college, you enter into a formal contract to repay that money. Like with any contract, it is important to know what rights and responsibilities go along with it.
As a federal student loan borrower, you are entitled to options that can help you manage your education debt and achieve overall financial wellness.
Simply put, you are responsible for repaying your loan—no matter what. You must also inform your lender and your school when you:
You must also notify your school’s financial aid office if: