Enrollment Management | Financial Aid Services
Know Your Loan Obligations
In order to manage your student loan debt, you must understand the different types of loans that you have. Your loan promissory note tells you the terms of the loans borrowed.
It is important to:
- Know how much do you owe.
- Know what is the interest rate(s).
- Know how much are your payments and when are they due.
- Know the length of time for repayment.
- Know if there are any service commitments to the loans (ex: primary care) and when you are to report.
- Know who your lenders are and what their contact information is.
- Know if there are any cancellation provisions on your loans (ex: Perkins).