·         Note:  For information on what to consider before you borrow money to pay for your education, click here.

an As an education loan borrower, I have the right to:

•       A copy of my promissory note either before or at the time my loan is disbursed.

•       Written information on my loan obligations and information on my rights and responsibilities as a borrower.

•       A grace period and an explanation of what it means.

•       A disclosure statement, received from my lender or loan servicer before I begin to repay my loan, that includes information about interest rates, fees, the balance I owe, and available repayment options.

•       Deferment of repayment for certain defined periods, if I qualify and if I request it.

•       Forbearance, if I qualify and if I request it.

•       Prepayment of my loan in whole or in part any time without an early-repayment penalty.

•       Documentation that my loan is paid in full.

•       Information on the average loan indebtedness of LHU student loan borrowers.

·      As an education loan borrower, I am responsible for:

•       Completing entrance counseling before receiving loan funds.

•       Completing exit counseling before I leave school or drop below half-time enrollment.

•       Repaying my loans according to the terms and conditions of my loan agreement.

•       Making timely monthly loan payments after my grace period ends, unless I have a deferment or forbearance.

•       Notifying my lender or loan servicer prior to my payment due date if I cannot make payments on time.

•       Notifying my lender and/or loan servicer of anything that might alter my eligibility for an existing deferment or forbearance.

•       Repaying my loan even if I do not complete my academic program, I am dissatisfied with the education I received, or I am unable to find employment after I graduate.

•       Notifying my lender and/or loan servicer if I change my name, address, phone number, or enrollment status.