What are my responsibilities as a borrower?
- Signing a promissory note is your commitment to repay your Federal Perkins Loan. You must repay this loan even if you don’t complete your education, can’t get a job after graduation or are not satisfied with the education you received.
- You must notify the Federal Perkins Loan Coordinator if you graduate, withdraw, take a leave of absence, or drop below half-time status; if you transfer to another school; or if you change your name, address or social security number.
- You must complete an on-line entrance counseling session before receiving your first disbursement and an exit counseling session when you cease to be a half-time student at this college, due to graduation,withdrawal, academic dismissal or taking a leave of absence.
- You must repay your loan according to the repayment schedule, even if you do not receive a bill from the College. If you cannot meet the terms of the repayment agreement, you must notify the Federal Perkins Loan Coordinator immediately.
- If you qualify for a deferment or cancellation, you must file properly completed and certified forms with the billing service by the date payment is due.
- You must notify the Federal Perkins Loan Coordinator of any occurrence that may affect your eligibility for a deferment.
