Repayment obligations

1 ANSWERS

1. amomipais82
   

   Hi,
   As a borrower under the Federal Family Education Loan Program (FFELP), you are required to notify your school and/or lender if any of the following events occur before a loan is repaid.
   You must notify your school's financial aid office if any of the following events take place:
   You reduce your enrollment status to less than half time.
   You withdraw from school.
   You stop attending classes.
   You fail to re-enroll for any term.
   You have a change in your expected graduation date, and/or
   You change your name, local address, permanent address, or e-mail address.
   Shortly before your enrollment ends, you must participate in exit counseling with your school, during which you will update your loan records about your:
   Permanent address,
   E-mail address,
   Telephone number,
   Future employer, and
   References.
   You must notify the lender of a particular loan if you fail to enroll with respect to such loan:
   At least half time for the loan period certified, or
   At the school that certified your eligibility.
   You must promptly notify your lender(s) if any of the following events occur before loans held by your lender(s) are repaid:
   You change your address, your telephone number, or your e-mail address,
   You change your name (for example, maiden name to married name),
   You withdraw from school or begin attending less than half time,
   You transfer from one school to another school,
   You change your employer or your employer's address or telephone number changes, and/or,
   You have any other change in status that would affect your loan (for example, the loss of eligibility for an unemployment deferment by obtaining a job).

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