As many of you are successfully receiving your student loans, we thought we'd take a minute to remind you how to manage them, whether they are your responsibility today, or in the years to come. Every borrower has responsibilities, and rights, to keep track of. We've described a few below.

If you have not secured your loan for next semester yet, please continue investigating alternatives. Remember - secure your federal loans first! Compare rates from many competing lenders of federal and private loans at SimpleTuition, including:

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Here are some tips that may help you stay on top of your loans:
The borrower, or borrowers are the responsible party/parties in the eyes of the lender. Even if you are a co-signer (taking out the loan with another person) you are also ultimately on the hook for the loan. Make sure your fellow borrower knows their responsibilities, as well.

If you don't repay your loan on time or according to the terms in your promissory note, you might go into default, which has serious consequences and will affect your credit rating.


You must make payments on your loan even if you don't receive a bill or repayment notice. Billing statements (or coupon books) are sent to you as a convenience, but you're obligated to make payments even if you don't receive any reminders.


If you apply for a deferment or forbearance, you must continue to make payments until you're notified the request has been granted. If you don't, you might end up in default.