Keep Good Records and Communicate with your Service

Managing your student loan account and all documents carefully now will pay off in the end and help you to avoid running into problems in the future.

• Maintain copies of your student loan records and keep everything current with your lender/servicer. It is your responsibility to let your servicer know any address and name changes so that they can find you.
• Ensure that your loans are deferred while you are in school and communicate with your lender/servicer if you are experiencing any difficulty with repayment before your account becomes delinquent.

Your lender may sell your loan to a new holder (secondary market):

• you should receive written notification from your new servicer
• your loan terms and conditions should not change.

Private Loans – the repayment terms of private loans can differ greatly by lender. You should check the details with each lender and whether they offer a grace period or deferment and forbearance options.