Columbus School of Law

Financial Aid >Entrance/Exit Counseling >Rights & Responsibilities

- Rights & Responsibilities Summary -

I understand that I have a right to the following:

· Written information on my loan obligations and on my rights and responsibilities as a borrower.
· A grace period and an explanation of what this means.
· A disclosure statement, received before I begin to repay my loan, that includes information about

interest rates, fees, the balance I owe, and the number of payments.

· Deferment of repayment or forbearance for certain defined periods, if I qualify and if I request it.
· Prepayment of my loan in whole or in part at any time without an early-repayment penalty.
· A copy of my master promissory note (MPN) either before or at the time my loan is disbursed.

· Documentation that my loan is paid in full.

I understand I am responsible for:

· Completing an exit counseling session before I leave school or drop below half-time enrollment.

· 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.

· Making monthly payments on my loan(s) after I leave school, unless I have requested and received approval for a deferment or forbearance.

· Notifying my Loan Servicer of anything that might alter my eligibility for an existing deferment or forbearance

· Notifying my school and Loan Servicer if I:

o Move/change my address

o Change my name

o Withdraw from school or drop below half-time enrollment

o Transfer to another school

o Fail to enroll or reenroll in school for the period for which the loan was intended

o Change my expected date of graduation

o Graduate

_{Federal and commercial loans, as well as scholarships, grants and loans funded by the law school, are awarded on the basis of financial need and/or academic merit. Awards can consist of any combination of scholarships, grants and loans.}

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