Perkins Loan Department
Borrower's Rights & Responsibilities


Phone: 616-331-2208
Fax: 616-331-3975
Jody Reid
reidj@gvsu.edu

106 Lake Michigan Hall
Long Term Loan Office
Allendale, MI 49401
Borrower's Rights & Responsibilities

    * To repay all or part of the loan(s) without penalty at any time.
    * To a grace period after graduation or discontinuing education. 
       During this grace period, payment is not required and interest does
       not accrue on the Perkins and Nursing loans.
    *  To deferment of payment, if eligible.
    *  To cancellation of loan, if eligible.

Borrower's responsibilities
    *  To make payments on time.
    *  To notify the Long-Term Loan office if payment cannot be made by
        the due date.  A late fee will be charged if the account is not brought
        current.
    *  To notify the Long-Term Loan office if there is any change of  address, name or phone number..
    *   To file appropriate forms, such as deferment or cancellations, in a
         timely manner.
    *   To understand that failure to repay your student loan will have
         serious consequences:
            Referral to collection agency.
            Report the past due status of your loan to National Credit Bureau
               reporting agencies.
            Loss of eligibility for deferment or cancellation benefits.
            Loss of eligibility for further Federal Financial Aid.
            Hold will be placed on your academic transcript.

  Last Modified Date: September 28, 2007
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