MAY be co-payable to me and the school. Unless I authorize EFT, the check must require my endorsement. The lender must provide me with a copy of the completed promissory note when the loan is made. The lender must return the note to me when the note is paid in full. If I meet all the eligibility criteria, I may have the right to a grace period before repayment begins.
Grace period is defined differently per loan program.
I have the right to prepay the whole or any portion of the loan at any time without a penalty. I have the right to request written information on loan obligations including loan consolidation and refinancing. The lender will provide me with a repayment schedule before the repayment period begins. My obligation will be cancelled in the event of my death or permanent disability in accordance with applicable Federal regulations. I have the right to request forbearance.