I understand the following information about my student loan(s):
1. I must repay my loan(s) within ten years, unless my loans are consolidated or I have utilized special repayment options, such as income-sensitive repayment, or have qualified for a deferment or forbearance.
2. I may consolidate my loan(s) to extend the repayment period and lower the monthly payment, but the interest rate and total amount of interest paid may be higher.
3. I may prepay all or part of my loan(s) at any time without penalty.
4. I must notify my lender in writing within 10 days if:
I change my name.
I change my address.
I change my telephone number.
I change my social security number.
I change my references.
5. I must repay my loan(s) even if I don't complete my education.
6. I will be notified in writing if my loan(s) are transferred to a new holder. I must direct all future correspondence to the new holder of the loan(s).
7. If I return to school after a six month grace period, my loans will be placed in a deferment status.
8. I understand that I will not be re-eligible for federal and/or state financial aid (including Federal Direct Student Loans and Federal Direct Parent PLUS Loads) unless I made satisfactory academic progress, or re-gained eligibility by transferring credits in and/or making up any necessary credits, or attaining the necessary cumulative grade point average. Please direct questions about financial aid eligibility to the Office of Financial Aid at +1 814 393 2315.
9. I understand that I must have 24 new credits each academic year to receive PHEAA State Grants.
10. I understand that early withdrawal may result in my needing to repay loans and/or grants.
For specific circumstances, I understand that I must contact the Financial Aid Office at +1 814 393 2314.