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Due to the snowstorm, the college, including the Gladys Marcus Library and The Museum at FIT, will be closed on Wednesday, March 21.   Additional details posted here.

In this section

Your Rights and Responsibilities as a Borrower

I have the right to:

  • written information on my loan obligations and information on my rights and responsibilities as a borrower;
  • a copy of my MPN either before or at the time my loan is disbursed;
  • a grace period and an explanation of what this means;
  • notification, if the Department of Education transfers your loan to another servicer without your consent;
  • a disclosure statement, received before I begin to repay my loan, that includes information about interest rates, fees, the balance I owe, and a loan repayment schedule;
  • prepay my loan in whole or in part anytime without an early-repayment penalty;
  • documentation when my loan is paid in full

I am responsible for:

  • completing exit counseling at StudentLoans.gov before I leave school or drop below half-time enrollment;
  • repaying my loan according to my repayment schedule 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;
  • notifying my lender or servicer if I:
      • move or change my address,
      • change my telephone number,
      • change my name,
      • change my Social Security number, or
      • change employers or my employer’s address or telephone number changes;
  • making monthly payments on my loan after my grace period ends, unless I have a deferment or forbearance; and
  • notifying my lender or loan servicer of anything that might alter my eligibility for an existing deferment or forbearance