Entrance Counseling Right and Responsibilities Summary Checklist
I understand that I have a right to the following: (check off each box as you read.)
Written information on my loan obligations and information 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 deferment of forbearance
Prepayment of my loan in whole or in part any time without an early-repayment penalty
I understand I am responsible for:
Completing exit counseling before I leave school or drop below half-time enrollment
Repaying my loan even if I do not complete my academic program (under certain
circumstances), I am dissatisfied with the education I received, or I am unable to find
employment after I graduate
Notifying my school and my loan servicer if I move/change my address or change my
name
Notifying my loan servicer if I:
• Withdraw from school or drop below half-time enrollment,
• Transfer to another school,
• Fail to enroll or re-enroll in school for the period for which the loan was intended,
• Change my expected graduation date, or
• Graduate
Making monthly payments on my loan after my grace period ends, unless I have a
deferment or a forbearance (more detailed information about deferment, forbearance, and
repayment options will be provided during exit counseling)
Notifying my loan servicer of anything that might alter my eligibility for an existing
deferment.
I have received entrance counseling materials for Direct Subsidized Loan and Direct
Unsubsidized Loan borrowers. I have read and I understand my rights and responsibilities as a
borrower. I also understand that, as a condition of this loan, I must participate in classes and
make satisfactory academic process as defined by my school. I understand that I have a loan
from the federal government that must be repaid.
__________________________________ _________________________________
Name HVCC ID
__________________________________ _________________________________
Signature Date
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signature
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