Maintain relationships with lenders

Communication with US Department of Education

Borrowing money for your education from the US Government program requires some specific responsibilities on your part. Primarily, you are committed to paying the loan funds back in a timely manner.

Responsibilities

1. Complete entrance counselling (opens an external site). Before being permitted to complete your electronic MPN, you will be counselled on your obligations, rights and options under the terms of your loan.
2. Repay your loan. Your obligation to repay became legally binding when you signed the Master Promissory Note (MPN) and authorised the electronic transfer of funds to your account.
   You are required to repay the loan, even if you:
   • Do not complete your degree
   • Were not satisfied with the education or other services your received from the University
   • Cannot find employment
3. Pay on time.You are expected to make your payments on time unless you have made special arrangements.
4. Keep track of your loans on NSLDS (opens an external site).
5. Make a minimum payment. The minimum monthly repayment will vary depending on the amount you borrow and your repayment plan. Stay informed at StudentLoans.gov
6. Notify UTS and your Direct Loan Servicer if there are any changes to your:
   1. current address/phone numbers/name
   2. Social Security Number
   3. study plan - withdrawal from University or even subjects/units
   4. full-time study load
   5. anticipated graduation date
   6. driver's license number
   7. references
   8. permanent address
   9. expected employer
7. Complete exit counselling (opens an external site) before you leave University or graduate. You will be counselled on your obligations, rights and options under the terms of your loan. This session will cover repayment options, deferments and other important information you may need during your repayment term. During this session you will need to provide the following information:
   • Name and address of closest living relative
   • Two references - who are not your closest living relatives and living at different addresses