{"id":2716,"date":"2017-03-24T17:18:03","date_gmt":"2017-03-24T21:18:03","guid":{"rendered":"https:\/\/www.med.unc.edu\/md\/studentaffairs\/financial-aid\/loans\/rights-and-responsibilities\/"},"modified":"2024-10-08T14:52:33","modified_gmt":"2024-10-08T18:52:33","slug":"rights-and-responsibilities","status":"publish","type":"page","link":"https:\/\/www.med.unc.edu\/md\/financial-aid\/tools-and-resources\/rights-and-responsibilities\/","title":{"rendered":"Rights and Responsibilities"},"content":{"rendered":"<p>As you enter into new borrowing relationships, it is important to know your rights as well as the responsibilities required of you.<\/p>\n<h2>Your Rights as a Borrower<\/h2>\n<ul>\n<li>You have the right to prepay any federal loan (including Stafford, Perkins, PLUS, or consolidation loans).<\/li>\n<li>You have the right to not be charged any prepayment penalties on federal student loans.<\/li>\n<li>You have the right to make payments towards your loan or pay more than what is required at any point in time (including while you are still in school).<\/li>\n<li>You have the right to contact your servicer and request that your term be shortened or that your repayment plan be changed at any time (likely during or after residency).<\/li>\n<li>You have the right to request the lender reduce or postpone payment through a deferment or a forbearance if you are experiencing financial difficulties.<\/li>\n<\/ul>\n<p>Remember: You must be proactive in exercising these rights! Your lender will not reach out to you and remind you of them.<\/p>\n<h2>Your Responsibilities as a Borrower<\/h2>\n<ul>\n<li>You are responsible for paying back your loan on time.<\/li>\n<li>You are responsible for making your regular payments by the due date, whether you receive a statement or not.<\/li>\n<li>You are responsible for notifying your servicer(s) of any address changes.<\/li>\n<li>You are responsible for completing entry and exit counseling with your financial aid officer.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>As you enter into new borrowing relationships, it is important to know your rights as well as the responsibilities required of you. Your Rights as a Borrower You have the right to prepay any federal loan (including Stafford, Perkins, PLUS, or consolidation loans). You have the right to not be charged any prepayment penalties on &hellip; <a href=\"https:\/\/www.med.unc.edu\/md\/financial-aid\/tools-and-resources\/rights-and-responsibilities\/\" aria-label=\"Read more about Rights and Responsibilities\">Read more<\/a><\/p>\n","protected":false},"author":77142,"featured_media":0,"parent":2723,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"layout":"","cellInformation":"","apiCallInformation":"","footnotes":"","_links_to":"","_links_to_target":""},"class_list":["post-2716","page","type-page","status-publish","hentry","odd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rights and Responsibilities | Office of Financial Aid &amp; Scholarships<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.med.unc.edu\/md\/financial-aid\/tools-and-resources\/rights-and-responsibilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rights and Responsibilities | Office of Financial Aid &amp; Scholarships\" \/>\n<meta property=\"og:description\" content=\"As you enter into new borrowing relationships, it is important to know your rights as well as the responsibilities required of you. 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