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Know your options.
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Keep records.
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Open and READ all mail.
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Be pro–active‚ initiate communication with
your lender or guarantor‚ document phone conversations.
Keep telephone numbers‚ date you called and the
representative’s name who assisted you.
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Know the players (Secondary Market‚ Lender‚
Servicer‚ Guarantors‚ Holder).
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Notify lender/servicer when or if there are changes
to:
Name‚ address‚ social security number;
Drop below half–time enrollment;
Fail to enroll;
Graduate‚ withdraw‚ transfer or take a leave
of absence;
Return to school;
Change deferment status;
Need to apply for forbearance; and
Can’t pay.
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Ask your lender to send a repayment schedule if you
don’t receive one.
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Keep copies of all materials you send to your lender/servicer.
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Send important documents via registered mail‚
return receipt requested.
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REMEMBER ALL DEFERMENTS AND FORBEARANCE START WITH
YOU.
