Please click to fill the correct answer.

True or False

1. You don't have to repay your student loan if you don't finish school or if you can't find a job when you graduate.

True False

2. If you pay all or part of your loan before it's due, you'll be charged a penalty.

True False

3. It's possible to apply for a deferment or postponement of your loan payments.

True False

Multiple Choice

4. The longest you can take to pay back a Federal Stafford Loan less than $30,000 is:

5 years
10 years
20 years

5. If you can't make your loan payments and don't qualify for a deferment, you should:

Apply for a forbearance.
Hope the lender will just forget about it.

6. Forbearance is:

A special payment arrangement from the holder of your loan(s).
A way to deal with stress.

7. Enclosed with your loan check will be:

A disclosure statement showing the loan interest rate.
A congratulations card.

8. You must inform your lender if you:

Change your name, address, telephone number, or social security number.
Change your graduation date.
Graduate, withdraw or transfer to another school.
Enroll for less than half-time.
Fail to enroll during the period for which your loan was intended.
All of the above.

9. If you fail to repay your student loan(s), you will be considered in:

Detention
Default

10. Borrowing a Federal Stafford Loan means signing a commitment to repay the loan. This is called a:

Master Promissory Note
Master's Degree
Master of Ceremonies

Congratulations! You've successfully completed the Student Loan Entrance Interview session. Fill out the information below, print it out and hand it in or take it to your financial aid office to access your loan monies.

I have read all the information contained in the Student Loan Entrance Interview Checklist and Quiz and understand its meaning and intent. I have completed all requested items truthfully and accurately. Through this Web site, I have received loan counseling, including repayment options and debt management information.

I will contact my financial aid office to get information about my loan, including my anticipated monthly payment as well as the name and address of my lender. If I have further questions regarding my loan, I will contact my lender or financial aid office.

Please print, sign, and take to your financial aid office so that you may receive your loan.

Student's Signature__________________________Date______

Financial Aid Officer's Signature____________________ Date_________