Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and mortgages. You cannot have these loans canceled because you didn’t like the education you received, didn’t get a job in your field of study or because you’re having financial difficulty. Loans are legal obligations, so before you take out a student loan, think about the amount you’ll have to repay over the years. As with any student loan, be conservative and only borrow what you absolutely need.
* Promissory notes for Stafford loans are for both subsidized and unsubsidized loans. All other loans require a separate promissory not for each program.
** Please check with each individual lender for enrollment requirements.