Loan Agreement

If a student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund.
If a student is eligible for a loan guaranteed by the federal or state government and the student defaults on the loan, both of the following may occur:

  1. The federal or state government or a loan guarantee agency may take action against the student, including applying any income tax refund to which the person is entitled to reduce the balance owed on the loan.

  2. The student may not be eligible for any other federal student financial aid at another institution or other government assistance until the loan is repaid.