Things to be Remembered

Here  are some points you should keep in mind:

• Keep all your loan document with you so that you’ll not face any  problems later. 
• Keep all the documents related to the loan in one file so that you’ll always have what you need in one place.
• Develop a monthly budget that indicates the percentage of your income that should be allocated to each area. Remember the monthly loan repayment is as important as the other expenses.
• Keep a record of the phone calls to the lender and the date you had the conversation, and what was said. 
• Keep the copies of the letters u sent to the lender & always include your loan account number. Also keep the copies of the  responses you receive.
• You must ensure your loan holder won’t lose track of you. If that happens, you could miss payments and become delinquent (late). Also, your loan could be sold, and you won’t know who has it or where to send payments because you couldn’t be notified.
• Notify your school and/or loan holder in writing if you move, change your name or Social Security Number, or reenroll in school. 

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