When you obtain a federal student loan, you have the following responsibilities:

• don't borrow more than you are able to repay
• agree to repay the loan even if you do not complete your studies or find employment (by signing a promissory note)
• maintain satisfactory academic progress
• ensure the Study Abroad/Exchange institution is Title IV eligible if you plan to take Study Abroad/Exchange while receiving the federal student loan at Monash
• make timely minimum monthly payments even if you do not receive a bill or repayment notice
• continue to pay while waiting for deferment, forbearance or discharge approval
• notify your lender or loan servicing agency when you graduate, withdraw from school, drop below half-time enrolment status, transfer to another school or there are changes to your personal details
• complete the loan exit counselling before you leave school.