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Guide to Responsible Student Loan Borrowing
*Extra Debt Warning*
Student Name
Last 4 SSN
I understand that Rasmussen College recommends that I only need to borrow student loans to the
extent of the cost of my tuition and any level of borrowing above that cost will result in greater debt,
greater repayment terms, and potential risk to my financial future.
I understand that Rasmussen College does not recommend borrowing loans if I have other resources at
my availability to cover my cost of attendance. Rasmussen College urges students to exp lore other
sources of aid such as grants, scholarships, and work-study programs that do not require repayment.
I understand that I have borrowed student loans which are a debt and must be repaid when I graduate,
reduce my credit load below half-time enrollment status, or cease to be enrolled at Rasmussen College
or any other eligible institution.
I understand that failure to repay student loan debt, plus any and all accrued interest, will damage my
credit and result in further serious and possible irreversible action by the federal government.
I understand that student loans are almost never discharged through bankruptcy and that my failure to
repay student loans can and will result in serious consequences.
The Essay on Student Loan Debt
Going to college has been taught to be the next step in education after graduating high school but is it truly that easy? The main factor to attending college now is the money issue. In today’s generation receiving a scholarship would be the best way to get through college without the burden of student loan debt piling up as you get further into college. Even though financial aid is available for ...
By signing below I agree to the statements listed above and understand the importance of responsible loan
borrowing while in pursuit of my degree.
Furthermore, I acknowledge the receipt of a copy of the Estimated Student Financial Plan worksheet and
understand my estimated payment terms are as follows:
Total Federal Borrowing:
_____________
Monthly Payment amount:
_____________
Student Signature
Date
1|Page
2/2012
