Understanding the rights and responsibilities of student loan borrowers is crucial for managing and repaying student loans effectively. As a borrower, it's important to be aware of the following:

• Rights: Borrowers have the right to receive complete information about their loans, including the terms and conditions, repayment options, and the process for requesting deferment or forbearance.
• Responsibilities: Borrowers are responsible for repaying their loans on time, notifying their loan servicer of any changes in contact information, and understanding their repayment options.

For example, under the Higher Education Act, borrowers have the right to request income-driven repayment plans, loan forgiveness, and deferment or forbearance options. On the other hand, borrowers are responsible for making timely payments, even if they do not receive a bill or repayment notice.

It's important for student loan borrowers to stay informed about their rights and responsibilities by regularly reviewing their loan agreements and communicating with their loan servicers. By understanding and fulfilling these obligations, borrowers can effectively manage their student loan debt and avoid default.