Debt Management Test

Please enter your Name and Student ID Number and complete the short test by entering "True" or "False." Be sure to press the "Submit" button below as verification of your having read and understand the loan counseling information. Any student failing to make a grade of 70 or above on the test will be contacted. For questions regarding your student loan, contact 940-898-3064 or email

Entrance Loan / Debt Management

I must pay back my loan(s) with accrued interest and any deducted fees.

I am not required to repay my loan(s) if I don't complete my education, if I am dissatisfied with my education, or if I am unable to get a job after I complete my program.

I may prepay all or part of my loan(s) without penalty.

I must notify my lender if I change my name, change my graduation date, withdraw from school, change my address, transfer to another school, change my telephone number, and/or enroll for less than half-time.

Loan repayment for the Federal Perkins Loan and Federal Stafford Loan begins immediately after I graduate, leave school, or drop below half-time enrollment. There is no grace period on my loan.

If I fail to make timely payments on my loan(s), my delinquency and/or default will be reported to a credit bureau.

If I default on my student loan(s) my federal income tax refund may be withheld.

Your lender must give you a copy of your promissory note when your loan is made.

Before you begin to repay your loan, your lender must give you a repayment schedule and detailed information about interest rates, fees, the balance you owe, and repayment options available to you.

I am not eligible for loan deferment if I return to school full time.

Page last updated 3:20 PM, December 16, 2021