Borrowing money for your education is a serious financial obligation. It’s important to remember when you borrow money that it must eventually be repaid. You will still be obligated to repay your loans even if you do not complete your program. There are very few options⤷ available for discharging, cancelling, or forgiving federal loans. If you borrow a federal loan, you should expect to repay it.
You should also keep in mind that interest will be charged on your loans. This means you will end up repaying more than you actually borrowed – in some cases, far more. Information on interest is available on StudentAid.gov/interest⤷.
Consider your repayment obligation carefully before taking out a loan, and consider how much you reasonably can repay. Information on federal loan repayment, including a payment estimator, is available online at StudentAid.gov/repay⤷. (Borrowers of Health Professions Loans and Loans for Disadvantaged Students should click here⤷ for loan repayment information.)
The above information is for individuals currently in or starting the DMD Program.