Responsible Borrower

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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.

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