Any sample loan document you sign as a student have the same legal consequences as those of a person borrowing elsewhere. For example, a student loan promissory note confirms the borrower’s commitment to making all repayments including interests accrued by a specific date. Depending on the financial institution, these may either be signed on loan promissory note paper formats, digitally through a computer or both.
Federal loan institutions usually provide more flexible terms in their Promissory notes compared to private ones. Whichever you go for, confirm if you agree with the interest rates and any special provisions. Also remember to safely keep a copy for future reference.
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