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Student Loan Success Strategies - Who is involved

Participants in your education loan repayment include:

     A. Lender - (Who loaned you the money) Bank, savings and loan, credit union or organizations. 

     B. Borrower/Student/Debtor, etc. - You.

     C. Holder - (Who owns it now) Current owner of the loan and has legal title.  You will likely change who you make payments to.

     D. Guarantor/Co-Signer - (Who will pay if you can't pay or stop paying) - Parent, other adult, state agency or private, nonprofit organization who promises to pay if you either miss or stop making payments, die, go on disability, or file bankruptcy.

Note: Servicers may also participate, which are companies that specialize in handling billing, collections, and deferments for loans.  

Info from "Success Strategies & Repayment Realities: A Guide to Repaying Student Loans," published by Access Group, Inc.

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