Loan Responsibilities

Loans are a common way that students are able to pay for school and cover living expenses. At UTSA we are dedicated to helping students understand how to use loans effectively. On this page, you can find information on what it means to borrow loans and your different options for repayment.

Why is loan responsibility important?

Determining whether you need to take out a student loan is an important decision. A student loan can help pay for required educational expenses and assist you in achieving your degree.

While a student loan can be beneficial, a student should not take out a student loan without careful consideration. Before accepting a student loan, remember the following:

  • Establish a budget to determine the amount of loans needed
  • Keep student loan amounts as low as possible
  • Federal loans are usually preferable to alternative loans.
  • Borrow money for needs and not wants
  • Keep track of the amount you borrow at The National Student Loan Database (NSLDS) or

Creating a loan portfolio can be helpful to keep track of the amounts you borrow. Use our template below and update your loan amounts each time you borrow.

Student loan repayment

When it comes to repaying your student loan(s), you’ll want to consider the repayment plan that will fit your needs best and will help keep your finances in order. Below are a few points you will want to remember about loan repayment.

  • The amount you borrowed in student loans and the accumulated interest must be repaid
  • Loan repayments begin after your 6 month grace period
  • The amount owed must be repaid regardless of whether you graduate
  • The federal government will collect the money owed to them and they have the authority to garnish wages and collect tax refunds.
  • Student loans are rarely discharged in bankruptcy
  • Late payments will damage your credit score

For information about your loan servicer or different repayment options, see the Student Loan Repayment Handout.

To calculate your estimated monthly payments, use the Federal Student Aid Repayment Estimator.