Welcome to International Business College

Consumer Information

At International Business College, we want you to make an informed decision to attend our school. Many government agencies mandate that colleges provide various types of consumer information to the students, prospective students, and (in some cases) the general public. We take pride in providing you not only the information required by federal and state laws, but also additional useful information and disclosures on various aspects of our school. Therefore, we have gathered this material by category into a number of detailed web pages that are linked below. Of course, if you need more information or explanations, our staff is ready to help. Please contact the appropriate campus office or School Director’s Office for assistance with any of this information.

Of course, if you need more information or explanations, our staff is ready to help. Please contact the appropriate campus office or School Director’s Office for assistance with any of this information.

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Borrower Rights and Responsibilities

When you take out a loan, you sign a promissory note, and you must be given a copy of the completed note. The original note must be returned to you when the loan is paid in full. Before your loan is submitted, you will be given entrance counseling, and you will be provided the following information about your loan:

  • What Financial aid programs are available at your school and how you can qualify for them
  • The amounts you borrow and the maximum and minimum repayment periods
  • How your financial need was determined and what items were considered in your budget
  • A complete list of loan fees and information on how they are colleted
  • Your school policies concerning enrollment, required attendance, and good academic standing
  • International Business College Policy on refunds and return of Title IV if you should leave school
  • An explanation of default and its consequences.

Before your repayment period begins, International Business College and the Lender must notify you of the following:

  • The amount of your total debt (principal and interest), what your interest rate is, and the total interest charges on your loan.
  • Where to send your payments and where to write if you have questions.
  • When your first payment is due and the number, frequency, and amounts of all payments.
  • What fees you should expect during the repayment period.
  • What prepayment, refinancing and consolidation options are available to you.
  • You must also be given a loan repayment schedule.

If you are willing but unable to meet your repayment schedule and are not eligible for a deferment, you may request forbearance. Forbearance means permitting payments to be stopped temporarily, allowing an extension of time for making payments or making smaller payments than were originally scheduled. Your lender does not have to grant you forbearance or delay in a repayment.

With Stafford subsidized loans, you have a right to federal interest benefits. This means that the Federal Government will pay the interest on your subsidized loan until your repayment period begins. They will also pay during authorized deferment periods. You must arrange with the lender to pay the interest on your Stafford loan if you don’t qualify for federal interest benefits.

If you have a Stafford Loan and the lender sells the loan or transfers the right to receive payment, you must be notified.