Educational Materials and Resources - Student Loan Ombudsman - Financial Regulation
(Last reviewed or updated: February 14, 2024)
Educational Materials
The Maryland Student Loan Ombudsman’s Educational Materials are designed for those who are seeking, already have, or are responsible for repaying, federal and private student loans. The materials:
- Familiarizes borrowers with their rights and responsibilities;
- Explains how to apply for federal financial aid using the Free Application for Federal Student Aid (FAFSA) process;
- Explains the repayment options and some possible payment programs;
- Explains potential loan forgiveness options and how to make use of those options; and
- Explains and defines important loan-related financial terms.
The educational curriculum is available as a downloadable guide and video modules:
Student Loan Ombudsman’s Educational Materials (PDF)
VIDEO MODULES
Introduction to the Educational Materials
About the Maryland Student Loan Ombudsman; purpose of these educational materials
Transcript – Introduction Video
Watch on YouTube
MODULE 2: Monthly Payment Requirements
Definition of student loan servicer; starting your student loan repayment; keeping track of your loans; loan consolidation; subsidized and unsubsidized loans; payment deferment and forbearance; student loan default; additional resources
Transcript – Module 2
Watch on YouTube
MODULE 4: Student Loan Forgiveness Programs
Public Service Loan Forgiveness; Teacher Loan Forgiveness; various state-level student loan repayment assistance programs
Transcript – Module 4
Watch on YouTube
MODULE 1: Application Process and Documentation Requirements
How to submit a Free Application for Federal Student Aid (FAFSA); FAFSA documentation requirements; expected family contribution; Maryland scholarships and grants; private loans; additional resources
Transcript – Module 1
Watch on YouTube
MODULE 3: Repayment Options for Student Loans
Repayment options for federal student loans; traditional plans and income-driven plans; summaries of each type of federal repayment plan; additional resourc
Transcript – Module 3
Watch on YouTube
MODULE 5: Student Loan Disclosure Requirements
Federal student loan exit counseling; student loan borrower responsibilities; student loan borrower rights; additional resources
Transcript – Module 5
Watch on YouTube
Maryland Student Loan Borrower’s Bill of Rights
The Maryland Student Loan Borrower’s Bill of Rights (PDF) applies to Maryland residents who are repaying student loans. The Bill of Rights describes the protections borrowers have and the requirements of the companies that collect and process borrower payments, named “student loan servicers”. Learn more here.
Federal Resources:
- National Office of the U.S. Department of Education - Repayment, consolidation, and postponement options for federal loans.
- Consumer Financial Protection Bureau (CFPB)
- CFPB Questions About Student Loans
- CFPB Private Education Loan Ombudsman - created to assist private student loan borrowers. You may file a private student loan complaint using the online student loan complaint form.
Tips for student loan borrowers- Repay student debt - Know your options
- U.S. Department of Education's Federal Student Aid Office (FSA):
- National advocate: National Consumer Law Center
Maryland Resources for Student Loan Borrowers:
- SmartBuy from the Department of Housing and Community Development
- Maryland Student Loan Debt Relief Tax Credit from the Higher Education Commission
Maryland Resources for Financing a College Education:
- Maryland Higher Education Commission
- Maryland 529 (formerly College Savings Plan of Maryland)