It's important that students understand the responsibilities associated with borrowing money. Students who obtain loans for their certificate or degree program of instruction are responsible for full repayment of these loans, plus any accrued interest. The student must repay the loan even if the student does not complete the educational certificate or degree program or is not able or does not choose to seek employment after completing the program. Students who fail to repay a loan will be considered in default. Default on a loan may result in the loan becoming immediately due and payable, withholding of federal and/or state income tax refunds, wage garnishment, ineligibility for future state and federal financial aid, and/or the reporting of the default to a national credit bureau.