Loan Exit Counseling

You must complete exit counseling when you leave school, graduate, or drop below half-time enrollment. The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment.

You will learn about what your federal student loan payments will look like after school. You will be recommended a repayment strategy that best suits your future plans and goals.

Information that you will need to complete your loan exit counseling:

Name, Permanent Home Address, Phone Number, Personal Email Address, Driver’s License or State ID Number, Expected Employer (it is okay if you don’t have one), Closest Living Relative with a U.S. Address (different from yours), Two References (2 people with U.S. addresses different from yours). 

Start your Exit Counseling here.

Your Rights and Responsibilities as Borrower

I have the right to

• written information on my loan obligations and information on my rights and responsibilities as a borrower;
• a copy of my MPN either before or at the time my loan is disbursed;
• a grace period and an explanation of what this means;
• notification, if the Department transfers your loan to another servicer without your consent;
• a disclosure statement, received before I begin to repay my loan, that includes information about interest rates, fees, the balance I owe, and a loan repayment schedule;
• deferment or forbearance of repayment for certain defined periods, if I qualify and if I request it;
• prepay my loan in whole or in part at any time without an early-repayment penalty; and
• documentation when my loan is paid in full.

I am responsible for

• completing exit counseling before I graduate, leave school, or drop below half-time enrollment;
• repaying my loan according to my repayment schedule even if I do not complete my academic program, I am dissatisfied with the education I received, or I am unable to find employment after I graduate;
• notifying my lender or loan servicer if I
  • • move or change my address,
    • change my telephone number,
    • change my name,
    • change my Social Security number, or
    • change employers, or if my employer’s address or telephone number changes;

• making monthly payments on my loan after my grace period ends, unless I have a deferment or forbearance; and
• notifying my lender or loan servicer of anything that might alter my eligibility for an existing deferment or forbearance.