Exit Loan Counseling
If you ever have an unresolved problem with your student loan, you should first contact your lender. If the problem continues to be unresolved after contacting your lender, you can contact the Federal Student Aid's Office of the Ombudsman or call (877) 557-2575. |
Students who have borrowed under the Federal Stafford Loan Program must complete an "Exit Loan Counseling " session during their final semester. Effective July 1, 2008, students who have borrowed under the Federal Grad PLUS Loan must also complete an "Exit Counseling" session. The U.S. Department of Education wants to insure that students review the terms of their loan and understand their rights and responsibilities under this program as they enter repayment..
On-line Options:
Students who have Internet Access can now also complete this requirement at:
- Mapping Your Future, a site established by a number of state guarantee agencies. Graduate and professional students who have borrowed under both the Federal Stafford and Federal Grad PLUS should complete the module that combines counseling for both programs
Students who utilize the on-line counseling programs must forward their results to our office. Any questions should be addressed to us . We attempt to answer all e-mail queries received during the week within 24 hours. Students can also call our office between 8:30 and 4:45 p.m. during the week and ask to speak to the staff members responsible for their files.
Students who have loans from a number of lenders may want to investigate the benefits of Loan consolidation .
Students who have borrowed under the Federal Perkins Loan Program must complete a separate Perkins Loan Exit Interview available on the ECSI website .
Calculating Your Monthly Payments:
There are a number of online calculators that will help you organize your finances as you leave school. Check these sites for more information:
- FinAid! The Smart Student Guide to Financial Aid's Loan Calculators.
- CNNMoney.com's Student Loan Calculator
National Student Loan Data System
The National Student Loan Data System (NSLDS) is the U.S. Department of Education's (ED's) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, the Pell Grant program, and other Department of ED programs. You can find a detailed history of your federal student loans on this site.
