Exit 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 Direct 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.

We would like to encourage everyone to review the Top Ten Student Loan Tips for Recent Graduates that we created based on the original list developed by the Project on Student Debt.

 Students have several options for completing this requirement:

Financial aid staff will be available at the annual Graduation Fair during the spring semester to help students complete this requirement.

Students who are graduating at the end of the summer or fall semesters can also complete this requirement during business hours at the Office of Scholarships and Financial Aid, Room 110 Marquette Hall.

NEW:  Effective March 31, 2010 , students can also complete online counseling on the National Student Loan Data System for Students website. We would like to encourage students to utilize this site as you will be able to print out  a record of your federal student loans.

• Online "Exit Counseling" Tutorial  - see why you should use this site.

However, if you experience technical problems with this site (as it is new), you  can 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.

• Stafford only Exit Counseling
• GradPLUS only Exit Counseling
• Stafford and Grad PLUS Exit Counseling

Students who use the online 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 who have additional questions 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.

Keep In Touch with Us After You Leave

With all the changes in federal student loan programs since 2008, we want to establish a mechanism to communicate with borrowers once they leave Loyola University New Orleans. We hope to help you get One Step Ahead  as you move on to graduate school or out into the "world of work". 

Average Indebtedness of Loyola University New Orleans Graduates

• Undergraduates who completed their degree requirements during 2008-2009 year
• Law Students and Graduate Students who completed their degree requirements during 2007-2008 year

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

 More Information on Repayment - - Know Who You Must Repay

Under provisions of the Ensuring Continued Access to Student Loans Act, lenders have the option to "PUT" (sell) loans to the U.S. Department of Education (DOE).  Lenders must notify borrowers if their loans have been sold to the Department of Education. 

For more information on this very important topic,  go to the  section on Loan Repayment Options for undergraduate and graduate students.

Money Management Tips

• Graduate and Professional Students
• Young Alumni  

Updated November 20, 2010