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 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 compiled 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 on March 3, 2009 to help students complete this requirement. We hope to also have a staff member from the Louisiana Office of Student Financial Assistance ("LOSFA") available to answer any specific billing questions that graduates may have.
Students can also complete this requirement during business hours at the Office of Scholarships and Financial Aid, Room 110 Marquette Hall.
Students who have access to a computer 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
- Perkins 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.
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 Options
See our section on Loan Repayment Options for undergraduate and graduate students.
Money Management Tips
Need A Record of Your Loans?
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.
Federal Tax Benefits for Student Loan Borrowers
See the Internal Revenue Service's Tax Benefits for Higher Education (Publication 970) for more information on available student loan interest deductions available to taxpayers. Check this page for information on proposed changes to these programs
Updated November 17, 2009