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 410 Thomas Hall.

NEW:  Effective March 31, 2013 , students can also complete online counseling on the StudentLoans.gov 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. Just ignore the introductory pages from the NSLDS Site (where the counseling module used to be. You can use the NSLDS site for additional detailed information on your loan records)

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

Calculating Your Monthly Payments

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 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

 

 

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 April 26, 2013