What is Loan Exit Counseling?
Loan exit counseling is an online tutorial that provides tips and useful information to help student borrowers manage their loans and know their rights and responsibilities. Topics covered include: Loan repayment options, deferment, forbearance, delinquency and default, loan consolidation and loan forgiveness programs. Additional financial resource materials and links are also provided to support responsible debt management practices.
Who is required to complete Exit Counseling?
Students who withdraw, graduate, or drop below half-time enrollment (even if transferring to another school). Additionally, students who plan to take a semester off must also complete exit counseling since the university cannot guarantee future enrollment.
Why is Exit Counseling required?
Title IV Regulations and university policy.
When Must the Exit Counseling be completed?
Within 30 days of receipt of notification from CUI that exit counseling is required.
How do I know how much I owe?
The Department of Education has created a database for students to keep track of all of their Federal education loans. This site is called NSLDS (National Student Loan Data System). URL: www.nslds.ed.gov. Click "Financial Aid Review". Access requires the student's 4-digit FAFSA PIN. Included in the database are all Federal student loans received from any post-secondary institution attended. NSLDS does not include any Private / Alternative loans taken to supplement the cost of education. Parent PLUS loan data is also included in the NSLDS database and will be found under the parent's name using the parent's FAFSA PIN. Should you have questions about your NSLDS data please call 800-730-8913.
Will completing Exit Counseling affect my loans if they are currently in deferment?
No. Your loans will remain in deferment unless your enrollment drops below half-time status.
START EXIT COUNSELING
Exit Counseling is taken online at http://www.studentloans.gov To get started, click "Sign In" under "Manage My Direct Loan" (your FAFSA PIN is required). Choose the "Complete Counseling" option and then click START under EXIT COUNSELING.