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Exit Counseling is Here. Are You Ready?

May 8, 2017

As graduation nears, students face an overwhelming number of questions. Where will I work? Where will I live? What happens next with my federal student loans?

While we can’t predict answers for the first two questions, we’re here today to help with the third. More specifically, with exit counseling. Students who graduate, leave school, or drop below half-time enrollment, and have received a subsidized, unsubsidized, or PLUS loan under the Direct Loan Program or FFEL Program must complete exit counseling. The exit counseling process helps ensure that students understand their responsibilities as a student loan borrower as well as what to expect upon entering repayment.

For schools, FSA offers a helpful guide that details exit counseling requirements. This downloadable, 40-page brochure explains loan types, interest rates, repayment plans, and more. Financial aid offices may review this guide with their students in order to help them complete their exit counseling responsibilities.

If your school allows, your students may complete online exit counseling through the FSA website. Online exit counseling provides students with important information to help prepare them for federal student loan repayment. The online exit counseling process typically takes 20-30 minutes and must be completed in a single session.

While the future holds exiting opportunities for graduating students, it also presents a new responsibility with student loan repayment. The exit counseling process helps students start off on the right foot.

If you have any questions about exit counseling, contact us. We’re always glad to help.

 

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