Stafford Loan Exit Counseling Interview
Your school and the federal government require that you complete a student loan exit counseling interview. Failing to complete your exit counseling interview could prevent you from graduating, receiving your diploma, obtaining your transcripts to attend another school, and receiving any student account refunds owed to you from your school.
Most of the time you may complete this requirement online through an online exit counseling seminar at NSLDS.ed.gov. If your school informs you that you'll be using an online service, here are some tips. Before you begin you should have the following information available for each of your school loans. You will need to fill out your "proof of completion" certificate.
- Names of your lender(s) and Guarantor(s)
- Telephone numbers for each
- Loan amount, interest and estimated monthly payment for each loan
- Name, address and telephone number of the nearest relative and two other references
- Name, address and telephone number of expected employer (if known)
The exit counseling interview will provide you with:
- Information on how to manage your student loan repayment
- Your rights & responsibilities as a borrower in the federal student loan program
- Forbearance, deferment, hardship, disability, discharge and forgiveness information
- Other important loan servicing and default consequence information
Once you have completed your student loan exit counseling interview, you should consider consolidating your federal student loans. You can consolidate Federal Stafford, Direct Stafford, Parent PLUS, Perkins, HEAL loans and all Federal FFELP and Direct Loans taken out to pay for your education. Student loan consolidation could lower monthly payments up to 53%.