Exit Counseling

Exit counseling is a mandatory information session which takes place when a student graduates or attends school less than half-time; the session explains loan repayment responsibilities and when repayment begins. If the student borrowed for federal loans, unlike grants and work-study, this constitutes borrowed money that must be repaid, with interest, just like car loans and home mortgages. Students cannot have these loans canceled because they didn't like the education received, didn't get a job in their field of study, or because they are having financial difficulty. Loans are legal obligations that students must repay.

Exit counseling:

• Is required before a student withdraws, graduates, or drops below half-time attendance (even if one plans to transfer to another school).
• Helps the student understand rights and responsibilities as a student loan borrower.
• Provides useful tips and information to help the student manage loans.

These procedures, as well as the federal regulations they are based on, are subject to change without advance notice.