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Financial Aid: Exit Consulting

Completing your degree requirements is a tremendous

accomplishment and we applauded you!

Are you a borrower of Federal Student Loans? If yes, then

EXIT Counseling IS REQUIRED!

WWW.STUDENTLOANS.GOV

 

6 TOP Things to Manage Your Student Loans

https://studentaid.ed.gov/sa/repay-loans

 

#1 Attend Senior Day Informational Sessions

A Financial Aid representative will be available at Senior Day sessions to provide information, answer questions and address any concerns you may have regarding the Exit Counseling process.

 

#2 Identify Your Loan Servicer(s)

If you borrowed a subsidized, unsubsidized or PLUS loan, the Department of Education assigned a loan servicer to assist you in successfully managing your student loans. To identify your loan servicer(s), please log onto www.nslds.ed.gov.  The loan servicer will assist you with information regarding your loan, repayment, and available options if payment is unavailable.

 

#3 View the Total Amount Borrowed

To view the total student loan amounts borrowed from the federal government, log onto www.nslds.ed.gov.  You should understand that your total indebtedness will be calculated as principal plus interest.  If you have borrowed a private loan you should contact the lender directly.

 

#4 Calculate an Estimated Monthly Payment

We recommend you using the Repayment Estimator/Calculator on the Federal Student Aid website at www.studentaid.ed.gov or contact your loan servicer(s) as identified in step #2. Utilize this information to assist you in determining how much new debt to make and the timeframe you may want to choose in making new debt.  Even through you have a 6 month grace period; this information can help you in your financial decision making.

 

#5 Identify/Choose a Repayment Plan

There are several repayment plans.  You will be required to choose a repayment plan when completing online EXIT Counseling.  Study and decide on the repayment plan that fits your financial objectives. Repayment Plans:  Traditional (Standard, Graduated or Extended) or Income-Driven (Pay as you Earn, Income Based (IBR) or Income Contingent (ICR)).  Also, learn about forbearance, deferment, and loan forgiveness.  This can help you understand what options are available. If you have questions, please contact your loan servicer.  To review the repayment options, visit Federal Student Aid at https://studentaid.ed.gov/sa/repay-loans or FedLoan Servicing at https://myfedloan.org/billing-payment/payment-plans/.

 

#6 COMPLETE the EXIT COUNSELING

All Federal Student Loan borrowers are required to complete the Exit Counseling at least 30-45 days prior to graduating.  Students will not be cleared for Graduation until the EXIT Counseling is complete.  This process can be completed online at WWW.STUDENTLOANS.GOV.  You must log in using your FSA User Name and Password.  Federal Perkins Loans borrowers must also complete the EXIT process – Please see Ms. Rhonda Creighton in the Office of Business and Finance for more details.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Connect with us:

Dillard University

2601 Gentilly Boulevard
New Orleans, Louisiana 70122
504.283.8822

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