Table of Contents » Chapter 1 : Pre Graduation » Chapter 1 : Student Loan Information

Chapter 1 : Student Loan Information

All information on federal loans may be found at studentaid.ed.gov. Below you will find key information for the student with federal loans. A section about private loans is also provided.


Exit Counseling

Exit Counseling is required by federal regulations. It is important that you complete the session soon after graduation to understand your rights, responsibilities, and options. Exit counseling may also be called an exit interview. Read more...


Direct Federal Repayment

There are four repayment plans for Direct Federal Loans. A guide to repaying loans can be found here; studentaid.ed.gov . Some of the information is summarized here.Read more...


Loan Consolidation

Be alert to the opportunity to consolidate, or combine all of your student loans, into one new loan at a lower interest rate. The interest rates on most federal student loans are variable and are adjusted annually with a cap of 8.25%. However, interest rates on consolidation are calculated at a weighted average of your loans and may result in a lower interest rate for the life of the loan. Consolidation information here; studentaid.ed.gov.Read more...


Private lenders

If you have loans through private lenders such as Citi Bank or Sallie Mae, you are required to complete an exit interview with them as well. This is to ensure that you understand the ins and outs of repaying your student loans. Some lenders offer different regulations about repaying your loans. Many of these interviews can be completed online.Read more...


Student Loan Forgiveness Program:

studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/public-service
In 2007, Congress created the Public Service Loan Forgiveness Program to encourage individuals to enter and continue to work full-time in public service jobs.Read more...


Troubleshooting Loan Problems

Problem #1: You never completed an exit interview.

Action plan: Contact your financial Aid office they will direct you to the appropriate place to complete the interview.Read more...