Exit Counseling: Who Needs It?

Not sure if you'll need to participate in required federal exit counseling when you leave school? If you borrowed money from the federal government to pay for your education, you will.

Exit counseling is similar to the entrance counseling you received when you first completed your master promissory note. This learning opportunity provides information about your rights and responsibilities as a borrower, including information about various repayment plans and deferment or forbearance options that may be available to you if you are unable to make a payment.

The federal government requires schools to conduct exit interviews with all students who receive specific types of federal student loans.

You need exit counseling if you have a:

You do not need exit counseling if you have only:

Plan Ahead

If you have loans that require exit counseling, the timing of your participation depends on your enrollment status. Prepare to go through exit counseling when or if you:

Before you start exit counseling, you'll need to gather a few key pieces of information. Learn what you need to get ready. (PDF)

Helpful Hint

Don't know who services your federal loans?
To find out, sign in to NSLDS.ed.gov using your PIN. Keep track of all of your servicers (PDF) and their contact information.

What Do You Know Today?

Take our Q&A to find out what you may already know about your rights and responsibilities as a borrower.

Test Your Knowledge

College is expensive. What was the average cost (tuition and fees) for a 4-year public school in the United States in 2009–2010?

  1. $7,020
  2. $9,010
  3. $12,050

1. $7,020

Although there are plenty of schools with higher tuition and costs, the average in the United States is $7,020 per year.

Source: The College Board, 2010