What is an exit interview for student loans?

What is a student exit interview?

The exit interview is scheduled after the student has completed all degree requirements to allow for an open and confidential conversation. The exit interview is a conversation with the Chair or DGS, whoever the student prefers. Below is a sample list of questions that might be asked to prompt the conversation.

What happens if you don’t do exit loan counseling?

Exit counseling is required by federal law. What happens if you don’t complete it depends on your school. Typically, the Bursar’s office will put your transcripts and diploma on hold until you finish exit counseling. Generally, you’ll still be able to graduate.

What is the purpose of exit counseling for federal student loans?

The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. You’ll learn about what your federal student loan payments will look like after school. We’ll recommend a repayment strategy that best suits your future plans and goals.

What happens during exit interview?

In a typical exit interview, you’ll be asked what aspects of your position you liked the most. Whether it was a particular job duty, your team members, or the weekly happy hours, your company wants to know what made you look forward to coming in each day.

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How do students conduct exit interviews?

Exit Interview Steps

  1. Explain the purpose of the exit interview.
  2. Encourage the student to be as candid as possible.
  3. Explain that you will be taking notes.
  4. Begin with less sensitive questions to put the student at ease.
  5. Gradually move into areas of greater sensitivity.

Do I have to do exit counseling if I attend graduate school?

Exit counseling is required for all federal student loan borrowers. Borrowers who received a subsidized, unsubsidized or PLUS loan under the direct loan program must complete exit counseling when they drop below half-time enrollment, leave school or graduate.

Why do you need references for exit counseling?

Why do I have to enter references? Federal regulations require postsecondary schools to collect reference and next of kin information during entrance and exit counseling so your loan holder will have additional contacts in case they’re unable to reach you in the future.

How many days after your scheduled payment is due will your loan go into default if not paid?

For a loan made under the William D. Ford Federal Direct Loan Program or the Federal Family Education Loan Program, you’re considered to be in default if you don’t make your scheduled student loan payments for at least 270 days.

What happens after completing exit counseling?

After you finish filling out your information, you’re all finished with student loan exit counseling. Once your loan servicer approves your repayment plan, you’ll be ready to enter repayment on the first due date.

How do you pay back student debt?

How to Pay Off Student Loans Fast

  1. Make extra payments the right way.
  2. Refinance if you have good credit and a steady job.
  3. Enroll in autopay.
  4. Make biweekly payments.
  5. Pay off capitalized interest.
  6. Stick to the standard repayment plan.
  7. Use ‘found’ money.
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