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Exit Counseling

Exit Counseling

  • Exit Counseling is a requirement by the Department of Education for all undergraduate and graduate students who have borrowed a Federal Student Loan and are graduating from their program of study, leaving school, or dropping below half-time enrollment for any reason.
  • Exit Counseling can be found at studentaid.gov under the dropdown “MANAGE LOANS”. There will be a link that says “Complete Exit Counseling”. You can also find out who your Loan Servicer is under “MANAGE LOANS”.

Important Links:

  • Shenandoah University Exit Counseling Document
    • This document answers some FAQ surrounding Federal Student Loans. This is a fillable document that can help you keep a record of who your loan servicer is, when your monthly loan payments are due, etc.
  • Repayment: What to Expect
    • This short video clip explains when Repayment begins for students who have borrowed Federal Aid and gives an overview of Repayment Plan options that are available.
  • Student Loan Repayment Options
    • This video gives a more in depth explanation of the Repayment Plan options available for your Federal Student Loans.
  • Federal Student Loan Forgiveness
    • This link explains what Student Loan Forgiveness is and goes over the different types of Forgiveness available that you may qualify for.

Federal Nursing Loan:

  • Students have a 9-month grace period after they graduate, leave school or drop below half-time status, before entering repayment.
  • Students may have longer than 9 months if they are on active duty in the military. 
  • Students may be allowed up to 10 years to repay.
  • Students should contact ECSI (Heartland) – 1-888-549-3274, to make repayment plans

Federal Perkins Loan:

  • Students have a 9-month grace period after they graduate, leave school or drop below half-time status, before entering repayment.
  • Pay As You Earn (PAYE), Revised Pay As You Earn (REPAYE), and Income Based Repayment (IBR) repayment options are not available to Federal Perkins Loan borrowers. However, if a borrower’s Federal Perkins Loan is consolidated into a Federal Direct Consolidation Loan, then some of these repayment options may become available. 
  • Public Service Loan Forgiveness is not available to Federal Perkins Loan borrowers. However, if a borrower’s Federal Perkins Loan is consolidated into a Federal Direct Consolidation Loan, then this loan forgiveness may become available. 
  • Students should contact ECSI (Heartland) – 1-888-549-3274, to make repayment plans

Private Lenders Contact Information for Repayment:

  • Private/ Alternative loans are not part of the Federal Student Aid Program. 
  • To make payments on these loans you will need to contact your private loan lender directly and set up a repayment plan. 
  • These loans may not have the same grace period as Federal Direct Loans.