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.
Income Shared Agreements (ISA’s):
- If you participated in an ISA while at Shenandoah, by the end of your 6-month grace period, upload your income verification documents to SU’s student portal at https://su.vemo.com
- Make timely monthly payments, based on your income share and reported income.
- Only make payments when income exceeds…
- $3,333.33/month for Accelerated Second Degree Nursing ISA
- $1,666.67/month for our Last Mile ISA.
- Vemo Education will send you monthly reminders. https://vemoeducation.com/
- Report all changes of employment and income, providing acceptable income documentation.
- Continue making payments until you hit your payment cap, make the maximum number of monthly payments, or reach the ISA expiration date.
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.
- For your convenience, we have included the contact information for the most commonly used private lenders at Shenandoah University below.
Ascent: (877) 216-0876
ascentstudentloans.com/terms-conditions
Citizens Bank: (888) 538-7378
citizensbank.com/student-lending
College Ave: (844) 803-0736
collegeavestudentloans.com/resources/repaying
Discover: (800) 788-3368
discover.com/student-loans/repayment
LendKey: (888) 966-9268
MEFA: (800) 233-0557
mefa.org/managing-loan-repayment
PNC: (800) 762-1001
pnc.com/en/personal-banking/borrowing/student-loan-center
Sallie Mae: (800) 472-5543
Wells Fargo: (800) 658-3567