Leaving the University - Exit counseling
Exit counseling sessions are required of all borrowers from federal and University-administered loan programs. The format differs depending on the type of loan. In either case, exit counseling provides you information regarding the rights and responsibilities of a borrower and a lender/servicer. You learn about repayment, deferment, and cancellation of your loan. These sessions prepare you to be responsible and effective in repayment of your educational loans.
You are required to attend exit counseling when you:
- are about to graduate.
- leave the University (even if it is just temporary).
- drop your registration below half-time enrollment.
- transfer to another school.
- leave for a National Student Exchange (NSE) experience.
Direct Loans
The Department of Education provides online exit counseling for the following programs.
- William D. Ford Federal Stafford Subsidized Loan Program
- William D. Ford Federal Stafford Unsubsidized Loan Program
Complete your Direct Loan exit counseling online
University-administered loans
Student Account Assistance (SAA) staff provides exit counseling sessions for University-administered loan programs such as:
- Federal Perkins Loan
- Health Professions Student Loan
- Nursing Student Loan
- Primary Care Loan
- University Trust Fund Loan
These sessions inform you about repayment terms, including length, interest rate, outstanding balance, and payment amounts. Federal regulations and University policy require SAA to maintain documentation that you attended an exit counseling, so you will be required to complete and sign various forms. If you do not complete the paperwork, a hold will be placed on your record. If you have Federal Direct loans, SAA will provide you with general information and counseling, but you are still legally required to complete the online Direct Loan exit counseling.
Events / Locations
- Grad Fest, an annual event for graduates held each spring semester in the Great Hall, Coffman Memorial Union. Look for announcements in the Minnesota Daily.
- Student Account Assistance Office in 211 Science Teaching & Student Services, East Bank campus. Walk-in exit counseling available anytime during office hours, 8 am to 4 pm, Monday-Friday; no appointment necessary.
- Law, veterinary medicine, dentistry and medical students: Exit counseling will be scheduled in your respective schools. You will be notified in the spring of the time and location.
