Definitions for "Exit Counseling"
Submenu A group or individual session during which borrowers who are leaving school or dropping below half time enrollment receive important information about their repayment obligations and update information about themselves.
An educational session that Stafford loan borrowers must fulfill around the time of graduate or separation from a college.  The Exit Counseling session provides the borrower detailed information about the loans he/she borrower, the company that will collect the payment and the repayment alternatives that are available.
An online session during which Federal Direct Loan borrowers who are graduating, leaving school or dropping below half-time enrollment receive important information about their repayment obligations and their rights and responsibilities. Failure to complete a Direct Loan exit counseling session will result in withholding of your diploma, financial aid funds, and official transcript. If you are graduating and have a Perkins Loan, you must also complete an Online Exit Interview at Student Loan Services.