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ERIC Number: ED515843
Record Type: Non-Journal
Publication Date: 2010-Dec
Pages: 28
Abstractor: ERIC
Reference Count: N/A
Exit Counseling Guide for Federal Student Loan Borrowers
Federal Student Aid, US Department of Education
Student loans, unlike grants and work-study, are borrowed money that must be repaid, with interest, just like car loans and home mortgages. You cannot have these loans canceled because you didn't like the education you received, didn't get a job in your field of study or because you're having financial difficulty. Loans are legal obligations that you'll have to repay. Exit counseling is required before you withdraw, graduate, or drop below half-time attendance (even if you plan to transfer to another school), helps you understand your rights and responsibilities as a student loan borrower, and provides useful tips and information to help you manage your loans. This federal student loan guide provides information on getting started, repaying your loan, what to do if you have trouble making payments, and discharge and forgiveness. Additional resources, a Borrower's Rights and Responsibilities form, and a Student Contact Information form are also included.
Federal Student Aid, US Department of Education. Available from: ED Pubs. P.O. Box 1398, Jessup, MD 20794-1398. Tel: 800-730-8913; Tel: 319-337-5665; e-mail:; Web site:
Publication Type: Guides - Non-Classroom
Education Level: Higher Education; Postsecondary Education
Audience: Students
Language: English
Sponsor: N/A
Authoring Institution: Federal Student Aid (ED)
Identifiers - Laws, Policies, & Programs: Federal Direct PLUS Loan Program; Federal Direct Student Loan Program