Your question: What are references for student loan exit counseling?

At the end, you’ll need to provide the name, address, email address, and telephone number for your closest living relative, two references who live in the U.S., and your current or expected employer, if known.

Why do I need references for student loan exit counseling?

Why do I have to enter references? Federal regulations require postsecondary schools to collect reference and next of kin information during entrance and exit counseling so your loan holder will have additional contacts in case they’re unable to reach you in the future.

What are references for student loans?

Reference. A person you list on a loan promissory note as someone who knows and can provide information about you. References are not co-borrowers and are not responsible for repaying the loan.

Do you have to do student loan exit counseling?

Exit counseling is required for all federal student loan borrowers. Borrowers who received a subsidized, unsubsidized or PLUS loan under the direct loan program must complete exit counseling when they drop below half-time enrollment, leave school or graduate.

What is loan exit counseling?

The purpose of exit counseling is to ensure you understand your student loan obligations and are prepared for repayment. You’ll learn about what your federal student loan payments will look like after school. We’ll recommend a repayment strategy that best suits your future plans and goals.

THIS IS IMPORTANT:  Do college professors work hard?

What happens if you don’t do exit loan counseling?

Exit counseling is required by federal law. What happens if you don’t complete it depends on your school. Typically, the Bursar’s office will put your transcripts and diploma on hold until you finish exit counseling. Generally, you’ll still be able to graduate.

What are the references for exit counseling?

Exit Counseling



At the end, you’ll need to provide the name, address, email address, and telephone number for your closest living relative, two references who live in the U.S., and your current or expected employer, if known.

What are the 4 types of student loans?

There are four types of federal student loans available:

  • Direct subsidized loans.
  • Direct unsubsidized loans.
  • Direct PLUS loans.
  • Direct consolidation loans.

What are the 3 types of student loans?

There are three types of federal student loans:

  • Direct Subsidized Loans.
  • Direct Unsubsidized Loans.
  • Direct PLUS Loans, of which there are two types: Grad PLUS Loans for graduate and professional students, as well as loans that can be issued to a student’s parents, also known as Parent PLUS Loans.

Do references get notified?

Nearing the End of the Hiring Process



References are often conducted once an employer is interested in a candidate (although it depends on each employer). … Employers know that your “references will be available upon request” – and if they are interested in reaching out to them, they’ll call for them.

What is an exit interview for student loans?

An exit interview is a loan counseling session in which you are advised of your loan repayment schedule, obligations, and rights to deferment and/or cancellation. Your school is required by the federal government to conduct this exit interview whenever you are no longer enrolled as at least a half time student.

THIS IS IMPORTANT:  You asked: How much harder is college than HS?

What happens after exit counseling?

It goes over all of your options for student loan repayment, including the standard plan and income-driven repayment. This stage also has a repayment calculator so you can estimate your monthly payments on each plan. You’ll enter information like your projected annual income and monthly housing costs.

Easy student life