Exit Counseling

What is Exit Counseling?

Exit Counseling is a program instituted by the Federal Government to help students understand the repayment period as they are entering it. Exit counseling is required of all students that graduate, withdraw, or drop below half-time attendance (regardless if you plan to transfer to another school). Regulations require that you complete an exit counseling session for your Federal Stafford Loan (subsidized or unsubsidized) and Perkins loans (if applicable).

During your Exit Counseling you will be given the following information:

• Names of your lender(s) and Guarantor(s)
  
• Telephone numbers for each
  
• Loan amount, interest and estimated monthly payment for each loan
  
• Name, address and telephone number of the nearest relative and two other references
  
• Name, address and telephone number of expected employer (if known)
  

You will get all of this information when you begin to do your counseling. If you need this information at another time, you can obtain it at the National Student Loan Data System.

Exit counseling will provide you with:

• Information on how to manage your student loan repayment
  
• Your rights & responsibilities as a borrower in the federal student loan program
  
• Forbearance, deferment, hardship, disability, discharge and forgiveness information
  
• Other important loan servicing and default consequence information

Please select the appropriate exit counseling for the loans you have received while attending Montclair State University:

• Federal Stafford Loans (Subsidized and Unsubsidized)
  
• Federal Perkins Loan
  

Please print a copy of your exit counseling completion for your records.