Mapping Your Future: Online Counseling
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Direct Loan Exit Counseling

South Dakota School of Mines & Technology in Rapid City, SD

 

 

 

 

Welcome to on-line Exit Loan Counseling for the Federal Stafford and/or Direct Loan Program. The U.S. Department of Education requires that students who have graduated, or cease to be enrolled at least half time must complete Exit Loan Counseling in order to ensure that you understand your Rights and Responsibilities regarding the repayment of your student loan(s). Once you have completed loan counseling, our office will receive an automated notification that this requirement has been met.

The average Stafford/Direct Loan indebtedness for School of Mines students graduating during the 2012-13 Academic year with a Baccalaureate Degree was approximately $26,062; however, your level of borrowing may have been more or less. Based on this level of loan debt and an assumed interest rate of 6.8%, you could pay up to $299.92 per month over the course of a 10 year repayment.

The School of Mines Financial Aid Office is located in the O'Harra Administration Building, with access through the Admissions office Room 200. Our academic year office hours are 7:30am to 4:30pm Monday through Friday and summer hours are 7:30am to 4:00pm Monday through Friday. You are more than welcome to come in or call us locally at 605-394-2274 or toll free at 1-877-877-6044 or send an e-mail to FinancialAid@sdsmt.edu with questions or concerns regarding your student loan(s).

Financial Aid


MYF Disclaimer:

The information above is wholly the product of the school or organization represented herein. Mapping Your Future, and its individual sponsoring members, do not guarantee or warrant the correctness, completeness, accuracy, or any other characteristic of this content and shall not be liable for any loss, damage, or cause of action arising out of the content.


Direct Loan Exit Counseling Session Instructions

Before You Start

  • Ensure you meet the browser and system requirements:
    • You must use at least Internet Explorer 7.0 or the newest version of Mozilla Firefox or Google Chrome. Get a browser now.
    • You can use any Internet service provider (ISP) to connect to the Internet; however, you should access this counseling session using one of the browsers above after you've connected. Do NOT use the ISP's browser, such as AOL or MSN--you won't be able to complete the student form at the end of the session!
    • You must enable JavaScript in your browser.
    • If you encounter that the question numbers are not displaying correctly when you answer a question incorrectly, ensure that Java is enabled on your browser and try another browser (such as Firefox or Chrome), if the issue persists.

  • PARENTS: Please don't complete the counseling session on behalf of your son or daughter, as this federal requirement helps the student understand the rights and responsibilities of borrowing a student loan.

  • You will need about 25 minutes to complete this counseling session.

  • You will need the following information:
    • Your Social Security number
    • Your driver's license number
    • Name, address, telephone number, and employer for your next of kin
    • Names, addresses, telephone numbers, and employers for two references residing at different addresses

  • You might need the following information:
    • Name, address, telephone number, and employer for your parent, if applicable
    • Name, address, telephone number, and employer for your spouse, if applicable
    • NOTE: Providing names and information for your spouse, parent, next of kin, and references does not obligate them to assist with repayment of your loan. Regulations require you provide this data so your loan holder can locate you, if, in the future, they have an invalid address or phone number.

  • The student loan calculator in this session will help you calculate your estimated monthly payment. If you aren't sure how much you'll borrow, you can ask your school for the average student loan indebtedness of borrowers at the school or in your program of study at the school.

What to Do

  • Read the content and answer the questions.
  • Fill out the student information form. Use the comment box for any comments or questions you have for your school.
  • Print the confirmation page that appears after you fill out the student information form or note your confirmation number for your records.

NOTE: Generally, the Back and Forward buttons on your browser will not work once you begin the counseling session.  Use the buttons within the counseling to navigate.

NOTICE: The information you provide for loan counseling may be disclosed to third parties, such as your lender, lender servicer, school servicer, subsequent loan holder, or guarantor, as authorized under routine uses in the appropriate system of records and as may be authorized or required by federal regulations.