Direct Loan Exit Counseling
Northern State University
It is a federal government requirement that borrowers who have graduated or enroll less than half-time complete student loan exit counseling. The required exit interview will help you understand your rights and obligations as a student loan borrower.
2007 NSU graduates' average loan indebtedness is $21,268 in federal student loans. The repayment for those loans, using a fixed interest rate of 6.8%, would be approximately $244.75 per month for 10 years.
You will be asked for the amount of your loans and the lender when you do the exit counseling session. This information is available on the federal government's central database, National Student Loan Data System (NSLDS). You can access all information about your loans with the federal PIN that you used to do your FAFSA. The website www.nslds.ed.gov will always give you the most updated information about your loans.
Along with information about your loans, be prepared to provide:
Your Social Security number
Your driver's license number
Your permanet mailing address and phone number
Your parent's (or closest relative's) name, address and phone number
Your expected employer and address and phone number (Enter "unknown" if you don't have one yet)
The names, addresses and phone numbers of TWO references at different addresses
If you have any questions once you have completed your exit counseling requirement please feel free to contact our office. Our office hours are Monday through Friday from 8:00 a.m. to 5:00 p.m. You can reach us by calling 1-800-678-5330 or (605) 626-2640 or emailing us at firstname.lastname@example.org.
In the future, if you have problems repaying your loans, you should contact the school, lender, guarantor or servicer of your loans for assistance. If you feel that you still need assistance, there is a federal resource available to help resolve your problem. You can contact the SFA Student Loan Ombudsman toll-free at 1-877-557-2575.
NSU Financial Aid
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 a recent version of a commonly used browser, such as Microsoft Edge, Google Chrome, Firefox, or Safari.
- 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, 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.