Welcome to the Manhattan College Exit Counseling Session.
One of your responsibilities as a student loan borrower under the Federal Family Education Loan Program (FFELP) is to perform Stafford Exit Counseling if you separate from the College (graduate, withdraw, cease to be enrolled at least half-time). Exit counseling can be completed online by following the directions listed on the bottom of this page. You can also attend an in-person Exit Counseling Workshop (available Spring dates will be emailed to potential May 2009 graduates).
Included in the mandatory counseling session are some very important facts regarding student loans. You must complete this Exit counseling. It is Manhattan's policy that may not receive grades, transcripts, or even your diploma without completing this counseling session since completion is mandated by the federal government.
Student Financial Services will be notified automatically within 24 hours from the time you have completed your counseling. You may print out proof of completion if you need proof for the graduation clearance process.
Contact Information: For questions regarding your rights and responsibilities, you should contact the Director of Student Financial Services - Edward Keough at 718-862-7100.
Half-time Enrollment: Manhattan College considers half-time to enrollment to be 6 credits per semester. Courses from August to December count toward Fall semester enrollment, courses from January to May count for Spring semester enrollment. Six credits of enrollment during any summer session (May/June (I), June/July (II) or July/Aug (III) will also count as half-time enrollment.
Withdrawal from the College: It is important that you notify the Office of the Dean of your school if you wish to withdraw. An official "Complete Withdrawal for Registered Students" is available from your Academic Advisor's Office. This form must be submitted. Your Dean's Office will then route it to the Registrar for final processing. The complete withdrawal policy is found in the College catalog.
Average Indebtedness: For the students graduating in 2009, the average Stafford loan indebtedness is $11,450.
Sample Monthly Repayment Amounts: Since loans must be repaid, it is important to consider the amount of monthly payments that your total borrowing will require. Using $11,450 as an average, a Stafford Loan borrower at 6.8% interest over 10 years would pay $131.77 per month, paying $4361.88 in interest over the life of the loan, for a total repayment amount of $15,811.88. Students can opt to make larger monthly payments, review options for graduated repayment or income-contingent repayment, or prepay portions of the loan without penalty. You can access the following link to calculate sample repayment data using your loan indebtedness amount: http://www.finaid.org/calculators/loanpayments.phtml
For detailed information regarding your Title IV loans (Stafford, Perkins, or PLUS), you can log on to www.nslds.ed.gov. You will need a pin number to access the web site. You can receive a pin at www.pin.ed.gov.
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The information above is wholly the product of the school represented herein.
Mapping Your Future, and its individual sponsoring members, do not guarantee
or warrant the correctness, completeness, accuracy, or any other characteristic
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Stafford Exit Counseling Session Instructions
Before You Start
Ensure you meet the browser and system requirements:
You must use at least Internet Explorer 6.0 or Mozilla Firefox 1.0. 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.
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.