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Author Topic: Loan Exit Counseling?  (Read 777 times)

Floyd77803

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Loan Exit Counseling?
« on: July 31, 2007, 02:58:44 PM »
I am transferring to a new school so I recently withdrew from my original school.  I got a notice in the mail today saying that I was required to complete Stafford and GRAD Plus exit counseling online.  Is this something I need to do even though I'm starting at a new school in a month? I've already applied for loans at my new school, will this affect my eligibility? My old school also said that if I didn't complete it in 45 days they would put a hold on my account.  I'm leaning towards completing the online forms; I need to have access to my transcripts w/ OCI coming up. 

I'm getting pretty frustrated w/ this whole student loan process.  I already had to apply for a forbearance on my grad plus loan because my lender got notice from my school that my enrollment ended on the last day of finals, even though I had not withdrawn and had every intent of going back to school in the fall.  I was under the impression that it is normal to not take summer classes during law school but the people at Citibank acted as if I had graduated or dropped out.   

littlelisalaw

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Re: Loan Exit Counseling?
« Reply #1 on: July 31, 2007, 03:37:26 PM »
My understanding is that there is a "clearinghouse" so to speak that the school reports to that updates the lenders as to school status.  Has your new school notified anyone to keep up the deferal that you will be attending full-time?

Floyd77803

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Re: Loan Exit Counseling?
« Reply #2 on: July 31, 2007, 10:09:02 PM »
That is also my understanding.  The registrar reports that I'm enrolled full time and my loans go back into in-school deferment.  This is my confusion, I'm still in school with active loans, so why would I need to do the "exit counseling"? I may just do the online form to appease my old school and avoid a hold on my account, I just hope it doesn't affect my loans for the coming semester.

John Galt

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Re: Loan Exit Counseling?
« Reply #3 on: August 02, 2007, 11:25:11 AM »
Exit interview is cheezy, you might just want to do it to make sure their are no problems. Its not really an interview, they just tell you your outstanding loans, monthly payments, and (of course) try to get you to consolidate.

patrick

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Re: Loan Exit Counseling?
« Reply #4 on: August 02, 2007, 11:33:12 AM »
Just do the exit loan counseling.  It will take you ten minutes online.  I will close you out with your old school, but it shouldn't affect your status at your new school.