Exit Loan Counseling

Attend an Exit Loan Counseling SessionDear Student,

This letter is to provide you with information concerning student loans you received at NDNU. As a requirement of having student loans, after leaving a post-secondary institution, borrowers must complete a student loan exit interview.

The exit session will show you:

  • History of your student loans from all your federal lenders including loan amounts, the loan servicer and contact information is also available to you at www.nslds.ed.gov. As you learned on your Entrance and Exit Interviews a student has options to defer repayment of loans for some circumstances. You have a six month grace period for your Stafford Loans but your Grad PLUS loan goes into repayment within sixty days.
  • The online Exit Counseling provides students with explanations, obligations and options for repayment, deferment, forbearance, discharge, consequences of default, explanation of your Master Promissory Note, sample loan repayment tables (please note that sample repayment charts typically show payments based on a ten year repayment program), debt management to facilitate repayments and consolidation of student loans, information on the federal government’s student loan ombudsman, an explanation of who’s who in the student loan process and a federal student loan refresher with plain language on the types of student loans
  • Information on various types of payment plans as well as loan forgiveness options is available at www.ibrinfo.org. There is also information on the new income-based repayment plan for federal student loans and the Public Service Loan Forgiveness

One of the main purposes of the Exit Interview Process is to keep students informed on their rights and responsibilities.

As a student loan borrower, you have the right to:

  • Receive written information on your loan obligations including your options for loan consolidation and refinancing
  • Receive a copy of your promissory note
  • Receive a repayment schedule and detailed information about interest rates, the balance you owe, and the repayment options available to you, prior to repayment
  • Receive written notification from your lender if your loan is sold or transferred
  • Repay all or part of your loan at any time without penalty
  • A grace period after you graduate or are enrolled less than half time and before you being repayment on a Stafford loan
  • Temporarily defer your monthly payment if you meet federal requirements
  • Receive a temporary period of suspended payments if you meet your loan holder’s forbearance criteria

As a student loan borrower, you have accepted the responsibility to:

  • Repay your loan(s) even if you do not complete your program, are unable to find employment after graduation, or are dissatisfied with or feel you did not receive the educational services you purchased from your school
  • Compete exit counseling before finalizing arrangements for graduation or withdrawal from school
  • Notify your loan holder promptly if you change your name, address, or phone number; graduate, transfer, or withdraw from school; or change your anticipated graduation date
  • Read and retain all of your financial aid and loan documents for future reference

More information and assistance is available from many student loan services and agencies such as:


Please feel free to contact the Financial Aid Office at NDNU if you have questions on your student loans. Good luck in your future endeavors.


Wilbert Lleses
Director of Financial Aid