Loan exit information for graduating students, students leaving DePaul, or students who are enrolled less than-half-time

Graduating students: If you have applied for graduation and have received a Federal Direct of Perkins Loan, or a Federal TEACH grant, you are required to complete loan exit counseling prior to your graduation. It is very important that you complete this federally-required exit counseling because it will help you understand the next steps with your federal student loans and/or TEACH grant.

Students leaving the university: If you are leaving DePaul, either permanently or for a period of time, you should complete the federally-required exit counseling session for any federal student loan or TEACH grant you may have received.

Students enrolled less-than-half-time: If you are enrolled less-than-half-time, either permanently or for a period of time, you should complete the federally-required exit counseling session for any federal student loan or TEACH grant you may have received.

Federal Direct Loan Exit Counseling

The Department of Education provides an easily-accessible online exit counseling process. This online exit interview is required if you have participated in the Direct Loan Program. If you would also like to have an in-person loan exit counseling session in addition to your online session, you are welcome to meet with a financial aid counselor. Financial Aid counselors are available on a walk-in basis at DePaul Central, both Loop and Lincoln Park locations.

 

The Direct Loan online exit counseling session is interactive and personalized. The session will use your actual outstanding loan amounts during your exit counseling session. Please allow approximately 20-30 minutes to complete the online session. The Office of Financial Aid will receive confirmation upon your completion of this requirement. 

As you complete your exit counseling, pay special attention to the topics below:

  • Take note of your loan servicer: this is the company that handles the billing and other services for your Federal Direct Loan. Your loan servicer will work with you on repayment plans and loan consolidation and will assist you with other tasks related to your federal student loan. It is important to maintain contact with your loan servicer. If your circumstances change at any time during your repayment period, your loan servicer will be able to help.
Visit our Financial Aid TV webpage to view useful videos about loan repayment and income-based repayment.

It is very important that you understand all of your repayment options and that you do not hesitate to contact your loan servicer if you have questions about the best way to repay your loans or consolidate your loans. Also, do not hesitate to ask questions of the financial aid staff if you are uncertain of your next steps, or if you do not understand any of the information presented in the exit process: we will be glad to be of assistance.

A excellent resource for all types of loan repayment information is  Federal Student Aid.

Federal Perkins Loan Exit Counseling

If you have borrowed under the Federal Perkins Loan program, you also will need to complete separate Perkins Loan exit counseling at University Accounting Service (UAS), the university's Federal Perkins loan servicer. Be sure to pay attention to all the information provided in your Perkins exit interview, and make sure that all your information is current with UAS, as they will be handling the repayment of your Perkins Loan.

Once you complete this required exit interview, our office will be automatically notified.

Federal TEACH Grant Exit Counseling

If you have received the Federal TEACH Grant, you also will need to complete exit counseling for the TEACH Grant. Please visit the Department of Education online exit tool at NSLDS ​and follow the links for TEACH grant exit counseling.

Once you complete this required exit interview, our office will be automatically notified. 
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