For graduating students:
If you have applied for graduation and have received a Federal Direct or Federal 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.
For 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.
For 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 exit interview is required if you have participated in the Direct Loan Program and takes approximately 20-30 minutes to complete. The session is interactive and personalized with your actual outstanding Federal loan amounts. 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.
Take note of your loan repayment options including:
- Standard Repayment Plan
- Graduate Repayment Plan
- Extended Repayment Plan
- Income-Based Repayment Plan
- Income-Contingent Repayment Plan
- Income-Sensitive Repayment Plan
- Pay As you Earn
Visit Financial Aid TV to view useful videos about loan repayment and income-based repayment.
You will also be learning important information about:
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. 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.
Federal Perkins Loan Exit Counseling
If you have borrowed under the Federal Perkins Loan program, you will need to complete Perkins Loan exit counseling at University Accounting Service (UAS), the university's Federal Perkins loan servicer. Pay attention to all the information provided in your Perkins exit interview, and double check 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 will need to complete exit counseling for the TEACH Grant. Please visit the Department of Education's online exit tool for TEACH grant exit counseling. Once you complete this required exit interview, our office will be automatically notified.