Anonymous
Anonymous asked in Education & ReferenceFinancial Aid · 9 years ago

Stafford Loan Exit Counseling?

I transferred schools this past January and now I got a notification to complete exit counseling because the gov things I'm not enrolled in school anymore? How do I go about telling them that I'm enrolled elsewhere? I completed the FAFSA with my new school so I don't understand why I got this notification...

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  • nancy
    Lv 7
    9 years ago
    Favorite Answer

    It's just an automatic notification. Right now, even though you may have sent a FAFSA to another school, you are in the grace period for your loans from the first school. Whenever a student graduates or stops attending school, you are required to participate in exit counseling so you will have information about your loans and your rights and responsibilities concerning repayment. Once you start classes in your new school, you can apply for an in-school deferment that will postpone your having to begin repayment. However, since the Dept. of Ed. doesn't know whether you will actually start or not, they are sending you the notice so you have access to the information before your grace period expires.

    Even if you're planning to return to school and defer your loans, it's a good idea to take the exit counseling anyway. It doesn't take long, and it gives you a good idea of where you stand now, what you need to do, and what your rights are if you have an issue with the first school.

  • 4 years ago

    i do now not comprehend the way how have been given you that lots! i'm sorry, yet one hundred and seventy,000 in student loans as quickly as you probable did now not circulate to a minimum of a few thing like med college is an rather stupid and irresponsible ingredient of do. I pay attention each and all the time courtroom circumstances from my mom, how am I going to pay my loans returned via fact i'm majoring in subject concerns like German, and that i basically have a fragment of what you have. the only ingredient i'll think of of of is consolidating them to decrease money. For some loans you'll be able to with a definite activity or via redesigning right into a member of the peace center between diverse subject concerns forgive various your loans, i can't have the capacity to undergo in suggestions if that utilized to stafford or now not. consistent with possibility you'll be able to discover your suggestions with the persons issuing the loans or a debt counselor.

  • 9 years ago

    you got this notification because your old school reported to the Dept of Education you left. It is YOUR responsibility to contact your lenders and tell them (and prove to them) you are still enrolled. Call them, they aren't going to bother calling you. You also need to be aware that if you don't your payments WILL be expected and when you don't pay they will start counting down the months til you go into default. You would think that everyone talks to each other regarding your continued enrollment. But they DON'T.

  • Anonymous
    6 years ago

    I have no idea!!

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