Exit Counseling

SAGU must provide counseling to borrowers of loans under the FFEL, Federal Direct Loan, or Perkins Loan programs (other than consolidated or Parent PLUS loans) shortly before the student borrower ceases at least half-time study at the institution. SAGU meets this standard by notifying each borrower that ceases at least half-time enrollment of their requirement to complete loan exit counseling online at www.studentloans.gov . The counseling will provide information on:

  • average anticipated monthly repayment amount;
  • repayment plan options;
  • options to prepay or pay on shorter schedule;
  • debt management strategies;
  • use of Master Promissory Note;
  • the seriousness and importance of student's repayment obligation;
  • terms and conditions for forgiveness or cancellation;
  • copy of information provided by the Department of Education;
  • terms and conditions for deferment or forbearance;
  • consequences of default;
  • options and consequences of loan consolidation;
  • tax benefits available to borrowers;
  • the obligation of the borrower to repay the full amount of the loan regardless of whether the borrower completes program or completes within regular time for completion, is unable to obtain employment upon completion, or is otherwise dissatisfied with or did not receive the educational or other services the borrower purchased from the institution;
  • availability of the Student Loan Ombudsman's office; and
  • information about the NSLDS. The Department of Education is required to provide a disclosure form for students and prospective students about the NSLDS (HEOA Sec. 489(3), HEA Sec. 485B).
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