Direct Loan Exit Counseling
Federal regulations require all students who have received Federal Direct
Loans (subsidized and/or unsubsidized) to have loan exit counseling for
the following reasons:
- Student has graduated
- Student is attending less than half-time
- Student is not returning to LSSU
Students who fall into one of these three categories must complete exit counseling which explains the basic facts about repayment of Direct Loans along with the student's rights and responsibilities as a borrower.
Other important topics such as deferment, consolidation, and default are
discussed. This information will help you to manage the repayment of your
student loan debt and to avoid any difficulties that could adversely affect
your credit rating or your eligibility for student loans and other aid
in the future.
Complete the exit counseling online at http://www.studentloans.gov
Consolidation of Federal Student Loans through a private loan company will convert the federal student loans to private loans. You will lose all Federal deferment, forbearance, and forgiveness options.
If you have any questions, please contact us by phone at (906) 635-2678
or by fax at (906) 635-6669.