Lake Superior State University
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Financial Aid

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

CAUTION: 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.

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