Federal loan exit guidance provides information that is important prepare one to repay your federal figuratively speaking. For subsidized and unsubsidized loans, you need to finish exit guidance every time you: fall below half-time enrollment, graduate or keep college.
Exit guidance describes your legal rights and obligations as pupil loan debtor and offers:
- Your outstanding loan stability
- An believed payment per month quantity
- A reason of this different payment plans
- Benefits and drawbacks of loan consolidation
- Information loan that is regarding, deferments, and forbearance
The type(s) of loan exit guidance you have to finish is determined by which federal loan( that is educational) you have got lent.
Virginia Western will not immediately award Federal Direct Student Loans. Students who wants to get a Direct scholar Loan must submit a Federal Direct scholar Loan Request Form (PDF).
For more information about Direct Loans (including interest that is current), visit https: //studentloans.gov/myDirectLoan/index. Action or the educational funding workplace.
For all about consolidating an existing Stafford Loan with a Direct Loan, visit https: //studentaid. Ed.gov/sa/repay-loans/consolidation or call 800-557-7392 (TDD/TTY: 800-557-7395).
To request a Direct scholar Loan, pupils must meet with the exact exact exact exact same eligibility that is basic as other detailed school funding and sign up for no less than 6 monetary aid-eligible credits.
- Complete a complimentary Application for Federal scholar help or Renewal Application.
- If you’re a first-time Direct Loan debtor and have perhaps perhaps not gotten a Stafford Loan, complete Direct scholar Loan Entrance Counseling. (more…)