The federal government requires that borrowers who have a break in enrollment, drops below half time status, or graduates, complete Federal Loan Exit Counseling. This requirement applies even if you intend to return to Chapman University following a leave of absence, for any extenuating circumstances.
Federal Loan Exit Counseling can be completed online at studentloans.gov (Federal Student Aid - Direct Loans) by logging in with your FSA username and password and selecting “Complete Counseling” then select "Exit Counseling".
In addition, you will need your federal PIN, the name, address, and telephone number of your next of kin, two references, and your employer after graduation (if you have one). You will also need to report the total amount of educational loans you have received from each loan program and the current interest rate.
Information regarding all of your individual student loans can be seen, in detail, on nslds.ed.gov.
The Federal Loan Exit Counseling is similar to Federal Loan Entrance Counseling. A step by step tutorial regarding the borrower’s rights and responsibilities will be given, followed by a short quiz.
Once completed, it will generate an electronic statement of completion. These electronic statements are pulled down into Chapman University’s system twice a week. After the electronic statement reaches our system, it may take up to two additional days to process.
Please be aware that this is ONLY for Federal Direct Loans. Other loans, such as the Chapman Interest-free and Perkins loans have their own requirements that must be met.