All students who graduate, withdraw from all coursework, take a leave of absence or cease to be enrolled at least half-time in any term, and who have borrowed from the Federal Direct and/ or Federal Graduate PLUS Loan program must complete Loan Exit Counseling. Loans are legal obligations that you have to repay, and completion of Loan Exit Counseling is a federal requirement. Loan Exit Counseling will help you understand your rights and responsibilities as a student loan borrower, and will provide useful tips and information to help you manage your loan debt. In turn, you must provide your lender with certain information about your plans after you leave school.
You will receive notification of your Loan Exit Counseling requirement through a hard copy letter that will be sent to your permanent address on file with the Office of the Registrar. It is your responsibility to ensure that your contact information is up to date. Students may change their permanent, mailing, and billing addresses through PROWL. The University assumes no responsibility for materials sent through the mail that are not received. LMU will also post Loan Exit Counseling as a missing financial aid requirement on your PROWL account at the time the letter is sent.
Before you begin your Loan Exit Counseling session, make sure to have your driver’s license, Social Security number, and your permanent address handy. You will also need to bring the name, address and telephone number of your expected employer (if known), as well as the name, address and phone number of your closest relative. Loan Exit Counseling also requires contact information for two personal references.
To complete the federal loan exit counseling requirement, visit the Federal Student Aid website online at www.studentloans.gov. Sign in with your information and click on the option to “Complete Counseling” at the bottom of the page. You will need to have a personal identification number (PIN) to access the Federal Student Aid website. If you have forgotten your PIN and need it reissued or if you need to obtain a PIN, you may do so at: www.pin.ed.gov.
Remember: Completion of Loan Exit Counseling on studentloans.gov does not fulfill Exit Counseling requirements for LMU Institutional Loans, Federal Perkins or Private Student Loans borrowed during the course of your enrollment.
Important! Loan Exit Counseling is required even if you plan on returning to school after your leave of absence, or enrolling in graduate work upon completion of your degree. Complete Loan Exit Counseling as soon as possible after receiving the loan exit notification. The Financial Aid Office will receive an electronic confirmation once you have successfully completed the Exit Counseling via the Federal Student Aid website, but we recommend you keep a copy of your completion confirmation for your records as well.
The Financial Aid Office is here to assist you with any questions you may have after completion of your Loan Exit Counseling requirement. Please call us at (310) 338-2753, email us at firstname.lastname@example.org, or stop by our office in Von der Ahe 270 during business hours to meet with a Financial Aid Counselor. Appointments are not required.
LMU Institutional Loans and/or Federal Perkins Loan
If you have been awarded an LMU Institutional Loan (Federal Perkins Loan, LMU California Student Loan, Fritz B. Burns Student Loan, Jack Shandler Student Loan or Miyawaki Student Loan) you must also complete Loan Exit Counseling. Online exit counseling at the Federal Student Aid website does not fulfill your exit counseling requirement for an institutional loan. For more information, please visit the Loan Office website: http://bus.lmu.edu/controller/osfs/loanoffice/ or call them at the numbers below:
Last Name A-M: (310) 338-1942
Last Name N-Z: (310) 258-5449