Federal Direct Loan Exit Counseling Guide - devryonline.biz · 2 In New York, DeVry University...

Direct Loans is a registered trademark of the U.S. Department of Education. 1 In New York, DeVry University operates as DeVry College of New York. DeVry University is accredited by the Higher Learning Commission (HLC), hlcommission.org. Keller Graduate School of Management is included in this accreditation. DeVry is certified to operate by the State Council of Higher Education for Virginia. Arlington Campus – 2450

Crystal Dr., Arlington, VA 22202. DeVry University is authorized for operation by the THEC, tn.gov/thec. Nashville Campus – 3343 Perimeter Hill Dr., Nashville, TN 37211. 2017 DeVry Educational Development Corp. All rights reserved.

Federal Direct Loan® Exit Counseling Guide

This guide is designed to walk you through how to complete Federal Direct Loan Exit Counseling. If you run into difficulties with any of the steps in this guide, please call the U.S. Department of Education’s Student Loan Support Center at 800.557.7394. Before you begin you will need:

Your FSA ID

The name, address, and phone number for two references Note: The entire Federal Direct Loan Exit Counseling process will need to be completed in one session. Any progress made towards completion will not be saved if you do not complete the process before leaving the website. The counseling session will take about 30 to 45 minutes to complete.

Step 1:

Federal Direct Loan Exit Counseling can be accessed at studentloans.gov; click on Log In.

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http://www.hlcommission.org/

http://www.tn.gov/thec

http://fsaid.ed.gov/

http://www.studentloans.gov/

2 In New York, DeVry University operates as DeVry College of New York. DeVry University is accredited by the Higher Learning Commission (HLC), hlcommission.org. Keller Graduate School of Management is included in this accreditation. DeVry is certified to operate by the State Council of Higher Education for Virginia. Arlington Campus – 2450


Federal Direct Loan Exit Counseling Guide

Step 2:

Enter your FSA ID Username and Password.

If you do not have an FSA ID, you can register at fsaid.ed.gov o If you are creating an FSA ID for the first time or if you do not link your FSA ID to a previously

existing Federal Student Aid PIN, it could take up to 3 business days for your FSA ID to fully activate and allow you to sign an MPN

Please use the links below if you already have an FSA ID, but forgot your username or password o Forgot My FSA ID Username

o Forgot My FSA ID Password

Note: An FSA ID will give you access to Federal Student Aid’s online systems and can serve as your legal signature.

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https://fsaid.ed.gov/npas/pas/pub/CreateAccount?appid=studentloans

https://fsaid.ed.gov/npas/pas/pub/ForgotUsername

https://fsaid.ed.gov/npas/pas/pub/ForgotPassword




Step 3:

Once you are signed in, you may be directed to select your communication preferences. Select the options that best suit you, then click Save and Continue. If you are not directed to this step, continue on to Step 4.

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Step 4:

Click on Complete Loan Counseling. You will be completing Exit Counseling.

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Step 5: Find the Exit Counseling option from the list, and click the Start button.

Step 6:

Choose School State Illinois and School Name DeVry University. Remember to click Add School once you populate the School State and School Name fields.

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Step 7:

Confirm that the correct school is selected and then click Continue.

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Step 8:

You will need to review all five categories starting with Understand Your Loans and finishing with Repayment Information. Each category will have Check Your Knowledge questions. You will not be able to proceed to the next category until each Check Your Knowledge question and estimator is filled out.

After you review the material and answer every Check Your Knowledge question in a category, click the Continue button located at the bottom of each category page to move forward.

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Step 9:

In the Plan to Repay category, you will have the ability to use an estimator to calculate your anticipated expenses and income. You will not be able to proceed forward to the next category until the estimator is completed. Your Monthly Loan Payment should already be calculated so go ahead and click on the tab 2. Estimate Other Monthly Expenses.

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Step 9 continued:

In the Other Monthly Expenses tab, type in your anticipated monthly expenses to generate your estimated budget. If any of your anticipated monthly expenses are zero, you must click within the field to designate the yearly amount. If you don’t click in every field, you won’t be able to proceed forward to the next category. Once you finish typing in your expenses, click on the third tab, 3. Estimate Your Monthly Income.

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Step 9 continued:

In the third tab, Your Monthly Income, input your Projected Annual Income. If you are uncertain of what your Projected Annual Income may be after you graduate from school, please visit the website, CareerOneStop. You will not be able to proceed forward with Exit Counseling if your expenses are higher than your income. If you know your Estimated Federal Withholding or Other Withholdings, please include those numbers in the appropriate fields below. If you do not know your withholding information, you can leave these fields as they are. The estimator will automatically provide you with common withholding percentages.

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http://www.careeronestop.org/SalariesBenefits/Sal_default.aspx




Step 9 continued:

To see what the differences would be between repayment plans, click back on the tab Your Monthly Loan Payment and view the section below titled Repayment Plan.

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Step 10:

After you finish reviewing the monthly payment estimator, continue through the rest of the Plan to Repay category by answering the Income-Driven Repayment Plans, Interest Savings Calculator, and Check Your Knowledge questions. Move on to the next category by clicking Continue.

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Step 11:

Next you will review the Avoid Default category. Be sure to complete the Deferment and Forbearance: Calculate the Costs and Check Your Knowledge questions before moving on to the next category.

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Step 12:

In the Make Finances a Priority category, you will have four Check Your Knowledge sections to complete. Answer each question correctly to proceed to the final category.

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Step 13:

In the Repayment Information category, enter you and your references’ information into the appropriate fields so that your loan servicer(s) can contact you regarding repayment of your federal student loan(s). Please do not leave any fields blank. You must provide full names; abbreviations of any kind will not be accepted. Before you proceed forward, please make sure all fields are complete. If you do not have a Driver’s License, please type N/A.

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Step 13 Continued…

At the bottom of the Repayment Information category, you will get one more chance to review the different Repayment Plans you may be eligible for. Making a selection will not sign you up for a Repayment Plan. To sign up for a Repayment Plan, you must contact your servicer(s). Once you are done reviewing the different Repayment Plans, click on Submit Counseling.

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Step 14:

Congratulations. You have completed FederalLoan Exit Counseling. Your record of completion will be updated at nslds.ed.gov, but you are encouraged to print this page for your own records. If you have any additional questions about Federal Direct Loan Exit Counseling, please contact the Financial Awareness team at 888.713.8669.



http://www.nslds.ed.gov/

Federal Direct Loan Exit Counseling Guide - devryonline.biz · 2 In New York, DeVry University...

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