Direct Loan Exit Counseling
The U.S. Department of Education (DOE) makes your William D. Ford Federal Direct loans directly to you through the school(s) you attend. DOE is your lender and will remain your lender throughout the life of your Direct Loans. The Department of Education's Direct Loan Servicing Center (Servicing Center) oversees your loan account until each loan is paid in full.
While the Servicing Center will oversee your loan account until your loans are paid in full, you are the real loan manager, because you are responsible for repaying your loans. As a Direct Loan borrower who is graduating or who is no longer attending school at least half time, you will have many decisions to make in the near future, including decisions about managing the repayment of your student loans. The average indebtedness of Michigan Tech 2005-2006 undergraduates with loans was $13,807 and for graduate students was $19,789.
Exit counseling is required, by Federal law, for borrowers of Direct Subsidized and Unsubsidized Loans when they graduate, withdraw, or otherwise cease to attend school at least half time.
Please access the Department of Education Website and select "Take the Exit Counseling session".
