Exit Counseling

Under Act 69 of 2024 for College Affordability and Transparency, Pennsylvania Institutions of Higher Education (IHEs) must provide financial aid exit counseling to students at the end of their final academic term, unless a student elects not to participate. Federal Student Aid (FSA) Federal Loan Exit Counseling does not supplant this requirement. Counseling may be in-person or online, and IHEs may partner with the Pennsylvania Higher Education Assistance Agency or a similar entity.

If you are going to graduate, withdraw, or drop below half time enrollment, there are steps that must be taken regarding your loans. 

The following presentation will help you understand your obligations and the next steps in managing your loan repayment.

What to do with your loans after graduation

Complete Exit Counseling

• Borrowers of Federal Loans must complete Federal Loan Exit Counseling at studentaid.gov/exit-counseling/
• You'll have the opportunity to select a repayment plan option through your specific loan provider.
• If you need to make a change in your repayment plan later, contact your loan servicer for options.

Deferring Payments Due to Continuing Your Education

• If you are continuing your education and would like to defer your payments, check the options for your loans here.
• If you plan on re-enrolling on at least a half-time basis, the institution you are attending can provide you with enrollment verification that you can provide to your loan servicer.

Understanding Loan Forgiveness

In certain situations, you can have your federal student loans forgiven, canceled, or discharged. See below for more resources.

Stay Alert and Avoid Scams

Your loan servicer will provide you with free assistance. You should never pay an outside entity to help with your student loans. There are businesses that try to scam borrowers and students by charging you for services that you can do on your own for free—such as selecting a repayment option to lower your payments. Also, be suspicious of any company that claims they can eliminate your debt for a fee.

Go to the Source for Reliable Information

A reliable source for information on real ways to lower your federal loan payments, selecting the right repayment option, avoiding or getting out of default, apply for loan forgiveness, and more is the Federal Student Aid website (the same website you used to complete the FAFSA).

Federal Student Aid's Guide to Repaying Your Loans