Deferment, Exit Counseling, Repayment, and Credit

While attending college you may have received federal student loans from the US Department of Education (ED). When you are about to begin paying back those loans, you’ll need to know how to manage your student loan debt to avoid repayment and credit problems. Borrowers are scheduled for repayment when they graduate or cease at least half-time (6 credit hours) enrollment.

The Federal loan programs require graduating students and those who have dropped below half-time enrollment to complete an Exit Counseling Session online. This process helps you understand your rights and responsibilities as a student loan borrower.

You may access your federal student loan information including the status of each loan borrowered on the National Student Loan Data System (NSLDS).

What about Loan Repayment?

See Comprehensive Information you'll need before you begin paying back your loans including Sample Repayment Schedules and Interest Capitalization Calculators. Some loans may be eligible for discharge or cancellation of principal. See information on the newest payment plans.

Electronic Direct Loan Exit Counseling takes about 30-40 minutes. At this site, select EXIT Counseling (2). You use your Federal PIN to log into a session.

Electronic Perkins Loan Exit Counseling takes about 20 minutes. When you are required to complete Exit Counseling for the Federal Perkins Loan, you receive a message at your Hope e-mail account directing you to this site. You use your UAS PIN (used to sign your Perkins promissory note) to log in.

What is Deferment and Forebearance?
If you meet one of the deferment criteria, you may postone payment on your loans. The most common deferment is being enrolled at least half time. Should you transfer from one school to another, or return to school after not being enrolled, you may defer payments on your loans. You may need to complete a deferment form (see the Forms page for links to Perkins and Direct Loan deferment forms). Forbearance allows a borrower to cease payments for a specified period of time but interest usually continues to accrue. For details on deferment and forbearance, click here.

What is Loan Default? Defaulting has serious consequences!

Federal Student Loan Interest Deduction and Educational Tax Benefits

Credit and Debt Information including managing a budget and keeping debt under control.

Federal law requires the government to report federal loan information and the subsequent monthly payment information to credit bureaus. A borrower has the right to prohibit a credit bureau from using information in the borrower's credit record in connection with any credit or insurance transaction not initiated by the borrower.

If you have additional questions, please call Direct Loan Borrower Services at 1-800-848-0979.