How to:
Complete Student Loan Exit Counseling
Student loan exit counseling is required for all students who graduate, transfer to another school, drop below half‐ me enrollment (6 credits), or otherwise stop a ending. Exit counseling will help you understand your rights and responsibili es as a student loan borrower and will provide useful ps and informa on on managing your student loans. PLEASE NOTE: A school must ensure that exit counseling is conducted with each Direct Subsidized Loan or Direct Unsubsidized Loan borrower shortly before the borrower ceases at least half‐ me study at the school. A “hold” will be placed on a student’s
academic transcripts and/or diploma pending the receipt of CWI exit counseling documentaƟon. Please complete Exit Counsel‐
ing as soon as possible to avoid any un mely delays in receiving your transcript and/or diploma. STEPS TO COMPLETE EXIT COUNSELING: 3. Select College of Western Idaho as the school. 1. Go to www.studentloans.gov, and select “Log In.” (To log in, you will need your FSA ID. If you have forgo en your FSA ID, you can reset your informa on on the home page of this site). 2. Once logged in, select “Complete Counseling”. Then, choose “Exit Counseling” for the counseling type, click start. 4. Complete each step of the exit counseling process. This may take approximately 30 minutes to complete. 5. When finished, save/print a copy of the confirma on page for your records, CWI will be no fied electronically within 2‐5 business days. IMPORTANT!
Keep your contact informa on current with your loan servicer(s). This ensures you will receive important up‐
dates such as how and when to repay your student loans, including different types of repayment op ons that may be available. Not sure who your loan servicer is? Log into www.nslds.ed.gov for more informa on. One Stop Student Services | p 208‐562‐3000 | f 888‐562‐3216 | [email protected]
Repayment Resources
REPAYING STUDENT LOANS
When a student graduates, withdraws from school, or drops below half‐ me enrollment status, they may have up to six months * (known as a grace period) before the first payment is due on federal student loans. This me is provided to help students to get financially se led, select a repayment plan that will work best for them, and determine how much the student loan payment will be each month. IMPORTANT NOTE: Parent Loans, known as PLUS Loans, do not have a grace period. * If a student has not previously used any por on of the grace period, there should be a full six months. When entering repayment, it is important for you to know who will be servicing your loan. This informa on can be found online at www.nslds.ed.gov. It is cri cal to maintain contact with the servicer when entering repayment or if something arises and you are unable to make payment(s). The loan servicer can review op ons with you (such as changing your repayment plan, applying for a deferment or forbearance, etc.) and help you avoid default. Defaul ng on a student loan can greatly impact your credit ra ng and future federal aid eligibility. IMPORTANT STUDENT LOAN REPAYMENT RESOURCES:
KNOW HOW LOANS WORK: Exit Counseling Guide for Federal Student Loan Borrowers: h ps://www.edpubs.gov/document/end0182b.pdf?ck=932 KNOW YOUR TOTAL LOAN BALANCE AND LOAN SERVICER: To look up loan history, repayment status, and loan servicer(s): www.nslds.ed.gov KNOW YOUR LOAN REPAYMENT OPTIONS: Learn more about loan repayment op ons, including flexible payment plans and loan forgiveness programs: h p://studentaid.ed.gov/repay‐loans/understand/plans GET FREE ADVICE AND HELP WITH STUDENT LOANS:
CWI has partnered with SALTTM, a free membership program for all CWI stu‐
dents and alumni. SALTTM can provide assistance with managing finances, keep‐
ing track of student loans, and more! Ac va ng a SALTTM membership allows students to take advantage of member only features like:  Interac ve money management tools that show you how to take control of finances.  A personal dashboard that tracks all federal student loans in one place.  Loan advice from SALT’s expert counselors.  My Money 101—a self‐paced, online resource that teaches prac cal money management strategies for budge ng, credit cards, banking and more.  Access to thousands of jobs and internships to jumpstart a career.  Access to scholarship informa on.  Exclusive benefits that help student loan borrowers save and spend smart. One Stop Student Services | p 208‐562‐3000 | f 888‐562‐3216 | [email protected]