Congratulations! You made it!
Approximately one month before graduation the Financial Aid Office will contact you to complete exit counseling if you have borrowed federal loans. The counseling is done online and takes approximately 30 minutes, and is intended to remind you of your rights and responsibilities as a student loan borrower and provide you with the information you will need to manage your loan obligations. You’ll even learn about different options for repayment of your loans. Check out this helpful brochure on repaying your loans.
Unless you enroll at least half-time in another degree program, you will begin repayment of your loans six (6) months after graduation from Monmouth. Your loan servicer will tell you when your first payment is due, the number and frequency of payments, and the amount of each payment; you can access information on your loan servicer at www.studentaid.gov.
If you enroll in another degree program, be sure that the new school reports to the National Student Loan Data System (NSLDS) that you are enrolled. This will ensure that your loan payments are deferred or held off while you are enrolled at least half-time. (Note that interest still accrues on deferred unsubsidized loans!) To monitor your accounts, you can access your loan information on the NSLDS Student Access Web site; you will need to use your FSA ID to log in to your account.