We’re sorry to see you leave Monmouth. Unfortunately, your financial aid doesn’t transfer with you so there are a few things you need to do to tie up loose ends at Monmouth as well as set up your financial aid at your new school.
- When you have made the decision to transfer, please let the Financial Aid Office know. We will cancel your financial aid at Monmouth for future semesters.
- The Financial Aid Office will contact you to complete exit counseling. 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, as well as provide you with the information you will need to manage your loan obligations.
- If you intend to apply for financial aid at the new school, you will need to add the new school to your FAFSA; this will give them the information needed to award your financial aid. At the same time, you should remove Monmouth’s (code 002616) so that we don’t continue to get your financial information.
- If your financial aid package at the new school includes direct loans, you may be required to complete another Master Promissory note for your loans. The good news is that you won’t be required to complete an entrance counseling again!
- 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.