The Award Letter (Financial Aid)
If you are currently, or have ever been a borrower of a federal student loan (Stafford or Perkins), you are required to complete exit counseling prior to leaving Southwestern College.
|I am graduating!||I am transferring.|
In addition to exit counseling, we strongly recommend that you bookmark the repayment section of the StudentAid.gov website.
If you borrowed loans at anytime to complete your degree, the federal government requires that you complete loan exit counseling. The counseling is located online on the National Student Loan Data System (NSLDS) website and requires your federal P.I.N. as an electronic signature.
Sometimes it is necessary for a student to transfer to another college before completing a degree. If you have borrowed loans at any time while in pursuit of a degree, the federal government requires that you complete loan exit counseling before exiting the school. The counseling tool is located on the National Student Loan Data System (NSLDS) website and requires your federal P.I.N. as an electronic signature.
In addition to exit counseling, students transferring or withdrawing from Southwestern should also ensure the following:
- Make an appointment with the Office of Financial Aid to initiate the withdrawal process and laptop return. This step is especially important if you are leaving mid-semester.
- Contact the Office of Financial Aid for loan exit information. If you transfer mid-year, this step is necessary to cancel all remaining federal loan disbursements scheduled so they are released for your new school. (You will need to re-apply for financial aid at your new school so be aware of deadlines and requirements.)
- Transfer your FAFSA information to your new school by updating the online application with your new school's Federal ID code. If you aren't sure what it is, ask the Office of Financial Aid.
- Communicate with your federal loan servicer and any Perkins loan servicers who may be holding your loans. These people need to know your plans so they can correctly establish the date when you need to begin repayment.
- If possible, maintain continuous enrollment to avoid having your loans go into repayment. Notify your federal loan and Perkins loan servicers of your decision to transfer, your new address, and any change in your enrollment status or expected graduation date.
- Complete deferrment paperwork if you transfer to a new school and still find yourself in repayment. The Office of the Registrar and Office of Financial Aid at your new school should assist you in verifying for your federal loan servicer that you are still enrolled.