Exit counseling needs to be done in person so the student understands the importance of paying on the loan. All to often students feel that the money comes from the Feds and does not need to be repaid. They must understand how failure to pay will affect future credit and future educational opportunities. I remember one school sitting the student in front of a TV and playing a video and calling "Exit Counseling", they have a high default rate.
A formal meeting is conducted with packets handed out to students who have remaining balances on their loans. A test is given to them to test their understanding of the differences in loans and what they know about when their loans are to be paid back. When their tests are complete they will turn the tests in and we verify correct answers then sign off their sheet.
Debra,
It's great to be able to do these in person, when possible. I think the bigger challenge is connecting with students who don't identify their intent to withdraw but simply quit attending. These are the ones that it is difficult to know what prompted their departure from their education.
Traci Lee
We also do the same thing, that way there is no question in their minds as to what happens.
During their orientation we present them with a slide show that has been put together by our Loan Management Advisement team at the Home Office. They do an exit quiz and the department exit counseling form. They are also provided with a handout introducing their Loan Management Advisor and a printout of their loans with lender information.
We do this in the same fashion, making sure all questions are answered and that, to the best of our ability, they leave completely educated concerning their student loans and individual scenario.
We also do exit interviews in person. It is important for 2 reasons:
1 Students should understand their responsibility
2 Their may be a potential to re-enroll that student at a future date and this may only be brought to light during this interview as it is most often the last opportunity for the institution to make an empression.
I think in person is the most effective method.
We have a designated Financial Aid rep who schedules a time with our soon to be grads during class to cover all necessary exit info.
Exits are set up in Fin. aid to make sure that prospects are aware and have full knowledge what they have applied for and committed to. Its a way/check point to ensure that no one gets by uninformed. The signatures and documents are a paper trails that can prove all steps were used.
Student are aware of what needes to be done and what could happen if loans are not paid back . - Reminder of their obligations.
Each student is counseled by financial aid and informed about the ramifications of their student loans. All questions are answered.
Students are met either by appointment or as a group to conduct their exit counseling prior to them leaving school.
Our Students complete exit loan counseling before going to clinicals. It is very helpful as they are informed of all there responsibilities and options.
We do exit counseling in person. It is important students understand their responsibilities for the loans.
It is mandatory and is part of the exit interview. If a student withdraws and does not show up for an exit interview the FA department will make attempts to get the student back into the campus or mail all documents to their last known address.
The loan exit counseling is mandatory for all graduates and withdrawals. If they come into the FA office we set them down and have them get onto NSLDS, http://www.nslds.ed.gov/nslds_SA/, and complete the loan counseling. If they do not come into the office we will mail out paper exits for the student to return to the FA office.
Exit counseling is manditory of course for our students. We take the opportunity to give our exit interviews as students are in class. We arrange with the education department to take the required time for exit interviews, this way we try not to miss anyone.
Our FA dept goes over all aspects of FA with student and ensures they understand every detail.
Our FA dept..speaks with each student individual and go over all funding options to make sure they understand how the process works
