Exit Counseling

Exit Counseling for Federal Direct Loan Borrowers

What is Exit Counseling?

When Federal Direct Loan student borrowers drop below half-time enrollment, graduate, or leave school, they are required to complete Exit Counseling. This online session provides essential information on loan repayment, available repayment plans, and options such as deferment or forbearance.

Exit Counseling helps you:

Understand your loan repayment responsibilities
Learn about different repayment plans
Explore options to manage your loans and avoid default

How to Complete Exit Counseling

Visit the Federal Student Aid website at studentaid.gov and log in using your FSAID and password. If you’ve forgotten your login details, use the “Forgot My Username” or “Forgot My Password” links to recover them.
Once logged in, navigate to the Loan Repayment section, then under “Prepare and Apply,” select Loan Exit Counseling.
Choose the option that reflects your student status (‘Undergraduate Student’ or ‘Graduate/Professional Student’) and click Start under the Exit Counseling section.
Review and update your contact information and references as needed.
Select New Jersey Institute of Technology (NJIT) under “Search School” to ensure your records are updated correctly.
Follow the prompts to complete all required sections. Be sure to expand all dropdown menus to proceed.
Once finished, a confirmation will be sent to the NJIT Financial Aid Office within 24-48 hours.

Additional Resources

Direct Loan Exit Counseling Guide
This downloadable guide provides key details on:
- Money management
- Repayment plans
- Deferment and forbearance options
- Loan consolidation
Below video provides step by step instructions to complete the Federal Loan Exit Counseling.

Repaying Your Loans Guide
This downloadable guide provides more information about federal student loan repayment, timelines, and strategies to manage your debt effectively.
Loan Simulator helps you estimate monthly student loan payments and choose a loan repayment option that best meets your needs and goals.
Federal Student Loan Repayment Plans: You may review detailed information about the various Direct Loan repayment plans available. Understanding these options will help you:
- Determine your monthly payment amount based on your income and loan balance.
- Learn about income-driven repayment plans that may lower your payments.
- Explore options for loan consolidation, deferment, and forbearance if needed.
  Avoid delinquency and default by selecting a repayment plan that works for you.

Financial Literacy Resources

NJIT has partnered with Inceptia to offer Financial Avenue, an interactive online program designed to enhance your financial knowledge. Through Financial Avenue, you will have access to:

Courses on Loan Guidance, Debt, and Repayment
Tools to help you manage your finances effectively

For more information, visit NJIT Financial Literacy.

If you have any questions about Exit Counseling, please contact the NJIT Student Financial Aid Services at finaid@njit.edu or 973-596-3479.