Stafford Loan Exit Counseling
Borrowers of Federal Stafford Loans who are no longer enrolled at least half-time at AU must complete federally mandated exit counseling as soon as they cease enrollment. This is a federal regulation and applies to all students who have graduated, officially withdrawn, dropped below half-time enrollment, transferred to another institution, or simply ceased attendance at AU.
You will need your Federal PIN (personal identification number) to complete Exit Counseling. If you have lost your PIN, you may apply for another PIN at www.pin.ed.gov. The Exit Counseling Requirement can be completed online in about 30 minutes.
Please note that your Federal Stafford Loans for attendance at AU are held and serviced by different organizations, as listed below, depending upon the years you received them. If you have Stafford loans with both servicers, you are only required to complete Exit Counseling with one. However, if you do have loans with both servicers, you are encouraged to complete Exit Counseling at both sites so that you may review your loan balance with each servicer and update your contact information.
- Federal Stafford Loans Disbursed through June 30, 2006 -- are Direct Stafford Loans and are serviced by:
Direct Loan Servicing Center
1.800.848.0979
- Federal Stafford Loans Disbursed July 1, 2006 and after -- are FFELP Stafford Loans and are serviced by:
Great Lakes Educational Loan Services
1.800.236.4300
Complete FFELP Stafford Loan Exit Counseling Here
You may wish to bookmark these addresses in your favorites for later use since these are the sites where you can view your Stafford Loan history, request deferment forms, and make payment arrangements once you leave school.
If you have any questions concerning your balance due or payment terms for your Federal Stafford Loan(s), please contact your loan servicer(s) directly at the web addresses or phone numbers above. Ymay also access your Direct and/or FFELP Stafford Loan histories at www.nslds.ed.gov.
AU is required as a part of Stafford Loan Exit Counseling to inform you that the average loan indebtedness of an AU graduate is $18,250 and the average monthly loan payment is $225. Listed below are additional sample total loan amounts and the approximate payment due each month on a ten-year repayment plan at a 6.8% interest rate.
| Amount Borrowed | Monthly Payment | Total Interest Paid |
| $5,000 | $58 | $1,904 |
| $10,000 | $115 | $3,810 |
| $15,000 | $173 | $5,714 |
| $20,000 | $230 | $7,619 |
| $30,000 | $345 | $11,428 |
| $50,000 | $575 | $19,048 |
If you have further questions after completing your counseling session, please contact our office at 419.289.5002 and ask to speak to your Financial Aid Counselor. Your Counselors name and direct phone/email are listed under Meet the Staff.