Loan Exit Requirements

Everyone who received a student loan while enrolled at Indiana/Purdue University–Fort Wayne is required by the U. S. Department of Education to complete loan exit counseling when they are no longer enrolled.   Exit counseling reviews your rights and responsibilities for repayment of Stafford student loans. 

You are required to complete Exit Counseling if you:

• have graduated or
• are not enrolled in at least 6 credit hours (Audit classes do not count) or
• have stopped attending IPFW. 

To complete loan exit counseling

• Go to the StudentLoans.gov website
• Under “Tools and Resources” click on “Exit Counseling.” (Your FAFSA PIN is required)
• Submit your completed information via the web by clicking on “submit”

Important reminder:  You will have a six-month “grace period” before you begin repayment.  During this time, you will receive repayment information and you will be notified of your first payment due date. 

If you are facing a large amount of debt, you might be tempted to skip or postpone some of your student loan payments.  Instead, you should immediately contact your loan servicer to discuss other repayment plan options, and to find out whether you are eligible for a deferment or forbearance.  They will work with you to help you avoid the serious consequences of delinquency and default.  This exit counseling session will empower you to make good financial choices as you enter repayment on your Stafford student loans. 

A Perkins Loan Exit Interview reviews your rights and responsibilities for repayment of a Perkins Loan. Please review the following criteria to determine if you need an Exit Interview.

• I am recently graduated
• I am enrolled in 5 credit hours or less
• I am no longer enrolled at IPFW

If any or all of the above apply to your current situation, this is why you received an email from ECSI indicating you need to complete an Exit Interview.

Please review the following statements to determine if they apply to you:

• I have graduated with my associate degree, but will be continuing with my bachelors degree.
• I am attending another university 6 credit hours or more
• I am already in repayment of my Perkins Loan through IPFW (Purdue University)
• I have already completed an Exit Interview

If any of the above four statements apply to you, then you may not be required to complete the Exit Interview. Please use the contact information for ECSI on the email you received and discuss your options.

If none of the four criteria above apply to you, you are required to complete the Exit Interview. If you do not complete the Exit Interview in the time allotted your records with IPFW will be Encumbered.  This means you are unable to register or receive a transcript. Remember: You will have a nine-month grace period before repayment of your loans begin.