Exit Interview Instructional Letter

If you believe that you may be approaching your final year at Long Island University, and if you have borrowed educational loans, we are providing this important information so you are prepared to enter the repayment phase on your loan(s).

Because you have borrowed from the Federal Direct Student Loan Program (Subsidized or Unsubsidized), you are required by federal regulation to complete a loan exit interview. In this regard, we are providing you with directions on how to electronically complete a Loan Exit Interview, and the flyer on this page provides you with instructions on accessing the federal website (www.dl.ed.gov) that provides the loan exit interview.

We hope you will pay particular attention in selecting the repayment plan that best meets your needs. We would like to recommend that, whenever possible, our students select the “Standard” repayment plan which is the one that requires the least interest being paid over the repayment period.

The electronic loan exit interview should take about 15 minutes of your time but is required before your diploma will be released to you. You can complete the electronic exit interview from any computer, anywhere, and if you do not have computer access, there are computers available in the lounge outside the Office of Student Financial Services and in the Library Learning Center (LLC 234).

Because you have borrowed from a federal loan program, failure to repay can result in default status which is highly detrimental to your credit well-being. Students who are in default of student loans will have their federal income tax refunds withheld, their salaries garnished, and their credit ruined. Once you are in repayment, you should contact the federal government’s student loan servicing center for special repayment provisions if you are having difficulty meeting your payments. Keeping in touch with them may avoid falling into default.

Once you have completed the electronic loan exit interview, your name will appear on a roster from the federal government and your records updated so that you can receive you diploma upon graduation.

If you need further clarification on any aspect of completing the electronic loan exit interview, feel free to contact the Office of Student Financial Services.

http://www.dlssonline.com/exitcounseling/ecec-main.asp