Approaching Graduation???
Author: Financial Success | Image: Financial Success
Are you a student who is planning to graduate in December? If so, CONGRATULATIONS! The final weeks of your time at Iowa State are sure to be busy – finishing your classes, preparing for your last set of finals and making sure all the papers are in on time to receive that diploma!
Add one more thing to your list…Student Loan Exit Counseling.
If you have borrowed loans for your time at Iowa State, you are required to complete Loan Exit Counseling. This online counseling session will review your loan indebtedness as well as all of the information you need to know about loan repayment. Topics covered include repayment plan options, deferment options, forbearance options as well as reviewing how your student loan monthly payments will impact your budget and how to protect your credit and identity.
You have the option to complete your counseling requirement online at www.studentloans.gov or you can complete your counseling one-on-one with a Financial Aid Advisor. If you want to complete your counseling in person, contact the Office of Student Financial Aid to set up your appointment.
Students who complete their counseling in person will be entered into consideration for a one-time $2,500 scholarship to help reduce student loan debt. One lucky graduate will be chosen to receive the scholarship if they complete their counseling with one of the Financial Aid Advisors.
As a reminder, Federal Direct Subsidized and Unsubsidized Stafford Loans begin repayment 6 months after a borrower graduates or enrolls less than half-time. Federal Perkins Loan repayment begins 9 months after a borrower graduates or enrolls less than half-time. If you graduate in December, that means you will be required to start making payments in June of 2015.