Stafford and Direct Loan Exit Counseling

If you have borrowed under the Federal Stafford Loan program or the William D. Ford Federal Direct Loan program you are required by federal regulations to complete an exit counseling session prior to graduation that describes your rights and responsibilities.

Completion of the exit counseling session via the Internet is an easy process and only takes about ten minutes. You'll need the following information on hand to complete your exit counseling session:

  • Your expected employer, address and phone number (if you will be employed upon graduation).
  • Your nearest living relative's name and complete address and phone number.
  • Two other references with complete addresses and phone numbers.
  • Your Lender's name (You may access this information by using your HomerConnect ID and PIN.)
  • Your Guarantor's name (You may access this information by using your HomerConnect ID and PIN.)

Federal regulation also requires that you are presented with the Average Federal Loan Indebtedness for the Class of 2012. This information is based on a random survey of 100 seniors who have borrowed under the program.

Average total Federal Loan Indebtedness: $23,849

Interest Rate Monthly Payment Total Interest Paid
Total Interest/Principal Paid
3.4% $235 $4,317 $28,166
4.5% $247 $5,811 $29,660
5.6% $260 $7,352 $31,201
6.0% $265 $7,923 $31,772
6.8% $274 $9,086 $32,935