Stafford Loan Exit Interview

If you have borrowed under the Federal Stafford Loan program you are required by federal regulation to complete an exit interview prior to graduation that describes your rights and responsibilities. Federal regulation also requires that you are presented with the Average Stafford Loan Indebtedness for the Class of 2007. This information is based on a random survey of 100 seniors who have borrowed under the program.

Average total Federal Stafford Loan Indebtedness: $14,996

Average estimated monthly Federal Stafford Loan payment (based on 120 months):

Interest Rate	Monthly Payment	Total Interest Paid	Total Payment (Interest and Principal)
4.70%	$157	$3,827	$18,823
5.30%	$161	$4,356	$19,352
6.80%	$173	$5,713	$20,709
8.25%	$284	$7,076	$22,072

Completion of the exit interview 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 interview:

• 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 Homer Connect ID and PIN.)
• Your Guarantor's name (You may access this information by using your Homer Connect ID and PIN.)

Begin the Stafford Loan Exit Interview

Information on Loan Cancellation Provisions