Student Loan Repayment & Exit Counseling

Student Loan Repayment & Exit Counseling

Most student loans start reimbursement six months after the student graduates, withdraws, or takes a depart of absence from the school. Students who’ve borrowed a federal loan whereas at Wheaton are required to attend exit counseling the place they may obtain essential data relating to their cumulative loan quantity borrowed in addition to loan reimbursement choices. Exit counseling is carried out through the spring semester of a student’s senior 12 months of school. Students who withdraw or take a depart of absence from the school will obtain exit counseling data by mail.

All graduating students should full loan exit counseling.

New Video: What to anticipate at Repayment

More data and movies can be found on the Federal Student Aid web site.

For particulars relating to particular loan applications, please evaluate the next data:

Federal Direct Loans

Your Wheaton College monetary support award package deal could have included a Federal Direct Loan. If your loans had been federally backed, or should you selected to capitalize the curiosity in your unsubsidized loans, reimbursement will start roughly six months after your separation (commencement, withdrawal, or depart of absence) from Wheaton College.  You might be despatched billing data by the Direct Loan Servicing heart previous to going into reimbursement.

Information relating to the Federal Direct Loan program together with a reimbursement calculator is accessible on the Federal Student Aid web site.

Federal Perkins Loans

Your Wheaton College monetary support award package deal could have included a Federal Perkins Loan.  Perkins loan reimbursement begins after your 9 month grace interval expires. Wheaton College is the lender for the loan and Heartland/ECSI is the loan servicer.  As the servicer, Heartland/ECSI sends Perkins loan billing statements to the borrower, processes loan funds, deferments, payoff quantities and consolidations.

READ:   A Guide To Paying Back A Student Loan

For definitions of essential phrases, data on numerous deferments, and normal questions, please go to the Heartland/ECSI web site.

Wheaton College Institutional Loans

Your Wheaton College monetary support award package deal could have included an Institutional Loan such because the Alice Friend Ireland ’34 Loan or the Troderman Loan. These loans are awarded to students who meet very particular awarding standards. Wheaton College is the lender for this loan and Heartland/ECSI is the loan servicer. As the servicer, Heartland/ECSI sends institutional loan billing statements to the borrower, processes loan funds, deferments and gives payoff quantities.  Even although Wheaton College is the lender, your institutional loan funds must be despatched on to Heartland/ECSI.

Federal Student Loan Exit Counseling

Exit Counseling classes are carried out within the spring for all graduating seniors who’ve borrowed a federal loan whereas enrolled at Wheaton College. Loan Exit Counseling may be accomplished on-line on the Federal Student Aid web site.

Student loan debtors obtain a cumulative breakdown of all loans borrowed in addition to lender/servicer contact data. Students could contact Student Financial Services to ask any questions they could have relating to their loans together with however not restricted to: loan reimbursement, deferment, forbearance, loan consolidation, loan forgiveness, and loan cancellation.

All student loan debtors full a federal exit counseling session on-line using the next loan servicing web sites:

More data relating to the federal student loan program together with exit counseling (pdf), eligibility of loan forgiveness, and a loan reimbursement calculator is accessible on-line on the Federal Student Aid web site.

Did you recognize?

You should notify your loan servicer should you change any of the under.  Wheaton doesn’t replace your loan servicer with any of the under data after you graduate or develop into lower than a full time student. 

  • Name
  • Mailing tackle
  • Email tackle
  • Phone quantity
  • Bank and/or bank account (if paying by auto debit)
  • Enrollment standing whereas in undergraduate or graduate faculty
READ:   Which Student Loan Plan Is Better?

You can discover your loan servicer data through the use of your FSA ID to entry your account on the National Student Loan Data System (NSLDS).