Exit Counseling
Exit counseling is a vital step in the student loan process.
As student borrowers approach graduation or prepare to discontinue from campus due to a mission, military service, or personal reasons, those with loans must complete exit counseling.
Below provides important information as you prepare to leave campus.
Students in the IWORK program who will graduate or discontinue (LOA is not included) must complete the following three forms:
IWORK Graduate/Discontinuance Contact Information
Travel Request to Return Home
If you will drop below half-time enrollment status (less than six credits for fall/ winter, and four credits for spring) or wish to withdraw from the IWORK program, please come in to see our IWORK counselors.
Completing these forms will ease the transition through your next endeavors.
If you graduate, discontinue, or drop below half-time enrollment status (less than six credits), and you have borrowed Stafford or Parent PLUS loans, you must complete an exit loan counseling.
This is an opportunity to remind yourself of your rights and responsibilities as a student loan borrower.
In turn, you must provide your lender with certain information about your plans after you leave school (for example, your current address, your expected employer, etc.).
Completing the exit counseling requirement is only one step in keeping your loan payments in good standing; remember that student loan debt is reported to credit agencies. Until your loan is paid in full, you should continue to communicate with your lender regarding any changes in your address, school enrollment status, or questions about making payments.
Below is important information for students who have accepted a Stafford Loan from the federal government while attending BYU–Hawaii and who have recently graduated, discontinued, or have dropped below half-time enrollment status.
Resources:
Direct Loan Exit Counseling Guide
Repaying Your Loans
Interest Rates for Direct Loans First Disbursed on or After July 1, 2024 and Before July 1, 2025
DEPENDENT | YR1 | YR2 | YR3 | YR4 | Subtotal |
| SUBSIDIZED | $3,500 | $4,500 | $5,500 | $5,500 | $19,000 |
| Unsubsidized | $2,000 | $2,000 | $2,000 | $2,000 | $8,000 |
| Total | $5,500 | $6,500 | $7,500 | $7,500 | $27,000 |
Loan Amount | Interest | Term (Yrs) | Monthly Payment | Number of Payments | Total Payments at end of Term |
| Subsidized and Unsubsidized (Max-$27,000) | 6.53% | 10 | $307 | 120 | $36,840 |
INDEPENDENT / PLUS LOAN DENIED | YR1 | YR2 | YR3 | YR4 | Subtotal |
| Subsidized | $3,500 | $4,500 | $5,500 | $5,500 | $19,000 |
| Unsubsidized | $6,000 | $6,000 | $7,000 | $7,000 | $26,000 |
| Total | $9,500 | $10,500 | $12,500 | $12,500 | $45,000 |
Loan Type | Interest | Term (Yrs) | Monthly Payment | # of Payments | Total |
| Subsidized and Unsubsidized (Max-$45,000) | 9.08% | 10 | $572 | 120 | $68,640 |
Future Missionaries: Students who have discontinued to serve a mission should contact their loan servicer at www.studentaid.gov and resolve any outstanding loan balances before leaving for your mission. Loan payments will be due six months after your discontinuance and possibly while on your mission. Unresolved loan balances will cause your loan to default and make you ineligible for federal aid until the default is resolved.
Ombudsman: The Federal Student Aid Ombudsman Group confidentially resolves disputes regarding your federal student loans. Be sure to identify your loan problem and make efforts to contact and resolve the issue with your loan servicer before contacting the Ombudsman. Contact information is as follows:
Telephone: (877) 557-2575
Fax: 606-396-4821
Mail: FSA Ombudsman Group, PO Box 1843, Monticello, KY 42633