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Why do you complete Loan Exit Counseling?

Repaying Your Student Loan

Unlike the grants and scholarships that you may have received as part of your award package, a Federal Stafford Loan and Private Loans comes with fees, accrues (or collects) interest, and must be repaid.

In fact, you must repay your loan even if you have failed to complete your degree, are unhappy with your education, or can't find immediate employment after graduation.

If you are late with just one payment - or simply miss a payment - you will be considered delinquent and you may incur late fees. If you stop making Stafford Loan payments altogether, you will be considered in default after 270 days have passed with no payment.

Default is serious and may come with these consequences:

  • Your credit rating will be negatively affected for years.
  • The entire unpaid amount of your loan (including interest) will become immediately due and payable.
  • Your wages may be garnished.
  • Your federal and state income tax refunds can be withheld.
  • You will get calls from bill collectors and you may be subject to litigation
  • You will be ineligible to receive any other federal aid in the future.

Who need to complete the Loan Exit Counseling?

Any student receiving FFEL or Direct Loans (including Graduate/Professional PLUS loans) must complete Loan Exit Counseling:

  • Undergraduate Students -Loan Exit Counseling
  • Graduate Students - Loan Exit Counseling
  • Full-time and part-time enrollment
  • Main campus and site students

Students who withdraw from school as a result of:

  • Withdrawal from the institution by dropping all classes
  • Conferred a degree after the completion of all major requirements
  • Failure to complete a degree program

Available Counseling Materials

  • Web-based Online
  • Mailed Material

When should a student complete the Loan Exit Counseling?

  1. Borrowers that withdraw from all classes or drop to less than 6 hours
    • Request the Official Withdrawal Form from the Registrar Office at (386) 481-2520
    • Review your financial aid with the FA Loan Counselor to determine if Return of Funds are needed
    • >
    • Complete Loan Exit Counseling online. If student fails to complete the Official Withdrawal Process, material will be mailed to the permanent address within 30 days of notification
    • If a balance remains on the student’s financial account, Student Accounts Clearance is required
    • Students must contact the Registrar’s Office for official withdrawal of classes
  2. Borrowers graduating or has graduated with loans
    • Request Exit Counseling from the Financial Aid Office
    • Complete Loan Exit Counseling online.
    • If a balance remains on the student’s financial account, Student Accounts Clearance is required
    • Borrowers seeking graduation will not receive a diploma until Exit Counseling is complete

Steps to Completing Online Loan Exit Counseling Session

If you are a loan borrower at Bethune-Cookman University, you must complete Exit loan counseling. Failure to complete this requirement will delay future loan processing of your Federal Stafford loan and the receipt of your diploma from B-CU.

  1. On the Financial Aid Web page.
  2. Click on Loan Entrance/Exit Counseling.
  3. Complete Exit Counseling.
  4. The Financial Aid Office will receive your result electronically once you complete the counseling session.
  5. You can check the status of your Exit Counseling at Financial Aid Online Services The results will be available within 2 days of completion.
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