Exit Counseling
Nellie Mae's online exit counseling program is a self-directed counseling experience for students that tests their understanding of loan terms and borrowing responsibilities, and enables them to fulfill their Federal Stafford loans exit counseling requirements.
Additionally, optional information is available on borrowing Federal Perkins loans and private education loans. Content is modified for graduate students.
Schools can choose to have Perkins Loan information included in the online exit session. (Refer to Perkins Loans.)
Schools may review the application content by using the Demo the Application feature.
Demo the Exit Counseling Application Steps to review the entire Nellie Mae exit counseling session:
- Open a new browser window and enter www.nelliemae.com/exit into the browser address bar.
- Click on Demo Exit Counseling link on the bottom left-hand side.
- Continue through the application pages.
Informing Students Nellie Mae can help schools inform students of their counseling option available through LoanLink with flyers and other printed materials that can be distributed at the financial aid office or in student mailings. Contact your Nellie Mae RAE to request materials. (Refer to the Publications page.)
In addition, a school's financial aid office web site may incorporate a hyperlink to the Nellie Mae entrance counseling application.
Student Registration Information For exit counseling, the student must complete:
- First and Last Name
- Social Security Number
- Email Address (optional Field)
- Perkins Loan information (if applicable)
- School Name
Exit Counseling Data Collection When Nellie Mae's web administrator contacts the financial aid officer following online registration, the financial aid officer can designate which data collection option the school wants. The school can choose to collect:
- Only student data
- Student and reference data
- Student, parent, spousal and reference data
Exit Counseling Perkins Loans Schools can choose to have the exit counseling session display Perkins Loan information. If your school chooses this option, provide the name, address, and telephone number of the school's Perkins Loan servicer on the enrollment form during the registration process.
Exit Counseling Process Nellie Mae's exit counseling application provides a resource to help plan and manage student loan indebtedness through:
- An interactive question and answer section provides definitions and basic information about student loans. There are six multiple-choice questions that students must answer correctly to proceed through the application.
- Interactive calculators and worksheets help students determine starting salaries, calculate expense budgets, calculate student loan repayment under various repayment options, and project cash flow. Students must enter information on each page before they can progress to the next page.
- A review of exit counseling important points—similar to lender checklists.
On the final page of the exit counseling session, students are asked to certify that the information submitted is correct. Students also certify that they give permission for the information to be submitted to Nellie Mae and shared with the school.
Once the student certifies this information and clicks submit, the record is written to Nellie Mae's database and the student is given a confirmation number. All completed sessions are immediately available for a financial aid officer's review.
Only information on students who have completed the session will be available.
Exit Counseling Customization Schools may customize certain features of the exit counseling session. When Nellie Mae's web administrator contacts the financial aid officer following online registration, the financial aid officer can provide the custom information.
- For the Frequently Asked Questions section:
- You may write questions and answers that are specific to your school or your school's process. Nellie Mae will add these to the general FAQs already listed.
- You may add an email hyperlink to a designated person in your financial aid office. This allows student users to submit questions directly to a loan counselor at your school.
- For the repayment overview section:
- You may write and submit additional content that you wish your students to read. The content may be information that is specific to your school or your school's process, or additional general information that you want reinforced.
- For the final confirmation page:
- You may request additional hyperlinks that you consider helpful resources for your students, including your school's financial aid office web page. The web site name/URL and descriptive text about the recommended web site will be included.
Email Notification to Schools Each weeknight, LoanLink sends email notification to the school's designated recipient if there are new student records. This message links financial aid officers to Nellie Mae's web site to retrieve student information. Nellie Mae does not send personal student information via email messages. Financial aid officers must log in to our secure web site to view or download this information.
Schools do not have to wait for the email prompt; financial aid officers may log in to view information anytime.
- Next Page: Exit Counseling Reports
- Previous Page: Entrance Counseling Reports