Perkins Loan Exit Counseling Offered by Mapping Your Future

Students can now complete Perkins Loan Exit Counseling requirements anytime, anywhere. A new component of Mapping Your Future's (MYF's) Online Student Loan Counseling (OSLC), the new system is a free service available at mapping-your-future.org/perkins/exitcounseling.

MYF developed online Perkins Loan Exit Counseling at the request of schools looking for a convenient way for their students to meet their federal counseling requirements. The new system was created with the help of students and financial aid professionals. The goals of the system are to help schools and students meet federal requirements and to actively involve students in counseling, thus enhancing their education in loan debt management — making OSLC an important default prevention tool. In addition, it enables busy financial aid professionals to spend more time with those students who need their assistance most.

Schools wishing to offer online Perkins Loan Counseling to their students should complete the online Request for Participation form at mapping-your-future.org/perkins/entrancecounseling/sch.cfm. The sign-up process usually takes less than a day but does require the school to respond to MYF to confirm the accuracy of the information on the form.

MYF offers Perkins Loan Counseling as a separate service from Stafford Loan Counseling because, at many college campuses, these loan programs are managed by separate offices. Although the procedures are similar to Stafford Loan Counseling for retrieving reports from a Financial Aid Office Access area, schools will use a different user name and password to access Perkins Loan Counseling confirmations.

Participation in Perkins Loan Exit Counseling
The service is free to schools and students. To participate, schools must register by completing the online form. Schools registered for MYF Stafford Loan Counseling must register separately for Perkins Loan Counseling. However, schools participating in Perkins Loan Entrance Counseling will automatically be signed up to participate in Perkins Loan Exit Counseling, unless they request otherwise.

As a reminder, as with other forms of Perkins loan exit counseling, students completing MYF's Perkins Loan Exit Counseling online must also sign a repayment schedule. Department of Education officials recommend that schools send the student's repayment schedule with the notice to complete the online exit counseling session, asking the student to sign and return the repayment schedule to the school.

Questions and More Information
For questions or more information about MYF's Perkins Loan Exit Counseling, send an e-mail message to cathy.mueller@mapping-your-future.org or call (800) 252-9743, ext. 4539.

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