LOAN COUNSELING - EXIT
Whether you borrowed a Perkins, Stafford, Direct Sub/Unsub or Grad PLUS loan, you needed to keep in mind your responsibilities and rights as a student loan borrower. For you, borrowing a student loan may well have opened doors of opportunities for pursuing a post-secondary education that would not otherwise have been possible. Hopefully as you pursued your degree you borrowed carefully and did not borrow more than you really needed to finance your college education. The ease of obtaining a Federal Student Loan can in the end dictate your career choices. Without a doubt, SDSM&T students have the potential to make above average incomes once they have graduated.
Students who borrowed Federal student loans at some time during the course of their academic career (not just at SDSM&T) and graduated from SDSM&T with a Bachelors Degree during the 2010-2011 academic year, had an average federal student loan indebtedness of $26,408. If taking the full 10 years to repay at the current maximum rate of 6.8%, the monthly payments on this average indebtedness could be approximately $304 per month. You could borrow more or less over the course of their degree program and this level of indebtedness may or may not have been typical of you and it all depended on your situation and what your commitment was to borrow as little as possible considering your career goals and future earning potential.
Exit Counseling for Direct and/or Stafford Loans:: If you borrowed a Direct and/or Stafford Loan and will be graduating from SDSM&T, are attending less-than half-time or have decided not to return next semester, you will need to complete a Direct/Stafford Exit Loan Counseling session.
Exit Counseling for Perkins Loans: If you will be graduating from SDSM&T, are attending less-than half-time or have decided not to return next semester, you will need to complete a Perkins Exit Loan Counseling session.
Exit Counseling for GRAD PLUS Loans: If you will be graduating from SDSM&T, are attending less-than half-time or have decided not to return next semester, you will need to complete a GRAD PLUS Exit Loan Counseling session.
By indicating that you have attended SDSM&T, we will receive an electronic notification that you have completed these requirements. It is also a good idea to retain the end of session confirmation or make a printout of the confirmation page for future reference.
The National Student Loan Data System (NSLDS) is a U.S. Department of Education web site that you can access to find out how much you have borrowed, at what college or university and with which lender(s). You will need to have your FAFSA PIN available in order to access this site.
For more information contact...
Financial Aid Office
SDSM&T
501 E Saint Joseph St
Rapid City, SD 57701-3995
Work Phone 605-394-2274
FAX 605-394-1979
Toll Free 877-877-6044
FinancialAid@sdsmt.edu
Contact: SDSM&T Financial Aid
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| http://sdmines.sdsmt.edu/finaid/ExitLoanCounseling |
Last Modified: 12/02/2011 |
