Exit Counseling
Federal Student Loan recipients who are graduating or leaving school for any reason are required to complete exit loan counseling at StudentAid.gov. If the student prefers to complete the exit counseling in person, International Institute of Orthotics and Prosthetics will provide personal exit interviews upon request. Students who leave school without completing their exit counseling will be sent the PDF version of the Exit Counseling Guide for Federal Student Loan Borrowers via email to the student borrower at their personal/home email address within 30 days after International Institute of Orthotics and Prosthetics learns that the student borrower failed to complete the exit counseling as required.
Each Direct Subsidized or Unsubsidized loan borrower who is in the final semester of the program of study will receive an electronic notification to complete exit counseling.
For administrative withdrawals, International Institute of Orthotics and Prosthetics ensures that exit counseling is conducted within 30 days of the date of determination that the student has withdrawn.
Exit Counseling provides important information in preparation to repay Direct Subsidized, Direct Unsubsidized, or Graduate or professional Direct PLUS loans and the borrower’s rights and responsibilities. It includes information on the average anticipated monthly repayment amount, available repayment plan options, description of the consequences of default, availability of the information in the National Student Loan Data System (NSLDS), and other information to successfully repay the federal student loans. The borrower may use the Federal Student Aid Office Loan Simulator to see the estimated monthly and total payments including the repayment plan options for which they may be eligible.
The borrower’s rights include the following:
written information on loan obligations and information on rights and responsibilities as a borrower;
a copy of the MPN either before or at the time the loan is disbursed;
a grace period and an explanation of what this means;
a notification, if the U.S. Department of Education transfers the loan to another servicer without the borrower’s consent;
a disclosure statement, received before beginning to repay the loan, that includes information about interest rates, fees, the balance owed, and a loan repayment schedule;
deferment or forbearance of repayment for certain defined periods, if a borrower qualifies and if requested;
prepay the loan in whole or in part anytime without an early-repayment penalty; and
documentation when the loan is paid in full.
The borrower’s responsibilities are the following:
completing exit counseling before leaving school or dropping below half-time enrollment;
repaying the loan according to the repayment schedule even if the borrower does not complete the academic program, is dissatisfied with the education received, or is unable to find employment after graduation;
notifying the lender or loan servicer if the borrower changes address, telephone number, name, social security number, and employer or its address or telephone number;
making monthly payments on the loan after the grace period ends, unless the borrower has a deferment or forbearance; and
notifying the lender or loan servicer of anything that might alter the borrower’s eligibility for an existing deferment or forbearance.
The United States Department of Education requires all students who have received a Direct Loan from International Institute of Orthotics and Prosthetics to complete Exit Loan Counseling. A student must complete Exit Loan Counseling when they exit the school, drop to less than half time enrollment status or graduate. Exit Loan Counseling informs you of your rights and responsibilities regarding the repayment process.
HOW TO COMPLETE EXIT COUNSELING ONLINE:
To complete Exit Loan Counseling click here
StudentAid.gov, you will need your Department of Education FSA ID to access your Exit Loan Counseling information. If you have forgotten your FSA ID or need to request an FSA ID, go to https://studentaid.gov/fsa-id. Once you receive your FSA ID, you will be able to access your Exit Loan Counseling requirements by returning to StudentAid.gov.
BUDGETING AND REPAYMENT
While you are logged into StudentAid.gov, we highly recommend that you use the Loan Simulator listed under Tools and Calculators. This will give you an accurate estimate of your monthly payment. It is extremely important to budget for your upcoming loan payment now even though your loan payment will not start until 6 months after you graduate, withdraw or fall below half-time enrollment.
Financial Aid Complaints
Students who have complaints about financial aid should first work with the Financial Aid Office in the Operations Office to resolve the dispute.
Deborah J. Faust, Director of Financial Aid
Roxanne Seymour, Assistant Director of Financial Aid
The Director of Operations will review all complaints sent directly to the Financial Aid Director, President, and all other officials who may receive a complaint regarding issues with financial aid. All complaints are taken seriously and will be reviewed and responded to promptly.
IF: You believe International Institute of Orthotics and Prosthetics violated its own policy or federal regulations in its administration of the federal student aid programs, for instance, if:
the school calculated your eligibility for federal student loans incorrectly;
the school disbursed (paid out) your aid or your credit balance incorrectly (in the wrong amount, at the wrong time, or not at all);
the school doesn’t have a financial aid administrator (yet is participating in the federal student aid programs), doesn’t have policies or procedures for administering the federal student aid programs, or has policies but isn’t following them;
the school or its representative has made false or misleading statements about the school’s educational programs, financial charges, employability of graduates, etc.; or
you have tried to work things out with the school but have been unable to.
THEN: You may submit a case to the FSA Feedback Center or call 1-800-433-3243.
If the dispute is not resolved to the students’ satisfaction, there are resources outside of the college that may assist: