Before you leave MIT, you must complete loan exit counseling that will give you repayment options and information.

Exit counseling is your chance to get general information you’ll need to manage your student loan debt successfully.  You will learn about your rights and responsibilities as a borrower.  Knowing when your repayments begin, what repayment options are available, and what the minimum monthly payments would be under those options will help you.  You will also learn about grace periods and options for deferment, forbearance and possible forgiveness or cancellation of your loan.

If you plan to return to MIT after a leave or withdrawal, you will have a registration hold if you don’t complete your exit loan interview before leaving or withdrawing.

Loan exit interview options

Federal Perkins, Direct Stafford and PLUS Loans

If you are graduating in June, September or February and you have a Federal Perkins Loan, a Federal Direct Stafford Loan or a Federal Direct Graduate PLUS Loan, SFS will notify you that you can complete your loan exit counseling online at

If you leave MIT at any time other than the regular graduation dates, you are responsible for completing the loan exit interview for your Perkins, Direct Stafford, or Direct Graduate PLUS online.

MIT Technology Loans

If you have an MIT Technology Loan, contact your MIT Loan Counselor for an appointment.

What happens at the loan exit interview?

At your loan exit interview, you will…

  • Review what you learned back in entrance loan counseling, such as the consequences of default and the importance of the repayment obligation and the use of the master promissory note.
  • Review any repayment options such as standard, graduated, extended, income-driven, and consolidation.
  • Review deferment, forbearance and discharge rules and procedures.
  • Learn about federal loan information available on the NSLDS website.
  • Learn about the Federal Student Assistance (FSA) Ombudsman’s Office.
  • Review your rights and responsibilities as a borrower.
  • Provide updated contact information, such as expected permanent address, address of next of kin, and name and address of employer if known.
  • Update any changes to personal information (name, driver’s license number, Social Security number, etc.) if necessary.
  • Receive contact information for your lender(s).