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Repay your loan: Loan exit counseling

Exit counseling will help you understand what you owe, your loan repayment rights and responsibilities, and your repayment options.

You are required to complete counseling if you have an MIT or federal student loan and you:

  • graduate,
  • fall below half-time enrollment status,
  • take a leave of absence, or
  • withdraw from the Institute.

This is required for Federal Direct, Direct PLUS, and Perkins loans, as well as MIT Technology loans.

Steps to complete the counseling requirement

  • First, you need to complete the Loan Information Sheet (LIS) and send it back to us.
  • Once you have submitted the LIS, you will need to complete additional documentation based upon what type of loans you have:
    • If you have a Direct Loan with a Direct PLUS Loan you will need to complete the following online counseling and download the Loan Exit Counseling Guide to help you with the online exit.
    • If you have a Direct Loan with a Perkins Loan you will need to complete the following online counseling, and sign and return the Perkins loan disclosure statement that we will send to you.
    • If you have an MIT Technology Loan you will need to sign and return the loan disclosure statement that we will send to you.

If you have questions about loan repayment or exit counseling, contact us at loan-services@mit.edu.