Federal Student Loan Consulting

Student Loans 101 /
Leaving School


A portion of your loans may be able to be returned depending on the amount of time you spent at the school. Review your school's refund policy to determine if any of the funds will be returned.

If you can't find a job, you are still responsible for paying back your loans. Fortunately, there are several different repayment options available, such as income-driven repayment plans.

When you leave school, you don't have to start paying back your loans right away. 

You get a six-month grace period that begins the day after you graduate, leave school, or drop below half-time status.

Educate yourself on some important points to ensure you start out on the right path once you enter the repayment period. If you withdraw from school, you still have to pay back your loans.


If you borrowed money from the federal government to pay for your education, your school will require you to complete exit counseling. Exit counseling occurs when you graduate, withdraw, or drop below half-time status. 

Take time before exit counseling to review your repayment plan options. This learning opportunity provides information about your rights and responsibilities as a borrower. 

The options are flexible, and there's sure to be one that will work for you. Picking the right repayment plan can make all the difference in your ability to pay your student loans.