About Exit Counseling

NOTICE: The Income-Driven Repayment plan (IDR) and calculator is a new way to make your federal student loan payments more manageable. More information is available at the Federal Student Aid website.

If you are a Direct Loan or Perkins Loan borrower and drop below 6.0 credits per semester OR leave UMFK, you are required to complete the appropriate Exit Counseling session(s). If you have borrowed from both loan programs, two separate Exit sessions will be required, i.e., for Direct loans and Perkins loans.

A Hold will be placed on your UMFK student account until the required Exit session(s) is/are completed successfully. A Hold on a student’s account will prevent them from acquiring an official academic transcript and receiving their diploma.

Once you’ve completed the required Exit session(s), appropriate parties will be notified electronically.

Important: Do you want to know where or how much you borrowed? Retrieve your loan information from the Federal Student Aid website (Note: student’s social security number and FSA ID are required).

Important Note to Students Transferring to Another School:

By completing the Exit Counseling session, you are NOT necessarily putting your loans into repayment. If you inform your servicer that you are back in school (for 6.0 credits or more) and your servicer determines that you are eligible for an in-school-deferment, your loan payments will be deferred.

Direct Loan Exit Counseling

  • Your FSA ID is required to log in.
  • If you don’t have one, you can create an FSA-ID on the Federal Student Aid website.
  • If you have questions about Direct Loan Exit Counseling, contact the UMFK Financial Aid Office at (207) 834-7605 or email umfkaid@maine.edu

Perkins Loan Exit Counseling

  • If you can’t log into your account, click on “Need help logging in?” (Note: use UMFK’s school code: 002041)
  • If you have questions about Perkins Loan Exit Counseling, contact UMS Loan Processing Center at (207) 581-5474 or 1-800-308-6148, or fax (207) 581-5458.