Notice: The Income Based Repayment plan (IBR) and calculator is a new way to make your federal student loan payments more manageable. More information is available at ibrinfo.org.
Student Direct Loan borrowers and/or Perkins Loan borrowers who drop below 6.0 credit hours (per semester) OR leave UMFK 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 loan.
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 a student from acquiring an official academic transcript, receiving their diploma, and for registering for classes at any University of Maine campus, etc.
Important Note to Students Transferring to Another School: By completing the Exit Counseling session you are NOT necessarily putting your loans in 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.
Once the required Exit session(s) are completed, appropriate parties will be notified electronically.
Important: Do you want to know where you borrowed or how much you borrowed? Retrieve your loan information here (Note: Student's social security number and FSA ID are required).
Click here to complete your Direct Loan Exit Counseling
Click here to complete your Perkins Loan Exit Counseling
