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National Student Loan Data System Loan Exit Counseling Extract Record Layouts for Lenders and Lender Services Completion Extract ? Ad-Hoc (EXTC02) Summary by Date Extract ? Ad-Hoc (EXTCD2) Summary
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How to fill out loan exit counseling extract

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How to fill out loan exit counseling extract:

01
Obtain the necessary forms from your loan provider or educational institution.
02
Review the instructions provided with the forms to understand the required information and documentation.
03
Provide your personal details, including your name, contact information, and student identification number.
04
Fill in the loan details, including the type of loan, loan amount, and repayment terms.
05
Indicate the reason for filling out the loan exit counseling extract, such as graduation, leaving school, or dropping below half-time enrollment.
06
Provide information about your future plans, such as whether you intend to continue education, seek employment, or enter a deferment or forbearance period.
07
Review the loan repayment options available to you and select the one that best suits your financial situation.
08
Provide any additional information or documentation requested by the form or your loan provider.
09
Read and sign the form, acknowledging that you have received the necessary information and understand your rights and responsibilities as a borrower.

Who needs loan exit counseling extract:

01
Students who have taken out federal or private student loans.
02
Students who are graduating, leaving school, or dropping below half-time enrollment.
03
Students who want to understand their loan repayment options and responsibilities.
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Loan exit counseling extract is a detailed report that provides information about the counseling session that borrowers must complete before they leave school or drop below half-time enrollment.
Institutions that participate in federal student aid programs are required to file loan exit counseling extract for their borrowers.
The loan exit counseling extract can be filled out electronically using the designated reporting system provided by the Department of Education.
The purpose of the loan exit counseling extract is to ensure that borrowers understand their rights and responsibilities regarding their student loans and to provide them with important information about repayment options.
The loan exit counseling extract must include information such as the borrower's contact details, loan details, repayment options, and any additional information required by the Department of Education.
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