Chestnut Hill College is committed to providing students and their families with the best information and processing alternatives available regarding student borrowing. In support of this and in an effort to rule out any perceived or actual conflict of interest between Chestnut Hill College officers, employees or agents and education loan lenders, Chestnut Hill College has adopted the following:
- Chestnut Hill College does not participate in any revenue-sharing arrangements with any lender.
- Chestnut Hill College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any gifts of greater than a nominal value from any lender, guarantor or servicer.
- Chestnut Hill College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept any fee, payment or other financial benefit (including a stock purchase option) from a lender or affiliate of a lender as compensation for any type of consulting arrangement or contract to provide services to a lender or on behalf of a lender relating to education loans.
- Chestnut Hill College does not permit any officer, employee or agent of the school who is employed in the financial aid office or is otherwise involved in the administration of education loans to accept anything of value from a lender, guarantor, or group of lenders and/or guarantors in exchange for service on an advisory board, commission or other group established by such a lender, guarantor group of lenders and/or guarantors.
- Chestnut Hill College does allow for the reasonable reimbursement of expenses associated with participation in such boards, commissions or groups by lenders, guarantors, or groups of lenders and/or guarantors.
- Chestnut Hill College does not assign a lender to any first-time borrower through financial aid packaging or any other means.
- Chestnut Hill College recognizes that a borrower has the right to choose any lender from which to borrow to finance his/her education. Chestnut Hill College will not refuse to certify or otherwise deny or delay certification of a loan based on the borrower’s selection of a lender and/or guarantor.
- Chestnut Hill College will not request or accept any offer of funds to be used for private education loans to students from any lender in exchange for providing the lender with a specified number or volume of Title IV loans, or a preferred lender arrangement for Title IV loans.
- Chestnut Hill College will not request or accept any assistance with call center or financial aid office staffing.
Exit Counseling
If you are a student who has borrowed federal or direct loan funding during your educational career, federal regulations require that you complete Exit Counseling upon completion of a program of study (graduation) or if you have ceased enrollment at the College (transfer out of the college or withdrawal from the College).
This requirement can be satisfied by visiting StudentLoans.gov and by clicking the “Exit Counseling” link. You will need your social security number, date of birth and FSA ID number to log in.
The Exit Counseling session consists of the following sections:
- Getting Started – Types of Federal Student Loans, Loan Terminology
- Repaying Your Loan – Loan Summary Information (NSLDS), Interest Rates & Payment of Interest, Entering Repayment, Repayment Incentives, Repayment Plans, Making Payments
- Having Trouble Making Payments – Deferments, Forbearances, Delinquency and Default, Loan Consolidation
- Loan Discharge and Loan Forgiveness
- Resources – Financial Literacy, Additional Information, Borrower’s Rights and Responsibilities
At the end of the Exit Counseling session, you will be asked for information that will be included in your loan record. This includes names, addresses and phone numbers for your next of kin, two references who live in the United States, your future employer (if known), and your driver’s license number, if you have one. Having this information with you when you start will help your exit counseling session go more quickly and smoothly.
If you are planning to continue your education within 6 months of completing your program of study or of dropping below part-time status, your Federal Loans will be deferred if you are enrolled at least half-time.
If you have any questions or concerns, or if you would like to schedule an appointment to discuss your Loan Exit Counseling in person, please contact Student Financial Services.