WHAT IS AN EXIT INTERVIEW?
The rules governing your loan(s) are established by Federal Regulations, state laws, and/or donors’ wishes. These rules require the borrower be provided an exit interview anytime a borrower graduates, transfers from or leaves the campus (even for one semester) which granted the loan or drops below the required number of credits.
Interest rates, repayment periods and other conditions of your loan vary depending upon the loan program and the source of the loan fund. Exit documents are designed to help you understand your rights and obligations as a student loan borrower. However, the promissory note is the legal document governing your loan.
EXIT INTERVIEW PROCESS
When a loan account is about to enter its initial grace period or repayment status, an electronic exit interview is generated for the borrower to complete. The exit interview provides the borrower with a repayment schedule for the loan(s) handled by our office, and an explanation of the rights and responsibilities as a loan borrower. Please note, signing the repayment schedule does not bind you to the payments as listed, this only verifies you were given a copy. Your repayment dates will be updated if you are granted a deferment or cancellation.
WHERE TO COMPLETE AN EXIT INTERVIEW
Borrowers required to complete an exit interview will receive a letter containing instructions on how to complete their Exit Interview from UW-Madison Bursar’s Student Loan Office.
From the Home (Your School Accounts) screen:
- Select “Student Loans & Receivables” located under the school name
- Select the “Documents” tab
- Select “Review and Sign” under the Exit Interview section
Please note a LEX-Exit Interview Hold will be placed on your student account if the Exit Interview is not completed by the date specified in the letter. The exit hold will be removed from your account within 48 hours of completing the exit interview. If you need the hold removed sooner, please contact the Bursar’s Student Loan Office via firstname.lastname@example.org or (608) 262-1791.
Phone: (608) 262-1791
Fax: (608) 265-3201