Sat Mar 28 00:00:00 EDT 2009
New TEACH Grant Exit Counseling Session Is Now In Effect!
As a Financial Aid Administrator, we know that an important part of your role is counseling students on their rights and responsibilities in managing their grants and loans both during and after they leave school. Students who receive grants through the U.S. Department of Education’s (the Department’s) Teacher Education Assistance for College and Higher Education Grant (TEACH Grant) Program are required to receive TEACH Grant Exit Counseling before they leave the school where they received their TEACH Grant(s). Your school can choose to have TEACH Grant recipients take the online session(s) on the Direct Loan Servicing Web site or you may choose to administer exit counseling in person.
During TEACH Grant Exit Counseling, recipients will be reminded of the terms and conditions of the service obligation they must meet after they leave school. It will also explain the repayment requirements that apply if a recipient does not complete their TEACH Grant service obligation and the TEACH Grant is converted to a Direct Unsubsidized Loan.
New reporting options are now available on the School Web site that will allow school users to access TEACH Grant Exit Counseling Reports. These new reporting options are:
• TEACH Grant Exit Counseling by Date
• TEACH Grant Exit Counseling by SSN
If a TEACH Grant recipient completes the TEACH Grant Exit Counseling session, the session completion will be reflected on the above-named counseling reports. Schools may subscribe on the School Web site to receive the TEACH Grant Exit Counseling reports through the SAIG network.
If you have any questions about the TEACH Grant Exit Counseling session, please contact the Direct Loan Servicing Center’s School Services Division at 1-888-877-7658.