Effective Sept. 1, 2017, institutions that participate in a state financial aid program are required to provide students with an annual letter notifying them of their current federal loan debt and estimates of future payments. Rice University has partnered with Inceptia, a nonprofit financial aid management company, to fulfill this requirement. Communications from Inceptia should be considered safe and necessary to open.
The Office of Financial Aid requires that students complete exit counseling per Federal regulations. Once the student has completed all degree requirements, the next step is loan repayment.
IMPORTANT: An email notification regarding the exit counseling requirement will be sent to all students who graduate, withdraw or drop below half-time enrollment, even if enrollment will continue the following semester. If the exit counseling is not completed, there will be a HOLD placed on the student’s account. The hold will be removed once we have received the electronic confirmation.
Below are links that may be beneficial to Rice students:
Stafford and Graduate PLUS Loans: There is a six (6) month grace period for Stafford and Graduate PLUS Loans before repayment will begin. For more information, contact the lender. The Stafford/Graduate PLUS Exit Counseling requirement can be completed at Studentloans.gov.
Perkins Loans: Effective Sept. 30, 2017, the Perkins Loan program has ended. Students who received one or more Perkins disbursement can obtain information about their loan repayment from the Cashier’s office. For account information and Exit Counseling requirements, you may also contact ECSI at www.ecsi.net.
Parent PLUS offer different repayment options and grace periods, so please contact the lender that holds the loans to determine when the student must begin repayment.
Private loans offer different repayment options and grace periods, so please contact the lender that holds the loans to determine when the student must begin repayment.
National Student Loan Data System (NSLDS): This database will list all federal loans received by the student. The FSA ID and password used to complete your FAFSA is required to log in to the student’s records. For more information contact the Department of Education at nslds.ed.gov/nslds_SA/.
Loan Consolidation: Consolidating your federal loans may be a good option for students with multiple loan payments. For information and benefits regarding loan consolidation, visit the Federal Student Aid webpage at https://studentaid.ed.gov/sa/repay-loans/consolidation.