USA Funds Introduces Online Exit Counseling for Graduate Students

INDIANAPOLIS, Oct. 21 /PRNewswire/ -- USA Funds(R), the nation's leading education loan guarantor, announces the introduction of USA Funds Grad Guide(SM) exit counseling, an online program designed to address the unique financial issues graduate and professional students face as they complete their degree programs. The program helps colleges and universities meet federal requirements for counseling their students about the terms of Federal Stafford and Grad PLUS loans and prepares graduate students to successfully repay their student loans.

"We developed this counseling program based on the insight of graduate students and financial aid administrators," said Denise B. Feser, USA Funds senior vice president, customer relations. "USA Funds Grad Guide delivers information relevant to these students who typically incur larger student loan debts to complete their postgraduate studies."

USA Funds Grad Guide exit counseling displays a student's current Federal Stafford, PLUS and Consolidation loan information, drawn from the Meteor network, and allows the student to include information about additional loans, to ensure a complete summary of total indebtedness.

USA Funds Grad Guide exit counseling is the newest component of USA Funds Loan Counselor(R), a suite of counseling services to help student loan borrowers understand their rights and responsibilities and take control of their education debt. USA Funds introduced the entrance counseling component of USA Funds Grad Guide in June. USA Funds Grad Guide simplifies the delivery of exit counseling to graduate students by allowing schools to customize counseling and by supporting the required reporting of exit counseling results.

With the help of a video adviser who explains "big idea" concepts for each topic, students are guided through information about the differences between Stafford, Grad PLUS and private loan types; repayment options; and borrower rights and responsibilities. USA Funds Grad Guide also offers advice on how to successfully manage debt, and includes repayment, loan consolidation and budgeting calculators. Information about the calculation and importance of credit scores, an overview of critical steps for repayment success, and a glossary of common education loan terms also are included.

Headquartered in Indianapolis, USA Funds is a nonprofit corporation that works to enhance postsecondary education preparedness, access and success by providing and supporting financial and other valued services. During the year ending Sept. 30, 2008, USA Funds guaranteed Federal Stafford and PLUS loans totaling $17.2 billion for students and parents throughout the nation. USA Funds serves as the designated guarantor of federal education loans in eight states: Arizona, Hawaii and the Pacific Islands, Indiana, Kansas, Maryland, Mississippi, Nevada and Wyoming. For more information about USA Funds, visit www.usafunds.org .