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When a student who has campus-based loans graduates or withdraws from
Emory, the student will be contacted for an exit interview by Student
Financial Services.
Emory must conduct an exit interview with each borrower. During the
interview, Emory restates for the borrower the terms and outstanding
balance of the loan held by the University, and the borrower's duty to
repay the loan in accordance with the repayment schedule. Emory
explains to the borrower the consequences of defaulting including, at
a minimum, possible referral to a collection firm, reporting to a
credit bureau, and litigation. Emory explains the borrower's rights
and responsibilities under the loan.
These are:
- The borrower's responsibility to inform the University immediately of
any change of name, address, telephone number, or Social Security
number.
- The borrower's right to deferment or cancellation and the procedures
for filing for those benefits.
- The borrower's responsibility to contact the University in timely
manner, before the due date of any payment he or she cannot make.
Students that have loan(s) with Emory and fail to complete their exit
interview will have a hold placed on all of the student's University
records. For convenience, beginning in 2003, these exit interviews can
be completed on-line. The student will be contacted by email at the
time of exit and be provided with an ID and password to the exit
interview site.
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