Generally, the repayment period for federal student loans is ten (10) years. Extended and/or income-contingent repayment plans are available to qualified borrowers. You must begin repaying your loan once you graduate, withdraw from school (formally or informally), or drop below half-time status (6 credits).

You can find important information about repayment rights and responsibilities, grace periods, managing your debt, and tracking your loans at studentloans.gov.

In addition to the federal studentloans.gov website, there are many on-line resources for financial and budget management including:
http://www.accessgroup.org/Student-Loans/learn-about-loans/index.htm
http://mappingyourfuture.org/money/studentdebt.htm
http://www.finaid.org/calculators/

Entrance and Exit Counseling

Iona College students who borrow under the federal loan programs are required to receive Entrance Counseling prior to loans being disbursed to student accounts and Exit Counseling when they graduate, withdraw from school, or drop below half-time status (6 credits).

Entrance Counseling for Direct Loans is conducted online at studentloans.gov

Entrance Counseling for Perkins Loans is conducted online at Mapping Your Future at www.mappingyourfuture.org

Exit Counseling for both Direct Loans and Perkins Loans is conducted online at Mapping Your Future at www.mappingyourfuture.org

The College receives an electronic notification when a student has completed the online counseling.

Deferment and Enrollment Verification

Iona College has authorized the National Student Clearinghouse to provide degree and enrollment verifications for Employer or Background Screening Firm.

National Student Clearinghouse may be contacted through the following sites:

www.degreeverify.com

www.studentclearinghouse.org

Enrollment verification is necessary for deferral of loan repayment during students’ ongoing course of study. Student Financial Services provides official evidence of enrollment at Iona College for health insurance agencies, housing authorities, banks, etc.

If you are a Student, Verification of Enrollment can be completed online via PeopleSoft. Simply log in to PeopleSoft and go to:

Self Service > Academic Records > Request Enrollment Verification You may then print your Enrollment Verification.

If specific forms need to be completed, please send them or bring them to the following address:
Iona College
Office of Student Financial Services
715 North Avenue
New Rochelle, New York 10801-1890
Fax: (914) 633-2486

If you are not currently registered, contact Student Financial Services at 914-633-2497.

The National Student Clearinghouse provides enrollment certification to employers, lenders, guarantors, and/or loan servicers as requested by the student. Throughout the semesters a student is in attendance, any changes in enrollment status are updated automatically.

Please consult with your lender, guarantee agency, or servicer to determine whether they require a Loan Deferment Request Form to be filed every semester or if a single request form is sufficient for the duration of your in-school enrollment.

If you are seeking to defer loan repayment for reasons other than ongoing in-school enrollment (due to economic hardship, for example), you must contact the lender or loan servicer for information about available options.