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Financial Aid Information for Undergraduate Degree Applicants

Your expected graduation term and financial aid

Your expected graduation term is recorded on your student record as the semester you plan to finish all of your undergraduate degree requirements. As a student who has received financial aid at the University of Minnesota Duluth, the accuracy of your expected graduation term is important because it prompts the following two actions related to your financial aid.

Financial aid for future terms is canceled

One month before the end of your expected graduation term, any financial aid awarded you for terms that begin after your expected graduation term will be canceled regardless of your future enrollment status. A notice will be sent to your University student e-mail account to inform you of the cancellation. If your graduation is delayed, be sure to promptly complete the Petition to Change Expected Graduation Term form to avoid having your financial aid awards canceled.

Loan exit counseling session is required

Before you graduate, you must participate in a loan exit counseling session and complete any required paperwork if you've borrowed from any of the following loan programs:

  • Federal Perkins Loan (formerly the National Direct Student Loan)
  • Ford Federal Direct Subsidized and/or Unsubsidized Loan
  • Student Educational Loan Fund (SELF)
  • University Trust Fund Loan

During the loan exit counseling session you will be advised of your borrower rights and responsibilities as well as those of the lender. There will be an opportunity to have your questions answered on loan repayment, deferment, and conditions that qualify for cancellation of your loans.

Attention Federal Perkins Loan and University Trust Fund Loan borrowers: You are required to complete paperwork for your loans before you graduate or a hold will be placed on your record. To schedule your exit interview, please email fincoll@d.umn.edu or call 218-726-8103.

Attention Ford Federal Direct Subsidized and/or Unsubsidized Loan borrowers: If you have borrowed a Ford Federal Direct Subsidized and/or Unsubsidized Loan (and none of the other loans listed above), you'll need to complete your loan exit counseling session online at the Department of Education website. You do not need to complete any paperwork or contact One Stop Student Services.

Attention SELF borrowers: If you you have borrowed a Minnesota Student Educational Loan Fund (SELF) administered by OSF and the Minnesota Office of Higher Education, you'll complete your SELF loan exit counseling online at http://www.ohe.state.mn.us/self/online_counseling/welcome.cfm. You do not need to complete any paperwork or contact One Stop Student Services to fulfill your SELF exit counseling requirement.