You are required to complete an exit interview during your final semester if you have borrowed Stafford loans. Instructions for completing the online exit interview will be sent in an e-mail from the Office of Student Services. Failure to complete the exit interview process will result in a hold on your transcript and diploma.
The purpose of the exit interview is to inform you of your rights and responsibilities based on the financial aid you accepted from Boston College. The information presented during the interview is a summary of the information contained on the promissory note(s) you signed. We suggest that you review your promissory note(s) carefully in order to become familiar with interest rates and repayment terms.
If you have been enrolled at Boston College prior to 2006, your loan portfolio could have several different interest rates. A "typical" scenario for a graduating senior would look like this:
- 2004-2005
- $2,625 principal balance
- Variable interest rate of 6.62% while enrolled and during grace period
- Variable interest rate of 7.22% during repayment
- Interest rates valid through 06/30/2008
- 2005-2006
- $3,500 principal balance
- Variable interest rate of 6.62% while enrolled and during grace period
- Variable interest rate of 7.22% during repayment
- Interest rates valid through 06/30/2008
- 2006-2007
- $5,500 principal balance
- Fixed interest rate of 6.8%
- 2007-2008
- $5,500 principal balance
- Fixed interest rate of 6.8%