Students who borrow under the Federal Direct/Federal Family Education Loan Program are required to complete Exit Loan Counseling. If you are about to graduate, drop below six credit hours during a semester or otherwise leave school, click on the link below to fulfill this requirement.
The federal government requires that we inform you of the average indebtedness of MCC students who are loan borrowers. A total of 544 students borrowed $2,206,173 for the period of enrollment from July 1, 2017 through June 30, 2018. The average loan amount paid was $4,055 per student. This debt per student would result in a monthly payment of approximately $50.00.
If you have any questions as you complete the counseling requirements, you may contact the financial aid office at 231-777-0228. Also, the Direct Loan Exit Counseling Guide, published by the U.S. Department of Education, is an excellent publication to save for reference. Finally, the U.S. Department of Education has a Student Loan Ombudsman’s Office. This office was established to help resolve disputes between borrowers and their schools, lenders, guarantors, or loan servicers. The Ombudsman’s office can be contacted at 1-877-557-2575.