Graduating University seniors with Federal Stafford Loans and Federal Perkins/Nursing Student Loans will soon be notified via e-mail and postal mail of the mandatory exit interview processes they must complete before graduation.

While this procedure has always been a required function to receive a diploma, this year the interviews will be available online with a new, web-based system that allows students more convenient access.

An exit interview is a mandatory process that takes a maximum of 30 minutes to complete for every federal loan a student has accepted. It allows the borrower to fully comprehend what he or she owes after graduation through various questions concerning the loan received. It also provides students with information such as deferment plans, refinancing and credit and consolidation tips.

The Office of Financial Assistance suggests that all students check Novasis to confirm what loans they have accepted. For every federal loan a student assumes, a separate exit interview is required for graduation.

“The funding from these programs made it possible to finance your Villanova education,” said Bonnie Behm, director of financial assistance.

Both Behm and Clare Tatlow, assistant director of financial assistance, emphasize that the exit interviews are useful not only to resolve what students owe, but also to review their rights and responsibilities as borrowers.

Online access to the mandatory exit interviews is intended to make the process easier and more convenient for the student borrowers. If students have questions regarding the process, they are encouraged to contact the Office of Financial Assistance.

“Go online to Novasis and check your Financial Aid Loan History before beginning the online exit interviews,” Tatlow said.

This will enable the student to check and confirm the loan amounts owed. Other important preparations for completing the exit interviews include collecting general pieces of personal information, such as the student’s driver license number and employer name.

The Federal Stafford Loan exit interview can be accessed at www.pheaa.org or through www.finaid.villanova.edu. A new link is being created on the Villanova Financial Aid website for the Federal Perkins/Nursing Loan exit interview and will be obtainable under the Perkins/Nursing Exit link.

An optional component of the Federal Perkins/Nursing Loan is a specific, personalized service that walks students through a budget. While the program accounts for income and expenses, it provides a personalized estimated loan payment plan for the student.

Some students have described the new website as a reality check.

“It’s important for students not to default on payments, as it can affect their credit,” Tatlow said.

A group information session on Debt Management, sponsored by PNC Bank, will be held at the University on April 23.