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Northwestern University

Borrower Obligations and Exit Interviews

Your obligations as a student loan borrower may begin while you are in school.

Make optional in-school payments

With the exception of NU Loans issued to undergraduate parents, which require repayment upon disbursement, repayment of the loan principal begins at graduation or separation from Northwestern.

However, some loans accrue interest immediately upon disbursement. If you make student loan interest payments, you may be eligible to deduct all or a portion of the amount paid on your federal income tax return.

For NU Loans, interest left unpaid will be capitalized following the loan's grace period. That means that the accrued interest is added to the outstanding principal balance of the loan. From that point forward, interest is assessed on the new, higher principal balance.

Loan Type Interest accrual begins Principal repayment begins
Student NU Loans Upon disbursement, but interest payments are optional until graduation. After six-month grace period following graduation or separation.
Parent NU Loans Upon disbursement; payments are required at this point. Upon disbursement. If payments do not remain current, you may not be approved for the loan in subsequent academic years.
Perkins Loan After 9-month grace period following graduation or separation. After 9-month grace period following graduation or separation.
Endowed Loans Upon disbursement, but interest payments are optional until graduation. After grace period (repayment starts at six months with a minimum payment of $100.00) following graduation or separation.


Federal regulations require all borrowers of federal student loans to attend an exit interview before graduation, but Northwestern encourages all student loan borrowers (even those with non-federal loans) to attend an exit interview. See the Exit Counseling page for more information on end-of-year sessions.

Attend an exit interview before graduation

Federal regulations require all borrowers of federal student loans to attend an exit interview before graduation. Northwestern encourages all student loan borrowers to attend an exit interview.

You will receive an invitation to attend a group exit interview which will occur in May. If you are unable to attend one of the group interviews, contact your loan services representative to schedule an individual interview.

At this session:

Please bring the following items to the exit interview: (1) a driver's license, (2) the addresses and phone numbers of two family members or friends who you have known for at least five years who do not live with you.

Undergraduate schedule - Evanston campus

Date Room Time Building
To Be Determined      

Graduate schedule - Evanston campus

Date Room Time Building
To Be Determined      
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