The purpose of an exit interview is to inform you of your rights and responsibilities based on the loans you accepted from Cornell University. You must complete an exit interview when you graduate or take a leave/withdrawal from the University.
All loans require that you sign a promissory note. This note is signed by the borrower when taking out a loan. By signing the promissory note, the borrower promises to repay the loan. The promissory note also includes important language about your rights and responsibilities as a borrower.
Federal and Cornell University loans require a Master Promissory Note (MPN). You sign the MPN once, the first time you borrow. This will allow you to borrow more from the same loan source while you are in school, without having to sign a promissory note each year.
In addition to federal and university loans, other education loan options may also be available.
Loans are a resource that can help fund your education. Typically, you do not have to begin repaying loans until after you have left school. Below is a list of the various loan options available, as well as details and requirements for each.
There are many options for helping fund your education. Cornell is committed to reducing the debt burden of its students, so we encourage you to research all your options. We also encourage responsible use of loans to fund educational expenses.
Scholarship funding, tuition benefits, and other resources intended to cover your annual estimated cost of attendance from organizations other than Cornell are commonly referred to as "outside scholarships." Outside scholarships are awarded separately from federal, state, and Cornell financial aid often based on specific criteria determined independently by the outside organization.
All outside scholarships, tuition benefits, and other resources must be reported to the Office of Financial Aid and Student Employment.
Federal Grants
Federal Student Aid (an office of the U.S. Department of Education) offers a variety of federal grants to students attending four-year colleges or universities, community colleges, and career schools who complete a FAFSA form annually. Federal grants, unlike loans, generally do not have to be repaid.
Cornell grants and endowed scholarships are the cornerstone of Cornell’s undergraduate aid program and longstanding commitment to access and affordability. Cornell grants and endowed scholarships are need-based “gift aid” that do not need to be repaid. Eligibility is based on information you provide on your CSS Profile application(s) as a first-year student, and information you provide on your FAFSA form as a continuing student.
There are a number of grants and scholarships available to Cornell undergraduate students. Keep in mind that:
CU Emergency Fund
An Emergency Fund, administered through the Office of Financial Aid and Student Employment (FASE), has been established to assist currently enrolled students with urgent, unanticipated expenses. The fund is designed to assist with recent or upcoming emergency expenses that are above and beyond the standard Cost of Attendance (COA).