The federal government requires schools to provide an anticipated graduation date (AGD) for each student. Lenders depend on AGDs to determine the start of their collection process if they have not been notified of the students’ actual graduation or withdrawal from school. The AGD is also used to schedule the exit interview process for students. In addition, AGDs enable lenders to validate student deferments until the AGD (or until the student withdraws or graduates) and not just for the current term.