Entrance Counseling for Federal Loans
Students borrowing Federal Direct Subsidized and Unsubsidized Loans must complete their Loan Entrance Counseling before the Department of Education will release your first loan disbursement. https://studentaid.gov/entrance-counseling/
Loan Entrance Counseling will explain the use of the Master Promissory Note (MPN), explain managing education expenses, inform first-time borrowers on the terms and conditions of the loan and responsibilities in borrowing, and instill the importance of the students’ repayment obligation.
Master Promissory Note
Students borrowing Federal Direct Subsidized and Unsubsidized Loans must also complete their Master Promissory Note. This is required before loans can be disbursed.
Loan Summary Information
The National Student Loan Dada System (NSLDS) is the U.S. Department’s central database that stores information on all loans and grants made through the federal student aid programs. Login (https://studentaid.gov/) using your FSA ID and password and “view my account” to access your federal loan awards. You will contact your loan servicer for repayment information. Both loan and enrollment information is accessible by lenders, agencies, and institutions determined to be authorized users of the data system.
Exit Loan Counseling for Federal Loans
Federal regulation requires all student loan borrowers to participate in Stafford Exit Loan Counseling whenever you drop below half-time enrollment status, withdraw, or graduate. To complete the online student loan exit counseling, please use this link https://studentaid.gov/exit-counseling/.
During exit counseling, borrowers are informed of debt-management strategies, repayment options, conditions needed for a deferment or forbearance, consolidation, and consequences of defaulting. Borrowers should allow 30 minutes to complete the online counseling session and it must be completed in a single session. Contact your servicer if you have issues in repaying loans or have a change in your name, address, or phone number.
If you have any issues with the student aid website, contact the Federal Student Aid Information Center at 1-800-433-3243.