What is an Entrance or Exit Counseling?
During entrance counseling the borrower is reminded of the seriousness of taking out a loan, the terms and conditions, the repayment obligations, and the consequences of defaulting on a loan. All borrowers of a Federal Stafford Loan must complete entrance counseling before you’re given your first disbursement of the loan. Entrance counseling can be completed online at: http://mapping-your-future.org/OSLCSchoolPages/?SchoolPageID=5379&SchoolID=3362. When a loan borrower graduates, withdraws, or drops below half-time status, he/she must complete Exit Counseling. During exit counseling the terms and conditions of the repayment of the loan are reviewed, along with debt management strategies. Exit counseling can also be completed online at: http://mapping-your-future.org/OSLCSchoolPages/?SchoolPageID=6806&SchoolID=3362.
During entrance counseling the borrower is reminded of the seriousness of taking out a loan, the terms and conditions, the repayment obligations, and the consequences of defaulting on a loan. All borrowers of a Federal Stafford Loan must complete entrance counseling before you’re given your first disbursement of the loan. Entrance counseling can be completed online at the Direct Loan website. When a loan borrower graduates, withdraws, or drops below half-time status, he/she must complete Exit Counseling. During exit counseling the terms and conditions of the repayment of the loan are reviewed, along with debt management strategies. Exit counseling can also be completed online at the Direct Loan website.
Related Questions
- Do the MDHE Entrance and Exit counseling booklets provide the borrower with an explanation of the information contained in the NSLDS and contact information for the NSLDS?
- I have completed my online Loan Entrance Counseling requirement. Why does it still show up on my To-Do List?
- What is an Entrance Loan Counseling Session?
