If you are a first-time student loan borrower, you are required to complete entrance counseling.
Your school will conduct entrance counseling either:
In-person (individually or as a group) or
Be sure to check with your school’s financial aid office to determine the specific entrance counseling process you need to complete.
During entrance counseling, you will learn the following:
- The importance of your loan repayment options.
- That loan repayment is required, regardless of educational outcome or subsequent employability.
- The use of the Master Promissory Note.
How interest and capitalization affect your loan.
- Your estimated monthly loan repayment amount.
- How to retrieve your loan information through NSLDS.
- The importance of notifying the school and loan servicer of withdrawal or other changes in your school status.
Because you have decided to borrow a federal student loan to help pay for your educational expenses, it is important that you are aware of your Rights and Responsibilities as a borrower.