What Is Student Loan Entrance Counseling
Each school or college may have different requirements for their students regarding student loan entrance counseling at their college or university. Students who are first-time borrowers at some colleges and universities, under the Federal Perkins or the Federal Stafford Loan Programs, are required by federal regulations to complete student loan entrance counseling before receiving federal loan funds. Typically, students must complete a separate student loan entrance counseling session for each loan. Generally students have the option to complete the student loan entrance counseling in one of two ways:
1. Complete an online student loan entrance counseling session.
2. Complete an individual student loan entrance counseling session that you may schedule by contacting your schools financial aid office.
Student loan entrance counseling can be a very useful tool for students, and the session can offer helpful information, as well as give the student a chance to gain knowledge and information about the student loan process. The best thing for students who have received information regarding their attendance at a student loan entrance counseling session to do is to contact their schools financial aid office, for their specific requirements on student loan entrance counseling. Even if the student’s college or university does not require the student to complete a student loan entrance counseling session, students still may find it in their best interest to attend.
What Is Student Loan Exit Counseling
Student loan Exit Counseling is something that every student who is about to enter the repayment period for their student loans should take advantage of. In student loan exit counseling the student will receive helpful information about student loan repayment, and their student loan provider will notify them of the date that their student loan repayment begins. Much of what is covered in a student loan exit counseling session can seem like common sense, but in actuality there is valuable information to be shared regarding the borrowers student loans, the opportunity for the student to have any student loan repayment questions answered, and student loan exit counseling helps to reiterate the importance of paying the full student loan monthly payment and paying it on time.
A student loan exit counseling session is a valuable tool for all students preparing to graduate, who have taken out student loans to help pay for college. Student loan exit counseling sessions are free, and can really help prepare the student for the transition into student loan repayment. If your student loan provider has not offered to set up a student loan exit counseling session with you, simply contact them to make an appointment.