Loan Counseling

Entrance Counseling - Federal Direct STAFFORD Loan/Grad PLUs loan

Prior to borrowing a Federal Direct Loan, students are required to complete Entrance Counseling. The purpose is so that all students be provided with the same basic level of information concerning their student loans.

You can click on the link in the right panel and you will be taken to a separate website where this can be completed. You must log into the website, using your four digit Dept. of Education pin (the same used to complete the FAFSA form).  After you have logged in, select Loan Counseling, choosing Entrance Counseling.   Be careful to ensure you are logged in or it will not be recognized.  We are electronically notified within 24 hours of completion.

Exit Counseling - Federal Direct STAFFORD/Grad plus loans

It is also a federal requirement that all students who received a Federal Stafford/Direct/Grad PLUS Loan complete exit counseling.    This information will include the amount they owe, repayment plan alternatives, when their payments will begin, who they pay, information on how to proceed if they are experiencing problems, etc.

Again, this requirement may be completed for federal loans online.You must log into the website, using your four digit Dept. of Education pin (the same used to complete the FAFSA form).  After you have logged in, select Loan Counseling, choosing Exit Counseling.   Be careful to ensure you are logged in or it will not be recognized.  We are electronically notified within 24 hours of completion.

Exit Counseling - Federal Perkins Loans

Along with entrance counseling, it is a federal requirement that all students who received a Federal Perkins Loan be provided with exit counseling. The Perkins Exit site will use your respective Luther Perkins amounts.  Students will be contacted by University Accounting Service (our Perkins servicer) before Exit Counseling is due and provided with access information.

After all of the above online counseling sessions that pertain to you as an individual has been completed, students may request a one-on-one exit interview with the financial aid office to review and answer any questions you may have.  Please make an appointment with the financial aid office allowing a 10 to 14 day time frame.  Each appointment will take approximately 45 minutes to an hour.

FINANCIAL AWARENESS COUNSELING - ALL FEDERAL LOANS

 Luther Seminary recommends your review your outstanding loan balances annually and estimate your eventual loan payments.  This  exercise can be completed at the same site as the Entrance and Exit Counseling listed above.